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"This raises the question of whether central banks should themselves make use of such technology to issue digital currencies." -Bank of England #cryptocurrency #Bitcoin #payments #currency
The Bank of England will research whether issuing a digital currency such as Bitcoin would help it achieve its monetary policy, financial stability and regulatory goals.
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Softcard is now encouraging Android users to download Google Wallet, though Google's app cannot import payment credentials from the telco-backed mobile wallet. #NFC #mobilewallet #payments #Google
Mere days after disclosing that Google Inc. purchased Softcard's technology and intellectual property, the telcos' mobile wallet venture began publically disclosing its plans to shut down.
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OPINION: The LoopPay app itself can be password-protected, but the ability to skim the magnetic stripe remains. LoopPay claims that they will remove some of the expiry date information to combat online fraud, but this is not data that is difficult to guess using a brute force attack. #magstripe #mobile #payments #security #fraud
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"People often don't have their wallets with them while they are flying, so they have to rummage through their carry on to find their wallet and cards or cash." -Blair Koch, JetBlue #inflight #mobile #payments #ApplePay
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The difference in the rates of individual states can be affected by population, available technology, or a significant base of customers for a retailer that may have suffered a recent major breach. -Noam Inbar, Forter #payments #ecommerce #fraud
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"As a digital security company, people try to hack Gemalto on a regular basis. These intrusion attempts are more or less sophisticated and we are used to dealing with them. Most are not successful while only a few penetrate the outer level of our highly secure network architecture." -Gemalto #NSA #GCHQ #hack #mobile #security
Gemalto reassured investors this morning that the alleged attacks by U.S. and U.K. government agents only breached the company's office network and could not have led to theft of encryption keys, which are considered an important part of digital payments security.
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But there is a problem with the narrative of a “disruptive” fintech startup: It's not true. "Instead, they are very good at taking the idea from somewhere else and scaling it. What you see is them deploying some capital and giving [fintech startups] access to the problems that they're trying to solve with technology." -Nigel Verdon, Orange Growth Capital #fintech #remittance #payments #startups #banks #disruption
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However, the most valuable thing Staples gets from its deployment of Apple Pay — that Starbucks can't possibly get from its partial rollout — is a full spectrum of Apple user data. #Starbucks #ApplePay #mobile #payments
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Geoswift's biggest competitor still remains the black market remittance providers, which is why the Chinese government is loosening up restrictions. The Chinese government "wants a clean and legal channel for remittance." -Raymond Qu, Geoswift #remittance #payments #China
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The API will allow merchants to build in-store and in-app payments for third party applications and will support Host Card Emulation, a more flexible carrier-agnostic version of NFC. #Google #payments #API
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The difference in the rates of individual states can be affected by population, available technology, or a significant base of customers for a retailer that may have suffered a recent major breach. -Noam Inbar, Forter #payments #ecommerce #fraud
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Amex, whose business was built on charge cards that didn’t allow consumers to carry balances, is seeking to recover lost revenue after ending its co-brand credit-card agreement with Costco Wholesale Corp. #interestrates #creditcards
American Express Co., the lender that lost one of its biggest retailer partnerships and suffered a defeat in an antitrust lawsuit this month, is raising interest rates on a swath of credit cards for the first time in more than five years.
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Payments news, trends and analysis
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PaymentsSource.com provides subscribers with one central resource for all the payments news, trends and analysis they need to navigate the industry.

Written for payments professionals who need to stay on top of the news and trends shaping the payments landscape, PaymentsSource features exclusive content, industry profiles and data tools.