News Aggregation – Need to Secure Payments, Overstock's Bitcoin Stunner, China goes NFC, Tie ups, Payment News

News Aggregation – Important news from other sources apart from LTP. So you don’t have to put in effort to search elsewhere, just read on Let’s Talk Payments without missing anything good.

1. Eweek - Expanding Target Breach Shows Need for Highly Secure Payment Systems

It's clear from the expanding scale of the Target data breach that highly secure systems are needed as quickly as possible for payment methods of all types. The longer the revelations continue about the data breach at Target, the worse the news gets. The news was bad enough when the word was that hackers had managed to extract the magnetic stripe data from Target's point-of-sale (POS) terminals, allowing them to sell credit card information and even make counterfeit credit cards. But since then, the number of affected customers has vastly grown

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2. Zerohedge - Overstock's First Day Of Bitcoin: $130,000 Sales, 840 Transactions, CEO 'Stunned'

Upon the conclusion of the Senate hearing on Bitcoin this past November, I tweeted that I thought we had entered Phase 2 of the Bitcoin story. A month later, following news that Andreessen Horowitz had led an venture capital investment of $25 million in Coinbase, I wrote: As I tweeted at the time, I think Bitcoin began phase two of its growth and adoption cycle upon the conclusion of the Senate hearings last month (I suggest reading: My Thoughts on the Bitcoin Hearing). I think phase two will be primarily characterized by two things. More mainstream adoption and ease of use, as well as increasingly large investments by venture capitalists. In the past 24 hours, we have seen evidence of both.

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3. Global times - Deal paves the way for Chinese NFC dominance.

Telecommunications operator China Mobile and payment service provider UnionPay recently came to an agreement on standards for payment systems based on near-field communication (NFC) technology embedded in mobile phones. Disagreements between China's largest mobile service provider and the Chinese mainland's only bank card organization have been holding back advances in NFC payment technology, which allows customers to pay for goods and services by holding their phones near payment terminals.

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4. Businesswire - iMobile3’s PassMarket and Ingenico Create a Mobile Engagement Hub for Retailers.

Aiming to change the way merchants engage with consumers, iMobile3 has partnered with Ingenico, a world leader in payment services, to deliver a comprehensive platform for frictionless mobile payments at the point of sale using Bluetooth LE (BLE) devices, or beacons. The pilot companies are enthusiastic about the results iMobile3 will be presenting the second-generation of its popular PassMarket™ solution in the Ingenico booth (#3339) during the National Retail Federation (NRF) Big Show, January 12–15, 2014 in New York City. PassMarket is the industry’s leading cloud-based, multi-wallet platform to support Apple Passbook and Google Wallet.

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