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News Aggregation – $25 M Startup, mWallets, and Credit cards Payment News

MEDICI

At Let’s Talk Payments we want you to get all the important Payment News and Analysis, right in your inbox. So we are adding another channel called News Aggregation wherein we will bring to you important news from other sources as well apart from LTP. So you don’t have to put in effort to search everywhere, just read on Let’s Talk Payments without missing anything important.

1. Gawker - $25 Million Mystery Startup Hits Layoffs Before It Even Launches

Fortune's Dan Primack reports that Clinkle, the stealth mobile startup company that raised $25 million in venture capital without really explaining what it does, has "issued pink slips to 16 of its 60-person staff, or just over 25%." The layoffs have not been in engineering, but rather the business side of operations.

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2. GSMA - Mobile - Enabling Technologiess

Individuals increasingly interact with mobile commerce services from many different providers and in many different ways. To reduce this complexity, consumers need a straightforward and consistent approach to organising digital vouchers, loyalty programmes, payment cards, tickets and other items. A mobile wallet can meet that need. Essentially a digital container running on a mobile device, a mobile wallet is designed to aggregate and manage mobile commerce services, supporting payment cards, tickets, loyalty cards, receipts, vouchers and other items that might be found in a conventional wallet (or purse).

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3. Mediapost - Mobile - Enabling Technologies Payments & Replicating the Credit Card Experience

While various forms of mobile payments continue to launch and evolve around the world, there’s still no clear single solution for the masses. The payment system from Isis, owned by the major wireless carriers, requires a new SIM card to be added to a compatible Android phone for it to work. Then you have to find an Isis-compatible point of sale terminal, which can be challenging in itself, as I’ve written about here (The Continuing Search to Use Isis Mobile Payments).

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4. Techgig - Bitcoin - Cryptocurrency - Blockchain gang gets 67 new e-currencies; value grows to $13 billion

As regulatory glare intensifies on bitcoins due to possible money laundering, cyber security and other risks, over five dozen other virtual currencies have come under the scanner and include a desi version by name of 'laxmicoin'.

The total value of these 67 digital currencies in circulation over internet has reached nearly $13 billion (over Rs 80,000 crore), out of which bitcoin alone accounts for over $9 billion, according to market estimates.

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5. Moneylife - SBI, Axis, ICICI and UCO Bank are the only ones charging for IMPS transactions

Would you like to save on mobile banking transaction charges? Then, you need to know that only four banks out of 59 banks charge customers for using the interbank mobile payment system and even NPCI charges just 25 paise per IMPS transaction from the remitter bank

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6.Finance.yahoo - Future credit cards could thwart Target hackers

The theft of 40 million credit and debit card numbers from Target (TGT) in the middle of the holiday shopping season is renewing pressure on the credit card industry to improve its defenses against fraud. Related Stories Why the U.S. Leaves Its Credit-Card System Vulnerable to Fraud BusinessWeek Why credit hacks will keep happening CNNMoney.com Weak US card security made Target a juicy target Associated Press Target payment card data theft highlights lagging U.S. security Reuters Target: PINs not part of stolen credit card info USA TODAY Credit card companies such as Visa (V), Mastercard (MA) and American Express (AXP) could do more. Most cards in Europe, for example, incorporate tiny computer chips and require a PIN code to secure transactions and virtually eliminate counterfeiting.

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MEDICI Team

MEDICI

MEDICI Team is a group of content writers, bloggers, journalists, researchers, and editors from the MEDICI team who collaborate to create FinTech insights.

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