On the Web:
- Accidental disruption: Max Levchin discusses how close PayPal was to never existing at all! - PandoDaily - "It’s often said that it’s better to be lucky than good. Fortunately for PayPal, Levchin, Thiel, and the company’s other early execs were both lucky and good."
- Consumers Not Powerless in the Face of Card Fraud - New York Times - "The United States is such a fraud-friendly country in part because we still use old-fashioned magnetic stripes on the back of our cards. This makes it relatively easy for thieves to make counterfeit ones."
- Xapo Raises $20 Million To Bury Your Bitcoin Underground - TechCrunch - "The wallet, said Wences, works like a checking account while the vault works like a savings account. They have no intention of ever becoming an exchange."
- Wearing Apple - furbo.org (Craig Hockenberry) - "But the biggest feature of all would be that this wearable device could support iBeacon."
- China Suspends Two Forms of Smartphone Payments - Wall St. Journal - "A People's Bank of China official who declined to be named said the bank issued a directive Thursday ordering the suspension of online payments using QR codes and virtual credit cards in smartphone payment systems."
- Introducing Myself - Bitcoin Foundation (Jim Harper, Global Policy Counsel) - "To that end—prioritizing—I have already begun a study of the risks that Bitcoin faces and their severity, how to address them and, when possible, how to measure success or failure."
- Buffett: ‘Stay Away’ From Bitcoin - Wall St. Journal MoneyBeat - He called it “a very effective way” of transmitting money, but said that “a check is a way of transmitting money, too.”
On the Wires:
- Financial Fraud Action UK: Scams and Computer Attacks Contribute to Increase in Fraud, As Total Card Spending Rises - "Overall, card fraud losses as a proportion of the value of purchases on our cards has increased only slightly – from 7.1p for every £100 spent in 2012 to 7.4p in 2013 (in 2008 it was 12.4p for every £100)."
- Digicash Launches Beacon Mobile Payments Using SEPA Credit Transfers - "Just a year after the launch of its mobile payment solution based on QR Codes, Digicash is innovating again by testing its new Digicash Beacon solution under field conditions together with three retail banks: BCEE, POST and BIL."
- NEACH and EastPay Launch Co-Owned Payments Space Advisors - "Services offered by the new joint venture include ACH Compliance Audits; Third-Party Sender Audits; ACH Risk Assessments; Remote Deposit Capture Risk Reviews; and customized payments consulting and education tailored to clients’ needs."
Updates from Glenbrook:
- Glenbrook Payments Boot Camps: March 18-19 in New York; May 6-7 in Palo Alto, CA.
- 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 protected] or leave me a voicemail: +1.650.469.3421.
- Got news? Please forward press releases to: [email protected].
- Need consulting help from Glenbrook for one of your payments projects? Let us know your needs here - and we'll get right back to you!
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