On the web:
- Should Money Go Digital? - New Yorker - “Putting a credit card on a phone doesn’t really add value. This is bubble 2.0 territory here.”
- Pokkt, An Alternative Payments Platform For Mobile Users In India, Raises Seed Funding - TechCrunch - "Pokkt — pronounced “pocket” — has a model that is reminiscent of TrialPay or Tapjoy."
- Scan Gets $7M From Entree Via AngelList To Turn The Lowly QR Code Into A ‘Scan To Pay’ Gateway - TechCrunch - "Scan to Pay is deceptively simple: someone who wants to collect money — say, to sell merchandise or collect donations — signs up for Scan and generates a QR code."
- NFC is Dead – No it’s Not! (and more from the Money2020 event) - VeriFone Blog - "If there was one consistent message in the panel sessions that included vendors from social media, loyalty, banks and other payment markets, it’s that no one knows where we’ll be in five years."
- The Future of Mobile Payments Is So Yesterday - Bank Innovation - "The technology available to mobile payments providers keeps getting better, but until something exciting happens that pushes past customer apathy and merchant hostility, and offers benefits to both above and beyond plastic, widespread adoption will be slow."
- First Data Quietly Buys Payments Startup Clover; Launches Point Of Sale Platform For Merchants - TechCrunch - "If Clover and First Data can convert the merchants that are already using old school terminal, then this could be a potential competitor to the Squares and PayPal Here’s of the payments world."
- Lessons on living in a real-time payments world - Banking Technology - "That story begins a more than five years ago when the UK banks were told by regulators to shorten the three-day clearing cycle that was then in place. The result was the Faster Payments System..."
- Loop turns almost any point-of-sale system into a mobile payment machine - Engadget - "In essence, the Loop transmitter can manipulate the magnetic field enough to transmit the mag-stripe data from your cards, causing the POS to think it just registered a normal card swipe."
- MCX Coming At You: Onsite Coverage - Credit Union Times - "The merchant-focused MCX mobile payments solution is real and pilots will happen soon."
- PayPal, Aiming For Retail Ubiquity, Adds One More Way To Pay - ReadWrite - "Open the app, check in to a store that takes PayPal and then present a barcode to the merchant for scanning. The app then generates a one-time-use code that the customer enters into the same PIN pad used for debit-card transactions."
- How the decomposed bank will compete - Financial Services Club Blog - "That’s the real challenge here: how to be the bank fit for the 21st century by focusing upon what you’re really, really, really, really, really good at."
- How mobile changed bricks-and-mortar shopping – for better or worse - Mobile Commerce Daily - "If anything, mobile’s immersion in our everyday lives actually provides retailers a valuable opportunity to embrace mobile as an asset and use it to foster the biggest advantage a bricks-and-mortar store has to offer: personalized, superior-level customer service."
On the wires:
- Remitly Launches Updated Mobile Application - "With the latest Remitly app, both the sender and the receiver can communicate directly in real time before, during or after they transfer money."
- PayPal and the National Cyber Security Alliance Unveil Results of New Mobile Security Survey - "According to our survey, more than half of mobile consumers are comfortable using biometrics to authenticate themselves on mobile devices."
- INSIDE Secure Powers Innovative Mobile Wallet Solution from LoopPay - "Loop selected the INSIDE VaultSEcure secure element to enable payment card data storage for its LoopWallet™ solution."
- Eighty-three Percent of Financial Industry Professionals Predict Real-time Payments Will Be Universally Available Within Five Years - "Real-time payments are expected to be universally available across financial services institutions within five years, reveals a recent survey by ACI Worldwide."
- Mastercard and Eataly Announce a New Partnership to Promote Slow Food and Fast Payments - "The agreement puts the “slow food, fast payments” credo into practice, creating perfect synergy between the two companies’ cultures."
- Chase Paymentech’s New Safetech Page Encryption Solution Enhances Security, Reduces Risk and Cost for Online Merchants - “With Safetech Page Encryption, customers’ payment data is secure and merchants can continue to support consumer engagement during the checkout process.”
- Social Commerce Network Solavei Celebrates 1-Year Anniversary with Launch of Solavei Marketplace Shopping Offering - "Working with First Data, a global leader in electronic commerce and payment processing, Solavei Marketplace now adds more value to Solavei’s social membership with card-linked cash back and discount offers from thousands of top national and local merchants."
- FIS Launches Digital Magazine to Keep Clients Close to Financial Industry Issues and Trends - "FIS InMotion™, FIS’ new digital magazine, which launches today, reflects an industry in continuous motion and offers readers an insightful and relevant look at current issues and new trends impacting the industry through case stories, research and luminary insights..."
- Virtual Piggy Joins Demandware LINK to Accelerate Commerce Innovation - "Through the LINK Technology Partner Program, Virtual Piggy has developed a pre-built integration between Virtual Piggy and Demandware Commerce, making it possible for Demandware clients to implement its safe youth commerce solution in a fraction of the time normally required."
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