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Virtual Currency

Welcome to the News View for "Virtual Currency".

Here, on these archive pages, you'll find all of the articles on Payments News for Virtual Currency listed in date sequence beginning with the most recent article at the top of the page.

Click here for a complete listing of what's available in the Payments News Archive - organized by both posting date and subject category.

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May 04, 2016

Headline News from PaymentsNews.com - May 4, 2016

ON THE WEB

  • Five Answers – Sort of – to the Big Questions on Blockchain and Bitcoin - PaymentsViews.com (Carol Coye Benson) - "I’m back from two days at Consensus 2016 in NYC, and reporting as promised into my investigation of the Five Big Questions."
  • 21 Inc Unveils Plan to Make Every Computer a Bitcoin Computer - CoinDesk - "Freely available, the software allows any connected device to join the 21 network, enabling connectivity with the 21 Marketplace and providing capabilities that were previously only available to owners of the 21 Bitcoin Computer."
  • Financial fraud targeting older adults often involves appeals to emotions like anger, excitement - Stanford News - “When emotionally aroused, either excited or frustrated, older adults may be more susceptible to being victimized by scammers than are younger individuals,” said Ian H. Gotlib, the David Starr Jordan Professor of Psychology and chair of the Stanford Psychology Department. “In the present study, they were more likely to want to pay for an item advertised misleadingly, regardless of how credible they believed the advertisement was.”
  • Faster Payments: Is Same-Day Fast Enough? - FIS Payments Leader - "Markets around the world have been rolling out real-time payment systems over the last decade. But is the instant gratification from true real-time payments the only solution for unmet consumer and corporate needs? Would same-day payments meet most, if not all, of the same needs?"

ON THE WIRES

  • Kohl’s Charge and Yes2You Rewards Now Easy as One Tap in Apple Pay - “Kohl’s is blending the physical and digital shopping experiences in more ways than ever before. Offering conveniences to Kohl’s customers that make it easy for them – like a seamless one-tap checkout in Apple Pay that integrates our value-driven Yes2You Rewards loyalty program – is one of the ways that we are leading as an omnichannel retailer,” said Ratnakar Lavu, Kohl’s chief technology officer.
  • Android Pay and Samsung Pay now available for BBVA Compass cardholders - "In today's fast paced world, it's imperative that we ensure our customers' need for convenience is kept at the forefront," said BBVA Compass Director of Payments Ryan Kraynick. "Android Pay and Samsung Pay are payment options that may make customers' lives a little easier."
  • i2c Expands Platform-Level Payment Control Features - "With card controls features integrated in our platform, issuers can more easily provide consumers with customizable features like real-time alerts that give them immediate updates on critical account information like suspicious transactions," said Lisa Fugate, vice president, credit processing, at i2c. "i2c was the first payment processor to offer card controls, and industry adoption has confirmed their value to issuers and cardholders."
  • Affirm Appoints eBay Executive Carl Gish as Company’s First Chief Marketing Officer - “eBay notwithstanding, the kind of skills and know-how Carl built while developing the Dove Real Beauty campaign for Unilever, and as Dyson’s North American CMO, is exactly the deep consumer brand marketing expertise and talent Affirm needs in its next wave of growth,” said Affirm Chief Executive Officer (CEO) Max Levchin.
  • Entrust Datacard Achieves Instant Issuance Milestone – Over 10 Million EMV Chip Cards Instantly Issued within the U.S. in One Year - "Giving consumers the ability to walk into a branch location to immediately receive an EMV card has helped turn a consumer experience from negative to positive."
  • Nuspay Selects Microsoft Azure for Next-Gen Digital Currency Platform - "The Nuspay Digital Currency (NDC) cryptocurrency ecosystem was engineered to meet and exceed the current and future challenges facing governments, central banks, monetary authorities and enterprises seeking to deploy digital currency. Additionally Nuspay is in the process of developing an international digital currency exchange with planned sites in Singapore and the Caribbean."
  • 3dcart Now Offers Comprehensive Vantiv Payment Processing Integration to Online Stores - “3dcart is committed to creating tight integrations with the best eCommerce partners on the market, and the results of those initiatives help provide online merchants with access to diverse payment processing options,” said 3dcart CEO Gonzalo Gil.

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming up in May - both in Palo Alto, CA - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

UPDATES FROM GLENBROOK

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

April 28, 2016

Headline News from PaymentsNews.com - April 28, 2016

ON THE WEB

ON THE WIRES

  • MasterCard Incorporated Reports First-Quarter 2016 Financial Results - “The year is off to a good start with solid growth in revenue due to strong volume and transaction levels this quarter,” said Ajay Banga, president and CEO, MasterCard. “We continue to deliver against our strategy, looking to our investments and acquisitions to create a better cardholder experience, supported by a relentless commitment to security."
  • M/Chip Fast from MasterCard Speeds EMV Transactions and Shoppers Through Checkout - "As with standard EMV, M/Chip Fast provides counterfeit fraud protection by creating a unique code for each transaction. Once the code is generated, the card can be removed from the reader with the goal of both decreasing the processing time of the transaction and reducing the cardholder perception of a longer wait at checkout."
  • Start-ups Invited to Dive Into the Visa Developer Sandbox as Part of Second Annual Everywhere Initiative - “With payment and marketing innovation happening at break-neck speed, Visa is once again asking the start-up community for their best ideas to help move the industry forward,” said Shiv Singh, senior vice president, digital and marketing transformation at Visa. “With Visa’s rich set of APIs and SDKs, we are especially excited to see how our open platform can help fuel additional payment innovation with this year’s challenges.”
  • Visa Opens its First Innovation Center in Asia - “The pace of technological innovation across Asia Pacific is unprecedented and creating enormous opportunity for any company that touches the growing payment ecosystem,” said Chris Clark, group executive, Asia Pacific, Visa Inc. “With the doors of Visa’s Singapore innovation center now officially open, we look forward to working alongside clients and partners to imagine and build the creative and leading-edge mobile and digital experiences Asia Pacific is known to deliver to the rest of the world.”
  • Perk.com Inc. Adds Perk Points as Payment Method on the SuperRewards Platform - Ted Hastings, Chief Executive Officer of Perk.com, says, “In the payments industry, one of the most important developments of the 21st century is that people are able to make purchases with their time and attention rather than with physical money."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming up in May - both in Palo Alto, CA - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

UPDATES FROM GLENBROOK

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

March 29, 2016

Headline News from PaymentsNews.com - March 29, 2016

ON THE WEB

ON THE WIRES

  • Federal Reserve Engages in Effort to Assess Faster Payments Solutions - "The Federal Reserve on Tuesday announced the selection of McKinsey & Company to support Faster Payments Task Force efforts this year to assess faster payments solution proposals from various providers across the United States payments industry."
  • SWIFT signs MoU with China’s CIPS - "SWIFT has signed a memorandum of understanding (MoU) that sets out plans to develop China’s Cross-border Interbank Payment System (CIPS) using SWIFT as the secure channel to connect CIPS with its global user community."
  • Survey: 73% of American Companies Were Targets of Payments Fraud in 2015 - "Let there be no doubt: Payments fraud is an enormous challenge for all organizations," said Jim Kaitz, president and chief executive officer of AFP. "One of the toughest payments fraud challenges we are seeing is BEC scams, which are growing increasingly sophisticated and successfully infiltrating email systems at numerous organizations."
  • JPMorgan Chase Institute Launches Local Consumer Commerce Index of Everyday Spending in 15 U.S. Cities - "Unlike many existing sources of data on consumer spending, the LCCI captures actual transactions, instead of self-reported measures of how consumers think they spend. The index’s geographically specific data provide a granular and timely view of how cities and their surrounding metro areas are faring on a monthly basis. Further, the LCCI captures economic activity in consumer facing retail and services sectors that previously have not been well understood by other data sources."
  • Global Payments Announces Full Support for Samsung Pay in China - “Global Payments is delighted to bring innovative commerce to merchants in China by supporting Samsung Pay,” said Frank T. Young, SVP, Global Product and Innovation. "Our continued commitment to leading payments technology across the globe allows us to offer another form of mobile payment acceptance to the broadest set of merchants."

GLENBROOK PAYMENTS EDUCATION EVENTS

Our next Glenbrook payments education events are coming up in early April - both in New York City - we hope to see you there!

Bring your colleagues along! Group discounts are available. For more information or to learn about our private workshops conducted at your location, contact Glenbrook's Russ Jones.

UPDATES FROM GLENBROOK

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

January 20, 2016

Headline News from PaymentsNews.com - January 20, 2016

ON THE WEB

ON THE WIRES

  • New IMF Staff Paper Looks at How to Reap the Benefits and Curtail the Risks of Virtual Currencies - "Achieving a balanced regulatory framework that guards against risks without suffocating innovation is a challenge that will require extensive international cooperation, says a new staff paper, “Virtual Currencies and Beyond: Initial Considerations,” released today by the International Monetary Fund (IMF) during the World Economic Forum."
  • R3 brings eleven major global financial institutions together on a cloud based distributed ledger - "R3 and consortium member banks Barclays, BMO Financial Group, Credit Suisse, Commonwealth Bank of Australia, HSBC, Natixis, Royal Bank of Scotland, TD Bank, UBS, UniCredit and Wells Fargo each connected on an R3-managed private peer-to-peer distributed ledger, underpinned by Ethereum technology and hosted on a virtual private network in Microsoft Azure, the public cloud platform offering Blockchain as a Service (BaaS) in an accelerated development environment."
  • Global Payments Partners with Mobeewave to Offer Innovative Add-On-Free Mobile Payment Acceptance Solution - "The solution is designed to enable secure, in-person payment transactions, made with any contactless credit card or mobile wallet (e.g. Apple Pay®, Samsung Pay, Android Pay™), directly on an NFC-enabled mobile device, without the need for additional hardware such as a card reader or dongle."
  • Western Union Cross-Border Platform Connects Consumers to over One Billion Bank Accounts - "“The account payout network capability represents a natural evolution in Western Union's cross-border platform and omni-channel strategy to reach new digital-savvy, banked and mobile enabled consumers. Western Union is actively pursuing digital innovation enterprise wide, increasing consumers’ choice of money transfer channels and facilitating financial inclusion in emerging countries around the world."
  • InComm Digital Solutions Introduces Digital Open-Loop Prepaid Products - "The new products are digital versions of Visa gift or reward cards delivered to an email address and are redeemable on any U.S.-based e-commerce site where Visa debit cards are accepted."
  • Nielsen Study: Innovation in Mobile Technology, Payment Options & Retail Strategy Drive Borderless Shopping - "As technology and the retail landscape rapidly evolve, payment practices are also changing. More than half of respondents who say they shopped online during the past six months paid with a traditional credit card (53%), but roughly four-in-10 used a digital payment system such as PayPal (43%), debit card (39%) or direct debit from their bank account (38%)."
  • Merchants to Face More Chargeback Challenges as CNP Fraud Escalates - "Our research revealed that almost two-thirds of physical goods merchants believe that outsourcing fraud mitigation and chargeback management has become cost effective. We believe working with a third-party solution provider who specializes in end-to-end management of CNP transactions will be the future for online merchants who are already at a higher risk for this type of fraud than their brick-and-mortar peers."
  • Moneris launches business-to-business payment solutions to optimize commercial card acceptance - "Moneris' B2B services target business suppliers accepting payments from commercial customers and card issuing partners who require support enabling suppliers for card acceptance. Suppliers will be offered accounts receivable solutions that move them off of traditional cheque and invoicing systems, speed up payment delivery times and optimize business operations. Card-issuers will benefit from supplier enablement services that help simplify the migration to electronic payment acceptance for suppliers. "
  • Visa Inc. Appoints Lynne Biggar as Chief Marketing and Communications Officer - "While at Time Inc., Ms. Biggar was responsible for marketing to consumers for all Time Inc. brands across all channels, direct marketing company Synapse, Time Inc. Retail, Time Inc. Books, Consumer Insights, Data Solutions and Time Customer Service. Prior to her role at Time Inc. she spent more than 20 years at American Express in a variety of general management and marketing positions in both the US and international divisions and was a member of the company’s Global Management Team."

EVENTS

  • Payments in Portland (OR) - Join us Thursday, January 28th from 5:30-7:30 PM to hang out with your colleagues and competitors to discuss all things payments! We'll have appetizers, Oregon beer and wine. For the first time, Payments in Portland is including a short topical briefing - this month on "B2B Payments - Promise and Problems." If you have a Portland payments presence and something to say on B2B payments, let us know! RSVP HERE!
  • Real Time Payments in the US: Implications for the Payment Industry - Atlanta, GA - February 10, 2016. Glenbrook's Elizabeth McQuerry will be moderating this discussion on what "faster payments" really means, how it's been implemented in other countries, and how it may shape banking and how we pay.

UPDATES FROM GLENBROOK

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

December 22, 2015

Headline News from PaymentsNews.com - December 22, 2015

PROGRAMMING NOTE

  • This is our last edition of 2015. Payments News will be taking a publishing hiatus for the holidays! We'll be off starting Dec. 23 through Jan. 3 - our next edition will be published on Monday, January 4. I want to extend to you my best wishes for a happy holiday season and a wonderful New Year! I'll see you next year!

ON THE WEB

  • AmEx reinstates rule prohibiting merchant steering - MarketWatch (Robin Sidel) - "After receiving a favorable court ruling last week, American Express Co. is reinstating its longtime policy that prohibits merchants from steering customers to cheaper forms of payment."
  • How Blockchain Will Transform Business and Society - IBM Think Blog (Arvind Krishna) - "It’s essential for blockchain technology to be developed following the open source model so a critical mass of organizations will coalesce around it—and reap its full benefits."
  • Starbucks is 2015 Mobile Retailer of the Year - Mobile Commerce Daily - "Perhaps no other retailer today better understands the crossover between customers’ love affair with their smartphones and when and where they want to engage with the brand..."
  • National Security Implications of Virtual Currency - Rand Corporation - "This report examines the feasibility for non-state actors, including terrorist and insurgent groups, to increase their political and/or economic power by deploying a virtual currency (VC) for use in regular economic transactions."
  • How Jack Dorsey Runs Both Twitter, Square - Wall St. Journal - "For now, Mr. Dorsey appears to be sticking to a meticulous schedule with long hours."
  • SpaceX finally achieves its first successful landing - Economist - Editor's note: This has nothing to do with payments but a lot to do with economics - and technology. I couldn't resist mentioning it!

ON THE WIRES

  • Idaho Department of Agriculture is First to Launch NIC’s eGovExpress Digital Wallet - "Serving as a virtual pocketbook, eGovExpress securely consolidates Visa, MasterCard, Discover, American Express, pre-paid gift cards and electronic check information into one password-protected online location, thus eliminating the need for customers to juggle multiple accounts in various places and repeatedly enter payment information."

UPDATES FROM GLENBROOK

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

October 06, 2015

Headline News from PaymentsNews.com - October 6, 2015

On the Web

  • It’s About the Blockchain - PaymentsViews.com (George Peabody) - "2015’s story is the interest of fintech vendors, financial institutions, start-ups, and other enterprises in what blockchain ledgers have to offer. We’re seeing experimentation built on the bitcoin blockchain itself."
  • Turkey launches a national credit card system - Daily Sabah - "Turkey launched a new electronic card payment clearing system, the Istanbul-based InterBank Card Center (BKM) announced yesterday. The system, named "TROY," will be operational from April 1, 2016, the BKM said."
  • Apple Pay Makes Inroads for Everyday Purchases - eMarketer - "Mobile payments are slow to catch on among the general population, but early adopters of the Apple Watch are also rapidly adopting Apple Pay, research suggests."
  • Apple Pay Faces Tough Crowd in First Year - Bloomberg - "Apple Inc. Chief Executive Officer Tim Cook has called 2015 the “year of Apple Pay.” So far it’s been underwhelming."
  • Note to Payments Innovators: You Need a Value Proposition! - Credit Slips (Adam Levitin) - "The Fed is moving full-speed ahead on developing a faster payment system. But very few consumers actually need such a system. For all the complaints about our dated mag stripe card payments, they work really, really well. It's hard to come up with a clear value proposition for any replacement."
  • Trump Hotel Collection Confirms Card Breach - "The Trump Hotel Collection, a string of luxury hotel properties tied to business magnate and Republican presidential candidate Donald Trump, said last week that a year-long breach of its credit card system may have resulted in the theft of cards used at the hotels."
  • Australian Banks Unfriendly Towards Digital Currency - NewsBTC - "Not only will a negative attitude toward bitcoin affect the Australian market, but it could spread further afield. Many are fearful that this decision could have a long lasting negative effect that would influence the the country’s regulation process and opinions of consumers and lawmakers in other countries."
  • How Kenyan Banks Lost to Mpesa - Payments Africa - "Mpesa, a wildly successful payment platform contractually licensed to Safaricom, has prospered at the expense of what would have been banking services. Kenya’s banks have taken a back seat as Mpesa leads the payments market. It wasn’t always like this."
  • Santander InnoVentures Adds $4 Million to Ripple’s Series A Round - CoinDesk - "Ripple has received an additional $4m in funding from Santander InnoVentures, bringing its Series A total to $32m."
  • A New Chapter for Ripple - Ripple Blog - "We’re no longer experimenting. We’re delivering. That’s why we’re dropping the ‘Labs’ from Ripple Labs. From now on, it will just be Ripple—and Ripple is growing up."

On the Wires

  • MasterCard Identity Check to Simplify and Strengthen Online Shopping - "MasterCard today introduced MasterCard Identity Check, a suite of technology solutions that leverage advanced technologies to prove a consumer’s identity and further simplify the online shopping experience."
  • Visa and Chevron Bring Mobile Payments to the Pump - "Visa Inc. and Chevron U.S.A. Inc. today announced they will launch a mobile payments program at more than 20 Chevron-branded stations, accepting any NFC (near-field communications) payment service. The program, launching later this fall at select Chevron stations in San Francisco and Silicon Valley, will offer consumers a simple and more secure way to pay at the pump with a range of mobile payment services."
  • Visa Inc. Appoints Demetrios Marantis to Lead Global Government Relations - “I’m honored to join Visa at an incredible time in this dynamic industry,” said Marantis. “The payments ecosystem is rapidly changing, and I am excited to be part of an organization leading the conversation about digital payments in an increasingly mobile world, both in the United States and globally.”

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

July 31, 2015

Headline News from PaymentsNews.com - July 31, 2015

On the Web:

On the Wires:

  • Visa Inc. Appoints Eduardo Coello to Leadership Role for the Latin America and Caribbean Region - “I couldn’t be more pleased to see Eduardo Coello continue to lead Visa’s growth for LAC,” said Eduardo Eraña, current Group Executive for Visa Inc. LAC. “With his deep knowledge of the region, strong client relationships, proven industry expertise, and passion for innovation, he is the right leader to grow the business and further extend Visa’s leadership position.”
  • Heartland Introduces Heartland Out-of-Scope Solution for pcAmerica’s POS Merchants - "The Heartland Secure out-of-scope solution streamlines the POS provider’s path to Europay, MasterCard and Visa (EMV) acceptance by taking the POS system completely out of the payment authorization process, which means no cardholder data is ever sent to the POS system."
  • Springboard Retail and Heartland Partner to Deliver Integrated Retail Solutions for Small Businesses - “Springboard Retail, designed by retailers, helps retailers drive sales, improve efficiency, and lower operating costs to be competitive in today's omni-channel retail world,” says Springboard Retail co-founder and CEO, Gordon Russell. “Springboard's simple and transparent pricing aligns well with Heartland's approach and Springboard Retail is pleased to endorse the Merchant Bill of Rights. By partnering with Heartland, Springboard Retail furthers our mission of helping our retailers grow and prosper now and into the future.”
  • Discover Card Offers a Good Grades Reward Program - "New student cardmembers who apply after July 23, 2015 will be rewarded with $20 in Cashback Bonus® if their grade point average is 3.0 (or equivalent) or higher each year they are enrolled in school, for the first five years from the account opening."

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

July 13, 2015

Headline News from PaymentsNews.com - July 13, 2015

On the Web:

On the Wires:

  • Your Community App Powered by U.S. Bank Launches - “We are continually looking for new and innovative ways to connect with our customers through their mobile devices,” said Dominic Venturo, chief innovation officer for U.S. Bank. “Your Community also allows our business clients to make offers available to individuals near the merchants’ locations. We encourage everybody to download the app and check out all the offers and helpful financial tips.”

  • NCR Small Business Launches NCR Silver Concierge Program, Continues Transition to an Added-Value Services Provider - “Small businesses have great technology at their disposal but often don’t have the luxury of spending time maximizing its potential or making sure elements such as menus are up to date,” said Chris Poelma, president, general manager of NCR Small Business. “We have launched NCR Silver Concierge with the goal of helping merchants maximize their time and technology spend in a way that delivers a quick return on investment, simplifies their businesses, and helps them make better business decisions.”

  • Synchrony Financial and Newegg Introduce Two New Consumer and Business Financing Programs - “We’re excited to work with a company that shares our passion for delivering excellent customer service and a comprehensive shopping experience,” said Glenn Marino, executive vice president and CEO, Payment Solutions, Synchrony Financial. “Offering financing options to individual and business consumers will enhance that experience, providing more purchasing power and flexibility to help them get the products they want and need.”

  • legeus Technologies Introduces Innovative Card-Based Reimbursement Method for Consumer Directed Healthcare Claims - "With card-based reimbursement, consumers receive their reimbursed dollars directly onto their benefit debit cards. The reimbursed funds are credited to a special ‘purse,’ linked to consumers’ existing cards. This reimbursement purse is designed to be completely unrestricted, allowing consumers to use their card to spend their reimbursed dollars anywhere, for anything."

  • Payment Alliance International Offers CardFlight EMV Mobile POS - "The multi-faceted co-branded solution provides encrypted EMV-ready mobile card readers that attach to iOS and Android devices via audio jack, payment acceptance applications, a real-time reporting and administrative dashboard, and a reseller portal for easy on-boarding and portfolio management. Transactions will be processed by PAI through CardFlight’s Payment Card Industry (PCI) Level 1 compliant payment gateway."

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

July 07, 2015

Headline News from PaymentsNews.com - July 7, 2015

On the Web:

On the Wires:

  • Elavon Partners with Emdeon to Launch Transend Pay That Speeds Up Healthcare Insurance Payments - "With Transend Pay, claim payments from participating insurance payers are deposited automatically into a hospital or healthcare provider’s bank account on file with Elavon and are reported on bank statements and MerchantConnect.com, Elavon’s online customer reporting tool. Because Emdeon serves as the clearinghouse for the paying insurance companies, protected health information remains secure via this new processing platform."
  • TSYS Extends Relationship with U.S. Bank - "TSYS announced today that it has signed a long-term renewal with U.S. Bank. As part of the agreement, TSYS will continue to support the bank’s commercial card payment services in the United States, Europe and Canada, and will also support their acquiring business."
  • Payment Alliance International Adds Digital Fundraising Capabilities to ATMs - “Adding the Digital Donations technology to ATMs is a game changer for everyone involved,” stated John J. Leehy III, president and chief executive officer for PAI. “There are so many worthy causes that deserve our support. Now retailers and ATM operators have an efficient way to get involved and really do some good,” added Leehy.

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

April 20, 2015

Headline News from PaymentsNews.com - April 20, 2015

On the Web:

  • The Year Of Mobile Payments - TechCrunch - "Expectations have changed. The proliferation of mobile money services shows that people – even the unbanked – demand better than the lengthy queues, cumbersome processes, and high fees offered by the incumbent international money transfer “super racket.”"
  • ICICI Bank launches ‘Tap n Pay’, a contactless payment service in arrangement with Tech Mahindra - Telecom Tiger - "‘Tap n Pay’ is a prepaid account, which can be availed by customers of any bank by simply registering for it and transferring money online from any bank account. ICICI Bank customers can also transfer money to the Tap-n-Pay account through an SMS. To start with, this solution is being offered at large campuses of corporate offices."
  • Samsung SDS enters biometric security business - Korea Times - "This system will be applied to all devices that need to receive user authorization such as smartphones, vehicles, IoT-based devices, door locks, smart homes, shopping, transaction and financial products," Kim said. "All corporate clients in those areas are our potential customers."
  • Westpac boss sees NZ as innovation lab - New Zealand Herald - "Westpac Group chief executive Brian Hartzer has embarked on a mission to transform the bank into a world-leading service company, with the Kiwi operations playing a Trojan horse role when it comes to innovations."
  • New Law to Strip Social Security Numbers From Medicare Cards - New York Times - “The Social Security number is the key to identity theft, and thieves are having a field day with seniors’ Medicare cards,” said Representative Sam Johnson, Republican of Texas...

On the Wires:

  • Verifone selects Thales to protect card holder data - "Thales, leader in critical information systems and cybersecurity, announces that Verifone now uses Thales nShield hardware security modules (HSMs) for its end-to-end payment encryption solution – VeriShield Total Protect – to provide robust, high speed, scalable crypto to protect card holder data, whether transmitted from a card or mobile device, right from the moment of capture."
  • GlobeOne Announces LOI with MetaBank to Bring New Mobile Banking Network to United States - "GlobeOne expects to launch in the United States and Mexico in the fourth quarter of 2015, and it will expand its integrated global network as new banking partners are secured around the world. GlobeOne’s innovative app will offer a no-minimum demand deposit account with debit card, a security savings account, a line of credit, domestic and international transfers between GlobeOne members, and access to the global income-building SocialBoost program, which gives members the opportunity to earn a new income stream while helping those who need it most."
  • WEX Virtual Payments Expands Currency Offering in Europe - Myles Stephenson, managing director of WEX Europe said, “We’ve listened to our customers’ needs and business challenges, and implemented a solution that provides even more cost-effective ways to make international payments. This update enables WEX Europe customers to pay their global suppliers in local currencies more efficiently.”
  • Entrust Datacard Enters Strategic Partnership with Financial Software and Systems (FSS) - Commenting on the partnership, Nagaraj Mylandla, managing director of FSS, said, “FSS has always been on the forefront of bringing new technologies to the payments domain in India. Today, banks in India are focusing on new technologies to build a deeper engagement with their customers. The hosted instant card issuance solution that we are introducing through our partnership with Entrust Datacard is one such technology that will assist banks in India to achieve service excellence.”
  • EastPay Launches Subsidiary, EastPay Advisory Services - "EastPay, a Regional Payments Association, has announced the formation of EastPay Advisory Services, a wholly-owned subsidiary that will provide payments risk management, compliance, and consulting services to financial institutions and businesses."

Glenbrook's 2015 Payments Education

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

April 06, 2015

Headline News from PaymentsNews.com - April 6, 2015

On the Web:

  • Wal-Mart Treasury Exec: Chip & Signature is ‘Worthless’ - AFP - "During a presentation at the Electronic Transaction Association’s Transact conference in San Francisco last week, Mike Cook, senior vice president and assistant treasurer for Wal-Mart, called signature “worthless as a form of authentication” and criticized the rollout of chip-and-signature cards in the United States."
  • More Prepaid Debit Cards Come Without Monthly Fees - Wall St. Journal - "A new survey released Monday by Bankrate.com found that prepaid debit cards are carrying fewer fees and offering customers more chances to avoid additional costs that may be tacked onto the account."
  • FacePay? - TechCrunch - "What if buying something was as easy as Liking it? You’d probably buy a lot more, and buy it through whoever made it so damn simple."
  • Big Investor Involvement Could Boost Bitcoin - Wall St. Journal - “They are all very interested, but it comes down to having some kind of regulatory clarity as well as to the technology available—whether you have something they feel is trustworthy, whether you have a big enough capital base, whether you have good enough technology...”
  • Hacking ATMs, Literally - Krebs on Security - "An ATM technician and KrebsOnSecurity reader shared photos of a recent attack in which three would-be robbers went to town on a wall-mounted cash machine with crowbars and hammers."
  • No cash, no cards - digital currencies and mobile wallets are the future of retail banking - Zawya - "At some stage there will be no cash, no cards, just mobile wallets - everything will be online. Finally digital currencies like Bitcoin, will dominate, at present there are 50,000 transactions a month resulting in billions of dollars of digital currency."
  • Is Mickey Mouse showing us the future of credit cards? - CreditCards.com - "About a year ago, Disney World began offering what it calls "MagicBands" to its annual pass holders and to guests staying at Disney resorts."

On the Wires:

  • Elavon Strengthens its Suite of EMV Offerings with Commerce SDK, Now Enhances Consumer Payment Experience with Apple Pay™ Powered by talech and Ingenico - "The Commerce SDK comprehensive kit accelerates a business’ ability to implement a secure, EMV-compliant payment solution by combining Elavon’s global payment processing, EMV certification coding, encryption and tokenization implementation and hardware support for printers, terminals and mobile devices into one package that is easy to integrate."
  • Brink’s and NetSpend Launch Brink’s Prepaid MasterCard - “Prepaid cards empower those without traditional banking relationships by equipping them with the tools, resources and education to take control of their financial lives and spend responsibly,” said Jeff Feuerstein, group head, U.S. Prepaid, MasterCard. “Access to reputable prepaid offerings from trusted brands such as Brink’s provide cardholders the opportunity to take advantage of all the benefits of electronic payments, including having a secure and convenient means of making purchases, tracking spending, setting budgets and more.”

Glenbrook's 2015 Payments Education Update!

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

February 27, 2015

Headline News from PaymentsNews.com - February 27, 2015

On the Web:

On the Wires:

  • Visa to Acquire TrialPay - "As a payments technology partner to merchants globally, Visa will integrate TrialPay into its product portfolio as a simple, cost-effective way to help merchants acquire customers, drive traffic, and increase sales by reaching Visa cardholders with targeted offers."
  • CaixaBank develops new biometrics-based financial services - "CaixaBank launches the first application in Europe to support online banking transactions using voice commands. This represents the bank’s first service to explore the possibilities offered by biometrics to enhance customer interaction with banking channels."
  • American Express Adds New Benefits to Premier Rewards Gold Card - “We’re making one of our most popular cards even better. This latest investment for our Premier Rewards Gold Card Members is designed to deepen our relationship by providing more value in the areas they spend most -- from everyday spending on things like gas and groceries, to dining and larger travel purchases,” said Lisa Durocher, SVP, Consumer Charge Cards & Benefits at American Express.

Glenbrook's 2015 Payments Education Schedule Now Available!

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

February 23, 2015

Headline News from PaymentsNews.com - February 23, 2015

Glenbrook Meetup in Chicago - Wednesday, Feb 25

On the Web:

  • The Slow, Steady March Towards Digital Money - Wall St. Journal CIO Report (Irving Wladawsky-Berger) - "On January 27, Citi and Imperial College held their third annual Digital Money Symposium in London. As in previous years, the Symposium convened a group of leaders in their field to explore the state of adoption of digital money and its economic and societal impacts around the world."
  • How Technology Is Tricking You Into Tipping More - TechCrunch - "Digital payment systems use subtle tactics to increase tips, and while it’s certainly good for hard-working service workers, it may not be so good for your wallet."
  • Green Dot is targeting the 'unhappily banked' for its prepaid cards - Los Angeles Times - Streit said Green Dot targets people who are "unhappily banked, meaning you have a checking account somewhere and you just don't like it."
  • Visa research shows Australians set to embrace paying with their phones - News.com.au - "The Visa research shows that nearly two thirds of all face-to-face Visa transactions use payWave, compared with just 14.7 per cent in Canada and 21.5 per cent in Singapore."
  • Apple Pay seems to be growing well - Finer Things in Tech - "First is the list of retailers from the Apple Pay website, unveiled alongside the iPhone 6 announcement in September 2014. Next is the most updated list as of February 21, 2015."

On the Wires:

Glenbrook's 2015 Payments Education Schedule Now Available!

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

January 19, 2015

Headline News from PaymentsNews.com - January 19, 2015

On the Web:

  • Wirecard’s Smart Band: A mobile wallet you wear around your wrist - GigaOm - "As with other the universal credit card concepts like LoopPay, Coin and Plastc; Wirecard lets you load a credit or debit card’s credentials into its device and use it to pay for goods in place of a plastic card. But instead of just emulating the digits on your card for a magnetic stripe reader, the Smart Band uses a new secure payments technology backed by Google, MasterCard and Visa called Host Card Emulation (HCE)."
  • Are you a Tier 1 or a Tier 2 token requestor? (It matters) - SimplyTapp Blog - "With all the talk about Token Service Providers and token requesting, I felt it was worth describing a bit more about the role of a "Token Requestor"."
  • BBA, Payments Council Respond to UK 'Call for Information' on Digital Currencies - CoinDesk - "The BBA, the leading group representing the UK's biggest banks, has issued a response to the government's 'Call for Information' on digital currencies."
  • How Was Your Credit Card Stolen? - Krebs on Security - "But it occurred to me recently that I’ve never published a primer on the types of card fraud and the likelihood with each of the cardholder ever learning how their account was compromised. This post is an effort to remedy that."

Glenbrook's 2015 Payments Education Schedule Now Available!

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

January 08, 2015

Headline News from PaymentsNews.com - January 8, 2015

Glenbrook's 2015 Payments Education Schedule Now Available!

On the Web:

On the Wires:

  • EMVCo to Manage Next Generation of 3D-Secure Specification - "The enhanced specification will support additional data available during the transaction that will enable more intelligent risk-based decisioning. It will also offer a more seamless consumer experience and reduces reliance on the cardholder to authenticate themselves via a password prompt, better integrating with a merchant’s offering and brand. The specification will also be enriched to support non-payment user identification and verification, as well as country-specific and regulatory requirements regarding cardholder authentication in the card-not-present environment."
  • China Jo-Jo Drugstores Signed Strategic Service Agreement with Alipay to Provide Online Payment Service to its Customers - Mr. Lei Liu, Chairman and CEO of China Jo-Jo, stated, "Our cooperation with Alipay gives us a great opportunity to get access to Alipay's 300 million registered users who, like most Chinese consumers, are seeking more convenient pharmacy shopping experiences. In addition to maintaining our traditional customer base, we hope to attract more young, affluent, and tech-savvy consumers by answering to their needs for pharmaceutical and healthcare products."
  • Shift4 Delivers EMV Functionality Layered with Tokenization and Encryption to Prevent Breaches - Shift4 CEO Dave Oder said, "It is vital for merchants to adopt real card data security measures in addition to the highly publicized stopgap that is EMV. Security Beyond Compliance® is our mantra, and that's exactly what Shift4 delivers to our customers."
  • Fujitsu to Exhibit Integrated Retail Currency Handling and PalmSecure Biometric Solutions at the National Retail Federation Annual Event in New York - “With the increasing number of physical and cyber-attacks as well as the exposure of cash to external theft and internal shrinkage, we believe the concepts demonstrated in our booth will resonate with most retailers,” says Randy Fox, vice president, currency handling and identity product solutions, Fujitsu Frontech North America Inc. “The unique application of biometrics as a method for positive logical and physical access control will be more commonplace at POS and in back-office cash handling locations.”

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

November 17, 2014

Headline News from PaymentsNews.com - November 17, 2014

On the Web:

On the Wires:

  • Apple Adds UnionPay Payment Option for App Store Customers in China - “The ability to buy apps and make purchases using UnionPay cards has been one of the most requested features from our customers in China,” said Eddy Cue, Apple’s senior vice president of Internet Software and Services. “China is already our second largest market for app downloads, and now we’re providing users with an incredibly convenient way to purchase their favorite apps with just one-tap.”
  • Blockstream closes $21M seed round - "I’m excited to announce today Blockstream closed a $21 million seed round. Our nearly 40 investors include many well-known pioneers of the Internet and financial services sectors."
  • Scripps Networks Interactive and Hearst Magazines Create Original Cross-Platform Content Partnership to Support the Launch of the Citi® Double Cash Card - "Citi, Scripps Networks Interactive and Hearst Magazines today announced a cross-platform marketing relationship that presents seasonal cooking, entertaining and gifting ideas across Food Network and HGTV digital and magazine properties to support the launch of the Citi Double Cash Card."
  • MoneyPass Network Partners with MasterCard on U.S. Common Debit AID Solution - “Our collaboration with MasterCard will enable the MoneyPass Network to process chip-based ATM transactions on MasterCard Debit cards,” said Troy Cullen, President of Elan Financial Services. “We are confident the agreement we have reached with MasterCard will further expand EMV adoption goals within the United States."
  • Dollar General Now Accepting American Express - “We strive to provide our customers with a simple and hassle-free shopping experience,” said Todd Vasos, Dollar General’s chief operating officer. “The acceptance of the American Express card makes shopping even easier by offering additional flexibility in customers’ payment choices and is consistent with many of our new initiatives, including DG Digital Coupons, which are all aimed at making it easy to save time and save money at Dollar General.”

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

November 04, 2014

Headline News from PaymentsNews.com - November 4, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

September 23, 2014

PayPal Adds Bitcoin Support via BitPay, Coinbase and GoCoin

PayPal new 140pxIn a blog post this morning, PayPal's Scott Ellison, Senior Director Corporate Strategy, announced that PayPal "has entered into agreements with leading Bitcoin payment processors BitPay, Coinbase and GoCoin. Starting today, these agreements let PayPal digital goods merchants accept Bitcoin with a simple integration through the PayPal Payments Hub. This will be available to merchants in North America first."

To be clear, today’s news does not mean that PayPal has added Bitcoin as a currency in our digital wallet or that Bitcoin payments will be processed on our secure payments platform. PayPal has always embraced innovation, but always in ways that make payments safer and more reliable for our customers. Our approach to Bitcoin is no different. That’s why we’re proceeding gradually, supporting Bitcoin in some ways today and holding off on other ways until we see how things develop."

Ellison went on to note: "PayPal also needs to follow the laws and regulations in every market we operate. For this reason, virtual currency exchangers and administrators interested in working with PayPal in the future must secure the appropriate licenses and put anti-money laundering procedures in place."

August 12, 2014

Headline News from PaymentsNews.com - August 12, 2014

On the Web:

  • Back to Square One - Fast Company (Austin Carr) - "There's need for the urgency. Square's Reader and Register products are no longer unique; a slew of upstarts and big rivals such as PayPal, NCR, and VeriFone now offer their own equivalent iPad systems, which threaten to eat away at Square's merchant share and payments business."
  • Reviewed: Xapo’s Bitcoin Debit Card - CoinDesk - "Upon debut, CoinDesk finds that the Xapo Debit Card has potential to be a useful bitcoin spending tool, but there are a few hiccups it must overcome first."
  • Shift Is Developing A Debit Card That Lets You Spend Digital Currency, Loyalty Points And Regular Money - TechCrunch - "In the San Francisco Bay Area and elsewhere in the world, 100 people are testing out a debit card that lets them pay with bitcoin and Ripple, and, in the future, regular money and loyalty points."
  • Partnering with Clover & First Data - GoodLabs Blog - "With such massive scale, we were obviously thrilled to launch our first in-store integration on their Clover platform, and we can’t say enough awesome things about partnering with them."
  • First Data: Gyft Deal Will Help Us Evaluate Bitcoin - CoinDesk - "...though the focus of the acquisition was Gyft’s mobile gift card platform, the company intends to take advantage of Gyft’s position in the bitcoin space to further its knowledge of emerging payment methods."
  • Black Hat 2014: A New Smartcard Hack - IEEE Spectrum - "The U.S. scheme is a mixture, with some banks issuing chip-and-PIN cards and others going down the signature route. We may therefore be about to see a large natural experiment as to whether it is better to authenticate transactions with a signature or a PIN."
  • Improving Mobile Security with Biometrics - Portals and Rails Blog - "No matter what biometric authentication methodology a system uses, the most important step is validating each customer's biometrics upon enrollment in the program."
  • New York Prosecutors Charge Payday Loan Firms With Usury - New York Times - "Beneath the dizzying corporate structure, prosecutors said, was a simple goal: make expensive loans even in states that outlawed them."

On the Wires:

  • FleetCor Agrees to Acquire Comdata for $3.45 Billion - "As an issuer and a processor, Comdata provides fleet, virtual card, and gift card solutions to over 20,000 customers. It has approximately 1,300 employees and enables over $54 billion in payments annually."
  • Square Announces New Accounting and Inventory Integrations for Canadian Businesses - "Square's partner platform connects Square sellers with new applications that complement Square's register service. Continuing to build upon Square's powerful, affordable and accessible business solutions, the QuickBooks Online, Xero and Stitch Labs integrations are designed to simplify operations for businesses throughout Canada."
  • Digital River Expands Its Brazil Payments Offerings for Online Merchants - “Brazil is the fourth largest payment card market in the world,” said Souheil Badran, senior vice president and general manager of Digital River World Payments. “A number of our clients view Brazil as a strategic growth opportunity. We can help them navigate this highly complex market for cross border commerce, improve their authorization and conversion rates, and control overhead costs and risks associated with managing their own local entities.”
  • TSYS Enables Secure Commerce with Tokenization - "The proliferation of “card-on-file” models, both remote and proximity, has created an industry need to produce and use tokens including: card-on-file at a merchant’s cart, digital wallets, QR and Bar codes, NFC and chip."
  • CFPB Warns Consumers About Bitcoin - "“Virtual currencies may have potential benefits, but consumers need to be cautious and they need to be asking the right questions,” said CFPB Director Richard Cordray. “Virtual currencies are not backed by any government or central bank, and at this point consumers are stepping into the Wild West when they engage in the market.”
  • Fiserv White Paper Outlines the Unique Mobile Banking Needs of Business Customers - “With more businesses using digital banking services, there is a focus on providing specialized mobile banking capabilities which cater to the needs of this attractive market segment,” said Teri Carstensen, division president, Bank Solutions, Fiserv.
  • American Express unveils The Centurion(SM) Lounge in New York LaGuardia Airport - “New York might be the city that never sleeps, but our Card Members can now find an oasis at LaGuardia Airport to relax and refresh when they’re traveling into and out of the city,” said Lisa Durocher, Senior Vice President, Consumer Charge Cards & Benefits at American Express. “As our third Centurion Lounge, opening the LaGuardia Airport location marks a huge milestone for us, and brings us closer to our goal of creating a better airport experience for our Card Members.”
  • Commerce Bank Introduces the USA Triathlon Visa® Rewards Credit Card - “We are excited to enter into a relationship with USA Triathlon and to offer their members a customized credit card as way to show their support for the organization and enthusiasm for one of the fastest growing sports in the U.S. Olympic movement,” said Chad Doza, Senior Vice President of Consumer Credit Card.

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

April 07, 2014

Headline News from PaymentsNews.com - April 7, 2014

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

March 13, 2014

Headline News from PaymentsNews.com - March 13, 2014

On the Web:

  • Introducing Xapo - Xapo Blog - "At Xapo, we understand that Bitcoin’s ultimate success will be based on trust – both in the currency itself and in the industry’s security and service providers."
  • Building the Fort Knox for Bitcoin - wall St. Journal - "A Silicon Valley startup called Xapo is among a handful of young companies trying to become the Fort Knox of bitcoin, building secret bank vaults deep in the earth that would safely store millions of dollars worth of bitcoin code on computer drives."
  • New York BitLicense Order - Virtual Currency Report - "While the latest NYDFS statements leave a lot of unanswered questions and do not provide a clear path forward for virtual currency firms, it appears on balance to be a step forward for those virtual currency exchanges seeking licensure in New York."
  • Missed Alarms and 40 Million Stolen Credit Card Numbers: How Target Blew It - Bloomberg BusinessWeek - "The biggest retail hack in U.S. history wasn’t particularly inventive, nor did it appear destined for success."
  • What is Apple’s commerce and payments strategy? - Mobile Commerce Daily (Tim Dunn) - "The stars are aligning for Apple to make a dynamic move into the commerce and payments space."
  • Bank of England: Digital Currencies are Similar to Commodities - CoinDesk - "“Digital currencies are not at present widely used as a medium of exchange. Instead, their popularity largely derives from their ability to serve as an asset class..."
  • Flypay Raises £1M To Make Settling Your Restaurant Bill “Waiter-Free” - TechCrunch - "Aiming to get the time it takes to ask for and settle a restaurant bill down from an average of ten minutes to closer to a minute, you simply scan an on-table QR code/NFC tag to first recall the bill."
  • How Real Is Loyalty and Rewards Fraud? - "The threat of fraud to rewards programs is real, and financial institutions and retailers must be cautioned about relaxing their guards just because a surge in fraud has yet to occur."

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

March 12, 2014

Headline News from PaymentsNews.com - March 12, 2014

On Twitter:

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

February 04, 2014

Headline News from PaymentsNews.com - February 4, 2014

The second edition of our book "Payments Systems in the U.S." has just been published. It's available in print from Amazon.com and in an ebook version for your iPad.

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

February 03, 2014

Headline News from PaymentsNews.com - February 3, 2014

The second edition of our book "Payments Systems in the U.S." has just been published. It's available in print from Amazon.com and in an ebook version for your iPad.

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

January 16, 2014

Headline News from PaymentsNews.com - January 16, 2014

We’d love to have you participate in our 2014 PaymentsNews Reader Survey! Please take a moment to participate - it’s quick and easy to complete: https://www.surveymonkey.com/s/393MCB3

Next Glenbrook Payments Boot Camps: Feb 4-5 in Palo Alto, CA; March 18-19 in New York City. Alternatively, you can request a private Payments Workshop held on-site at your location.

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

January 03, 2014

Headline News from PaymentsNews.com - January 3, 2014

Next Glenbrook Payments Boot Camps: Feb 4-5 in Palo Alto, CA; March 18-19 in New York City. Alternatively, you can request a private Payments Workshop held on-site at your location.

On the Web:

  • Bitcoin is messy. Let’s fix it. - Startup Management - "A Bitcoin-supported money system is going to happen. There is no question about it. It is unstoppable."
  • Bitcoin Is an Expensive Way to Pay for Stuff - Bloomberg Opinion (Matt Levine) - "The claim that Bitcoin could one day provide a low-transaction-cost alternative (or currently provides an anonymous or accessible alternative) to the U.S. dollar payments system is separate from the claim that Bitcoin is currently a cheaper, or free, payments alternative."
  • India May Relax E-Commerce Rules, Opening The Door Further For Amazon And Other Global Giants - TechCrunch - "As India prepares to reconsider the ban on foreign investments in the country’s e-commerce sector, two of the world’s biggest e-commerce companies — Amazon and eBay — are anxiously hoping to conquer what they refer to as their last frontier."
  • Target card breach and what to do: Our view - USA Today Editorial - "The best thing that could happen is if this latest megabreach forced the industry and Congress to fix some of the system's most troubling vulnerabilities."
  • Bitcoin Is Good - Re/code (Fred Ehrsam) - "Approaching bitcoin as a currency or store of value is focusing on a single and secondary application of the bitcoin network (analogous to analyzing a single feature built on top of the Internet, like email)."
  • Who Needs Bitcoin? Venezuela Has Its 'Sucre' - Wall St. Journal - "Where the pseudonymous Mr. Nakamoto is credited with creating bitcoin, the late Venezuelan president created the sucre, a virtual currency designed to dethrone the dollar as the main trading currency used with his country's regional trading partners: Ecuador, Cuba, Bolivia and Nicaragua."
  • U.S. Bank updates app with photo balance transfer, keyword search - Mobile Commerce Daily - "Improving and expanding photo banking and other mobile banking options are among strategies U.S. Bank is leveraging to give it a competitive advantage with younger consumer, who are increasingly banking online."

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

January 02, 2014

Headline News from PaymentsNews.com - January 2, 2014

Next Glenbrook Payments Boot Camps: Feb 4-5 in Palo Alto, CA; March 18-19 in New York City. Alternatively, you can request a private Payments Workshop held on-site at your location.

On the Web:

On the Wires:

Updates from Glenbrook:

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here: gotnews@paymentsnews.com!

December 16, 2013

Perkins Coie Launches The Virtual Currency Report

Perkins Coie has announced the launch of The Virtual Currency Report, a new blog focused on the law and regulation of Bitcoin and other digital currencies. This new blog provides news and analysis on legal developments relating to Bitcoin and other decentralized digital currencies, math-based currencies and decentralized ledgers.

The Virtual Currency Report team, led by Dax Hansen, consists of attorneys with diverse backgrounds who form Perkins Coie’s Decentralized Virtual Currencies industry practice group. Team members include attorneys: Eric Barber, Jean-Jacques (J) Cabou, Joseph Cutler, Jacob Farber, Judy Jennison, Hillary Levun, Keith Miller, and Lowell Ness.

Perkins Coie’s Decentralized Virtual Currencies industry practice provides regulatory investigations and compliance counseling, litigation support, consumer protection counseling, and business transaction assistance, regarding a range of Bitcoin and digital currency systems, services and products. The firm’s clients include virtual currency exchanges, payment processors, investors and industry associations. Firm attorneys counsel virtual currency clients with respect to various regulatory issues, including compliance with the Bank Secrecy Act, state money transmitter laws and securities and commodities laws and regulations.

November 18, 2013

Beyond Silk Road: Potential Risks, Threats, and Promises of Virtual Currencies

The US Senate Committee on Homeland Security and Governmental Affairs is holding a hearing this afternoon in Washington titled "Beyond Silk Road: Potential Risks, Threats, and Promises of Virtual Currencies".

Witnesses testifying include representatives from regulatory agencies, the Secret Service and the Department of Justice, public interest groups, the Bitcoin Foundation and others. Copies of their prepared testimony should be posted on the web site before the hearing - which begins at 3 PM Eastern this afternoon.

Tomorrow, the US Senate House Banking, Housing and Urban Affairs committee is holding a hearing on "The Present and Future Impact of Virtual Currency." Witnesses at tomorrow's hearing include: Ms. Jennifer Shasky Calvery, Director, Financial Crimes Enforcement Network; and Mr. David Cotney, Commissioner of Banks, Massachusetts Division of Banks, Mr. Anthony Gallippi, Co-founder and CEO, BitPay, Incorporated; Mr. Chris Larsen, Founder and CEO, Ripple Labs; Ms. Sarah Jane Hughes, University Scholar and Fellow in Commercial Law, Indiana University Maurer School of Law; and Mr. Paul Smocer, BITS President, Financial Services Roundtable.

November 05, 2013

Headline News from PaymentsNews.com - November 5, 2013

On the web:

On the wires:

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.
  • Glenbrook's Jacqueline Chilton will be speaking social media and payments at the W.net Northern California LINC Networking event being held November 14 at Google.
  • Join our mailing list for updates about Glenbrook events. Follow us on Twitter: @paymentsnews and @paymentsviews

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!
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