On the Web:
- Who’s a Better Fraud Investigator — You or Your Bank? - PaymentsView.com (Jay DeWitt) - "We often get interesting questions about payments, and the latest one stumped us: “How many credit and debit fraudulent uses are first detected by the bank? By the customer?"
- Kravis Bolsters KKR’s Biggest Deal With First Data Boost - Bloomberg - “We really believe in Frank and in the management team that he’s been able to put together,” Kravis said.
- Is HCE the Game Changer for NFC-based Mobile Payments - VeriFone Blog - "To some extent this technology’s failure to gain traction stems from the reluctance between the two participating groups: retailers and consumers."
- Dwolla's Ben Milne on What Its Really Like Working With Marc Andreessen - "Smart people point out flaws, and that is okay, you fix the flaws and you get better."
- AT&T to introduce its own NFC platform for merchant offers, access control and more - NFC World - "AT&T NFC Connect will act as a service provider TSM for secure, non-payment applications such as access control."
- Why traditional retailers should fear Amazon's Fire Phone - Vox - "You'll be able to walk into a store, find the item you want, scan its barcode, and then order the product from Amazon with one click."
- Supreme Court Rules Against Alice Corp. in Patent Case - "The Supreme Court unanimously ruled on Thursday that basic business methods may not be patented, even if computers are used to apply them."
On the Wires:
- First Data Announces $3.5 Billion Private Placement Led By KKR - "The private placement follows the first year of leadership under Chairman and CEO Frank Bisignano, during which the management team of First Data has implemented a comprehensive shift in the company’s vision for the future, corporate culture and client focus, transforming it from a payments processor to a collaborative solutions provider that partners with clients of all sizes."
- TransUnion Analysis Finds Reporting of Rental Payments Could Benefit Renters in Just One Month - "A new TransUnion analysis found that the reporting of rental payment information to the credit bureaus in a manner similar to other financial obligations could have a positive effect for the majority of subprime consumers' credit."
- VeriFone Welcomes Karen Austin to Board of Directors - "After joining PG&E as CIO in 2011, where she oversees and directs IT systems and cyber security initiatives that support all of PG&E’s customer touch points, Austin transformed the enterprise into a more nimble and innovative company that leveraged and digitized big data to enhance energy management for both the utility and its customers."
- FleetCor Awarded Private Label Commercial Card Program Contract with Kwik Trip - "Under the terms of this agreement, FleetCor will partner with Kwik Trip to launch and manage both a Kwik Trip Extended Network Fleet Card and a Kwik Trip Universal Fleet Card."
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.
- Money2020 has become the go-to event in payments. We'll be there in force... will you? This week is the last week to register and save 20%. Use promo code "GLENBR20"
- 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.
- Feedback: How are we doing for you? I'd love to hear from you - drop me a quick note: email@example.com or leave me a voicemail: +1.650.469.3421.
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