"Saying cash is free is an uninformed dialogue. Cash costs everyone in society." says MasterCard's Banga #fi2020— MasterCard News (@MasterCardNews) October 28, 2013
On the web:
- Where’s the revenue going to come from? - Banking4Tomorrow (Brett King) - "The key skill sets in this new world will be the data scientists that understand when, why and how customers use bank products..."
- Meet the Exec Crafting Google’s Vision for the Future of Shopping (Maybe This Time It’ll Work!) - AllThingsD - "Something like NFC tap-and-pay was a well-intentioned bet at the time."
- Santander offers extra cashback on Amazon Christmas spending - Telegraph (UK) - "Santander is offering its credit card customers one per cent cashback on all Amazon purchases over the Christmas period."
- The Gift of Starbucks, in 140 Characters or Less - Starbucks (Adam Brotman) - "With tweet-a-coffee, you can easily tweet a $5 Starbucks Card eGift to the people on Twitter you’d love to meet for a cup of coffee but will probably never get the chance, or you can send one to a friend in another city."
- Feeling Generous? Visa Joins Starbucks With Tweet-A-Coffee - Visa Viewpoints - "Visa is teaming up with Starbucks to let Americans send the gift of coffee to anyone on Twitter through tweet-a-coffee."
- Starbucks, Twitter Launch Gifting Platform Via Tweets - "For Starbucks, it'll give the brand a new digital and social avenue to interact with consumers."
- Payfone Raises $10 Million, Valued at $500 Million - Bloomberg - "Payfone Inc., a provider of mobile-phone security, is raising $10 million from Early Warning Services LLC, a provider of fraud-detection tools for banks and financial-services companies."
- The Future Of Bitcoin Will Depend On Upcoming Startups, Regulatory Issues And China - TechCrunch - "While Bitcoin was initially a utopian dream come true, Bitcoin investors and entrepreneurs are now more realistic and know that they will have to deal with regulation."
- The Next Financial Inclusion Challenge: Private Sector Leadership - CGAP - "To meet the massive challenge of including the 2.5 billion people without access, financial services need to be delivered sustainably and at scale. Charity won’t do."
- Should We Ditch Cash for Good? - Bloomberg - "The disadvantages of cash won’t be missed -- and there are plenty of them."
- Square Cash – P2P on Steroids? - Core Dump (Deva Annamalai) - "Interestingly Square cash runs the whole transaction on a Visa/MC debit backbone API."
- Banks Can Thrive in the New Payments World - Bank Systems & Technology - "There's a sense of concern that non-banks are better positioned for payments innovation --they're not dealing with legacy systems, for example -- but at the same time, banks are aware that they have an opportunity to capitalize on the consumer trust and security they can offer in the payments space."
- The Impact of the U.S. Debit Card Interchange Fee Caps on Consumer Welfare: An Event Study Analysis - "Our estimate is that, based on the expectations of investors, the present discounted value of the losses for consumers as a result of the implementation of the Durbin Amendment is between $22 and $25 billion."
On the wires:
- HID Global and Consortium Partners Receive U.S. Cyber Security Grant for Identity Protection and Verification Pilots Using Mobile Devices - "The consortium has been named the NSTIC Key Team, and the team’s pilot will be focused on enabling mobile phones and secure wearable devices such as rings or bracelets to be used like smart cards to secure applications and networks for a leading social media company, a health care organization, and the U.S. Department of Defense."
- U.S. Bank Partners with Mitek to Launch Mobile Photo Balance Transfer™ to Customers in November - "U.S. Bank recognizes the power of mobile imaging and its ability to enhance our customers’ experience by giving them new and innovative ways to access and manage their banking relationship with us, said Niti Badarinath, senior vice president and head of mobile banking at U.S. Bank.
- U.S. Bank Launches the U.S. Bank Visa Signature® Company Credit Card - "Unlike other business cards, no personal guarantor is required since the company is solely liable for all purchases."
- Survey Reveals Most Frequently Experienced Pain Points with Treasury Management Onboarding - "A paperless solution solves the key challenges with treasury fulfillment," said Joe Pitzo, vice president, Paperless Enterprise Solutions, WAUSAU Financial Systems.
- Union Bank Announces the Release of Receivables Straight Through Processing Solution - “Receivables STP goes beyond matching and lockbox. It provides an end to end solution that addresses each key step of the billing lifecycle.”
Updates from Glenbrook:
- Looking for consulting help from Glenbrook? Let us know your needs here - and we'll get right back to you!
- Join Glenbrook's Carol Coye Benson and Scott Loftesness for our Glenbrook Payments Boot Camp on December 10-11th in Palo Alto, California!
- Glenbrook's Elizabeth McQuerry will be speaking on New Payments Regulation in Brazil at the International Money Transmitter Conference in Miami, Nov 4-7, 2013.
- Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews