On the Web:
- The Internet Needs a Better Way to Handle Money. This Startup Has the Key - Wired.com - "Stripe’s pitch is that it has created a kind of shorthand that lets coders access and leverage all the power of that infrastructure without having to learn its entire lexicon."
- The Unbanked: Offering Small Fees, Banks Cater to Low-Income Customers - New York Times - "For now, the banks are winning rare praise from regulators who are concerned about the ranks of people — roughly 10 million households in the United States — who are pushed onto the financial margins..."
- PayPal Expands Its Working Capital Service To UK, Switches From Loans To Cash Advances - TechCrunch - "PayPal, too, has an algorithm to decide how much to offer users: decisions are based on PayPal sales history, essentially."
- Bitcoin Sign-Ups for Intuit QuickBooks ‘Higher than Expected’ - CoinDesk - "He added that the data further supports this conclusion, saying: “We’ve seen more sign-ups than we expected”."
- PayPal signs "ten of thousands" customers in Nigerian launch - Reuters - "We have seen great uptake by Nigerians ... in terms of coverage," Malvina Goldfeld, PayPal's head of business development for sub-Saharan Africa, said in Lagos on Tuesday.
- Study: The Problem With Mobile Payments Isn’t Awareness — It’s Utility - Street Fight - "But they also do not see the utility: 34% of respondents said they did not use digital wallets because it’s just easier to pay with cash or credit."
- Reports of the death of cheques may be premature - Toronto Star - "But for now, cheques still make up 40 per cent of all payments made in Canada and won’t disappear anytime soon."
- Apple Passbook used more frequently than other digital wallets: report - Mobile Commerce Daily - "Passbook is used more on a weekly basis, with 60 percent saying they use Passbook weekly compared to 49 percent for Google Wallet and 40 percent for PayPal."
- Beacon Technology Could Pose Security Challenges, Vendor Says - Wall St. Journal - "But just as beacon technology, as it is called, leverages mobility to make an in-store sale, its use also carries with it two growing concerns associated with mobility: security and privacy."
On the Wires:
- TSYS Reports Second Quarter 2014 Total Revenues Increased 30.4% - "We set another milestone this quarter with total revenues of over $600 million for the first time in TSYS’ history. It was an outstanding quarter with our consolidated adjusted operating margin improving 357 basis points over the first quarter to 24.94%," said Philip W. Tomlinson, chairman and chief executive officer of TSYS.
- OT Expands Its M2M and IoT Offer to Application Enablement with Cumulocity - “Connected objects are expected to reach tens of billions by 2020. OT’s comprehensive, robust and flexible M2M offer is designed to help our customers tackle the challenges and seize the full benefits of upcoming Internet of Things growth while addressing the very important security aspects related to IoT. By joining forces with Cumulocity we are extending our offer beyond connectivity and security and moving up the M2M value chain” said Marek Juda, Managing Director of the Solutions Business Unit at OT.
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.
- Money2020 has become the go-to event in payments. We'll be there in force... will you? Use this promo code to register "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.
- Got news? Please forward press releases to: firstname.lastname@example.org.
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