On the web:
- The High Cost, for the Poor, of Using a Bank - The New Yorker (Lisa Servon) - "The answer was surprising: it turns out banks are often costlier for the poor than check cashers and other alternative services."
- The mathematician's defense of Bitcoin: It's just another option - PBS Newshour - "And this is so incredible because for the first time in history, every transaction made with Bitcoin is known. The block chain is like a global ledger. If you buy something today with Bitcoin, for the rest of time, as long as the Bitcoin network is supported, that transaction is going to be known and archived."
- Consumers Rack up $1 Billion in Online Spend Per Day, on 188 Days in 2013 - Visa Viewpoints Blog - "eCommerce sales on the Visa network* have surpassed $1 billion a day for 188 days in the first nine months of the year, demonstrating that billion-dollar eCommerce days have become the norm rather than the exception."
- NFC On Hold or a Go?: Onsite at Money2020 - Credit Union Times - "When asked what the chances that NFC (Near Field Communication) will ultimately prevail as the standard for mobile payments, he scored it a 5, 5 standing for a dead-on certainty."
- Nordstrom Finds Cash Register Skimmers - Krebs on Security - "The fraud devices in this case resemble small keyloggers that are sold by dozens of stores for approximately $30 to $40 apiece."
- Pals in Palo Alto - Tomorrow's Transactions Blog - "I'd said at the beginning of the day that we run the Unconferences to get new ideas, and that the best way to get new ideas was to give your ideas away for free."
On the wires:
- Firstbank to Join the clearXchange Network - "FirstBank, the second-largest bank by deposits in Colorado, announced today that FirstBank will join the clearXchange network."
- RBI appoints Technical Committee on Mobile Banking - "The Reserve Bank of India has announced the constitution of a Technical Committee on Mobile Banking, to examine the options/alternatives including the feasibility of using encrypted SMS based funds transfer using an application that can run on any type of handset for expansion of mobile banking in the country."
- Cross-Border eCommerce Community Initiated - "Payvision, PAY.ON, ReD and World IT Lawyers announce the launch of the Cross-Border eCommerce Community (CBEC), a strategic initiative that aims to support Merchants, Payment Service Providers, ISOs and Acquiring Banks within the CNP Payment Industry..."
- Level, the Next-Generation Financial Services Company, Launches Mobile-First Money Meter - "Level Money, available today for the first time in the Apple App Store, provides a live snapshot of a user’s spendable income for that day, week, and month."
- Citi's WorldLink® Payment Services Expands its Cross-Currency Capabilities - "Citi has responded to these vital client needs by expanding WorldLink low value cross border offering (ACH) to include India, Mexico and Poland and making available 13 additional funds transfer currencies for same day and / or next day settlement."
Updates from Glenbrook:
- Looking for consulting help from Glenbrook? Let us know your needs here - and we'll get right back to you!
- Join us for our new series of Glenbrook Payments Boot Camps October 23rd/24th in New York City!
- Glenbrook's Allen Weinberg and Erin McCune will be at Money2020 in Las Vegas October 6-10 - please reach out to them directly to catch up in person or set up a briefing at the conference. Erin will be moderating an Invoicing, Billing & Collections panel with Bill.com CEO Rene Lacerte, Billtrust CEO Flint Lane and Billhighway Chairman Vince Thomas.
- Glenbrook's Elizabeth McQuerry will be speaking at this year's NACHA Global Payments Forum on October 17-18 in New York City. She'll be speaking on the topic "Mobile Payments, Interoperability & Faster Funds Transfer".
- Glenbrook's Carol Coye Benson will be speaking at this year's American Bankers Association Annual Convention on October 20-22 in New Orleans. She'll be participating in a panel discussion on The Future of the Payments Industry.
- Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews