On the Web:
- Announcing Merchant Discounts: Pass Cost Savings on to Your Customers - Coinbase Blog - "We’re excited to announce a new feature that makes it simple for merchants to pass on some of the cost savings associated with accepting bitcoin payments to consumers."
- How Bitcoin Empowers Global Peer-to-Peer Lender BTCJam - CoinDesk - "Bypassing the restrictions of fiat currencies, the company says, allows any individual in the world to receive a loan via its platform."
- Introducing PassPort: A World of Global Sales Opportunity Awaits - PayPal Forward Blog - "PassPort provides country-specific guidance on seasonal sales peaks, including holidays and events; cultural customs, taboos and trends; shipping and distribution logistics; currency exchange and fees, and customs procedures and taxes."
- PayPal Launches PassPort To Lure More International Sales From Merchants - TechCrunch - "At a time when eBay and PayPal marketplace competitors like Alibaba are ramping up their international and American profiles, the idea of PassPort is to generate more international sales."
- It’s an EU Mystery: Where’s the Interchange Fee Data - MasterCard Cashless Pioneers Blog - "Despite the political attractiveness of capping fees, there is no evidence to suggest that a one-size-fits-all approach is the right way to promote electronic payments in Europe. We shouldn’t try to make bricks without clay."
- Retailers' Mobile Wallet Seen Delayed; Apple Boost? - Investors.com - "Our checks at the conference indicated that MCX has begun small-scale pilots of its mobile wallet/payments platform at select Wal-Mart locations," wrote Jefferies analyst Jason Kupferberg in a research note.
On the Wires:
- Visa Unveils Innovative Tournament Activation Program with Interactive Fan Engagements and Seamless In-Stadium Technology to Connect Everyone to the 2014 FIFA World Cup - “Our goal is to make it easy, engaging and relevant for everyone, everywhere, to connect to the FIFA World Cup and be part of the collective experience,” said Charlie Scharf, chief executive officer, Visa Inc. “From immersive fan engagement programs to innovative partnerships that help advance the next generation of payment technologies in Brazil, Visa is connecting more people than ever before with this momentous global event.”
- MasterCard: Assessment Of The European Commission’s Preliminary Findings On Merchants’ Costs Of Cash And Cards - "This study by the Brattle group reviews the preliminary findings of the EC and its methodology. It concludes that, applying the MIT, interchange fee values should be well above the thresholds proposed by the European Commission."
- CFPB Launches Inquiry Into Mobile Financial Services - “In a world where people can manage their money on the go, there is great potential to serve more consumers and allow them to take greater control of their finances,” said CFPB Director Richard Cordray. “But we need to make sure all consumers are protected whether they are opening their wallets or scanning the screen on their smartphones.”
- PCI Security Standards Council Calls for Password Security Awareness Ambassadors - “Hacking easily guessed or weak passwords on payment systems is one of the leading methods criminals use to steal valuable credit and debit card information from small businesses today,” said Bob Russo, general manager, PCI Security Standards Council. “Yet, the majority of these companies don’t even know there’s a password on these systems, let alone where to find it or how to change it.”
- Retailers to Find Big Growth Online with Extension of Bigcommerce, Heartland Payment Systems Partnership - “Our platform’s high usability, built-in marketing tools and abandoned cart saver, combined with Heartland’s robust and secure payment processing solutions is a perfect match for those looking to differentiate themselves in the e-commerce space and attract and retain new customers.”
Updates from Glenbrook:
- Glenbrook Payments Boot Camps: Aug 5-6 in San Jose, CA.; Oct 7-8 in Palo Alto, CA.; Oct 21-22 in New York City; Dec 9-10 in Palo Alto, CA.
- Glenbrook Payments Insights Workshops: Bitcoin: Basics and Beyond, June 25 in New York City.
- The Kindle edition of our book "Payments Systems in the U.S. - Second Edition" - is now available in the Kindle Store as well as in an iBooks version for your iPad or Mac in the iBooks Store.
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