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Banking's SWIFT says ready to block Iran transactions - Yahoo! News
BRUSSELS/WASHINGTON (Reuters) - Belgium-based SWIFT , which provides banks with a system for moving funds around the world, bowed to international pressure on Friday and said it was ready to block Iranian banks from using its network to transfer money.
MasterCard Product & Services - Documentation
The update of the PayPass M/Chip Acquirer Implementation Requirements is part of the restructuring of the PayPass M/Chip customer documentation to assist vendors, processors and banks to successfully implement MasterCard PayPass products.
The recent news about Starbucks accepting mobile payments got me thinking about how merchants are starting to personalize the retail payment experience just like so many online merchants have done for the online shopping experience. Square is doing this for P2P in many ways: if you listen to Jack Dorsey speak on Charlie Rose, he talks about how " It's really complex to Make Something Simple. " What do you think the average order value is for a Starbucks Mobile user? I'd guess they probably found that it was higher than any other payment method checkout!
Payments Experience - Filed under 'personalization'
The Woman Who Launched Google Wallet Has A New Job
Stephanie Tilenius, who oversaw Google's mobile phone payment system, Wallet, has a new job as the head of international commerce for the company. AllThingsD says that Tilenius will still be reporting to the same boss, Jeff Huber -- he is one of Google's seven product heads, leading commerce products -- so it looks like a lateral move rather than a demotion. But Google Wallet hasn't really taken off since Tilenius introduced it at an event last May in New York. The idea is to let users pay at retail stores by tapping their phones against a special receiver.Card.io, the toolkit for mobile app developers which lets users pay for items by holding their credit card up to the phone’s camera, is today launching a consumer-facing app. It’s something like Square, but without the dongle. It’s also not aimed at merchants, as Square is. Instead, the new Card.io applications, available for both iPhone and Android, are meant for person-to-person payments. Splitting lunch, borrowing money, paying for gas – that sort of thing.
No More Swiping: Card.io Launches New Consumer App, Developer Tools Which “See” Your Credit Card | TechCrunch
Digital Payments Innovator Jumio Raises $25.5 Million | TechCrunch
Kicking off the new year with a fresh wad of cash: according to an SEC filing, mobile and online payments startup Jumio has raised $25.5 million in funding on top of the $6.5 million it raised from Facebook co-founder Eduardo Saverin – and others – back in March 2011. Jumio confirmed the financing round but declined to provide more details (which investors participated and what they plan to use the additional capital for) at this time. The startup’s twist on helping e-merchants process card payments digitally is to leverage webcams (and smartphone cameras) to read credit cards rather than making people enter their details or swiping their cards. Its solution, called Netswipe, in other words turns phone cameras and webcams into credit card readers. Jumio was co-founded by Daniel Mattes, who sold his latest company, Jajah, to Telefonica for $207 million. Mattes is called the “Bill Gates of the Alps” in some parts.At his CES keynote yesterday evening, eBay CEO (and new interim PayPal CEO) John Donahoe revealed a number of new mobile payments forecasts for both eBay and PayPal. As we heard from PayPal VP David Marcus a few days ago, PayPal surpassed its expectation of $3.5 billion in mobile payments in 2011, reaching $4 billion for the year. Donahoe said in his keynote that eBay reached $5 billion in mobile GMV (gross merchandise volume) in 2011, doubling 2010′s GMV. He also projected yesterday that eBay would reach $8 billion in mobile GMV in 2012, and PayPal will reach $7 billion in transactions in 2012. eBay Mobile currently has more than 65 million downloads of eBay’s mobile applications across platforms. And more than 890,000 new eBay shoppers made their first eBay purchase through the company’s mobile apps in 2011, a 113% increase year over year. Donahoe also announced a new strategic partner in eBay’s RedLaser barcode scanning app—Best Buy.
eBay Forecasts $8B In Mobile Commerce Volume In 2012; PayPal Will Reach $7B | TechCrunch
Photo: Jim Merithew/Wired.com A small celebrity-friendly restaurant in Utah is finally doing what many merchants have only dreamed of doing for a long time — taking on a part of the payment card industry’s powerful but flawed system for securing card data by fining merchants for failing to secure their data. Stephen and Theodora “Cissy” McComb, owners of Cisero’s Ristorante and Nightclub in Park City, Utah, have filed a lawsuit against U.S. Bank claiming that the financial institution, which used to process the restaurant’s credit and debit card transactions, wrongfully seized money from the McCombs’ merchant bank account. U.S.
Rare Legal Fight Takes On Credit Card Company Security Standards and Fines | Threat Level | Wired.com
The summer news was hot: Visa announced initiatives to hasten EMV migration in the United States. Interestingly, while the U.S has been one of the last EMV holdouts in the Western world, Visa’s announcement seems to have been driven as much by the need for a suitable mobile payments infrastructure as by security concerns. The costs associated with EMV migration will, to some extent, be offset by NFC-based mobile communications opportunities, which will require the same EMV-compatible infrastructure. Though the U.S is unique in its card carrying population, size and retail payments players, there are some lessons learned in Canada, Europe and other countries that can be useful to ISOs and merchants in the U.S. Visa will require U.S. acquirer processors and sub-processor service providers to support merchant acceptance of chip transactions by April 1, 2013.
EMV on the way: What to expect in the U.S.
As we’ve reported in the past, PayPal announced an in-store payments technology both via mobile and point of sale systems that is currently being tested on a ‘friends and family’ basis in a national retailer. That retailer is Home Depot, we’ve learned from PayPal. PayPal said of the Home Depot announcement: We frequently run trials with our retail partners. In this case, PayPal and The Home Depot are engaged in a limited pilot program for new POS technologies. The pilot is currently being run in five stores and involves a small number of PayPal employees. Gil Luria of Investment house Wedbush Securities also put out a research note today that confirmed that the first retailer is the Home Depot.
PayPal’s First In-Store, Brick And Mortar Mobile Payments Integration Is At Home Depot | TechCrunch
Exclusive: We’ve received more details on how PayPal will be scaling its in-store payments technology at major retailers. As we reported last week, PayPal is currently testing the mobile payments and point-of-sale integrations at Home Depot on a friends and family basis, in five stores. Today, we’ve learned that PayPal is partnering with AJB Software, a company that provides point-of-sale software to large brick and mortar retailers, to integrate the online payments giant’s technology into their offerings. AJB basically provides a communications gateway that connects a retailer’s point-of-sale system with financial institutions. Over 140 large-scale retailers including Kohl’s and BestBuy use AJB’s software to manage payments. In a nutshell, the partnership allows an easy way for big box retailers to offer consumers a way to pay via PayPal in their stores.