Banking as Plumbing: Dumb Pipes or Smart Infrastructure – Part 2/2

In Part 1 (Read here) of this series, we saw how banks provide the necessary but barely sufficient infrastructure for moving money, especially when newer methods and experiences are involved. The prepaid industry has benefitted from this “long tail” of financial services innovation primarily because there have been no other practical options to tap into

Google Wallet gets Brierley Loyalty Boost

Brierley, a leading loyalty and CRM services technology company, has announced integration with Google Wallet. Google Wallet is a digital wallet that allows users to conduct fast and convenient in-store shopping online and on mobile devices. This capability to leverage loyalty programs from the clients will be added to the complete suite of offerings to

ID TECH’s Contactless Readers to Support Apple Pay

ID TECH announced yesterday that its contact-less readers will support Apple Pay. ID TECH is a leading manufacturer of POS devices, digital signage and secure payment solutions. The company’s product portfolio includes mobile readers, swipe readers & writers, bar-code scanners, POS peripherals, contact-less readers, insert readers and component accessories. Founded in 1991, ID TECH currently

Carl Icahn was Right, ebay and PayPal will Split

Source: TNW blog As reported by TNW and WSJ, E Bay has announced that it’s to spin out PayPal as a separate publicly traded company in 2015. As per TNW, The e-commerce giant acquired online payment provider PayPal for $1.5 billion back in 2002, but many have argued that PayPal is too big and significant

Banking as Plumbing: Dumb Pipes or Smart Infrastructure – Part 1/2

There has been long-standing paranoia in telecom circles of mobile operators becoming ‘dumb pipes’. Most mobile network operators (MNOs) around the world have been trying to fight the “over-the-top” forces that threaten to erode their margins, and make them mere “carriers” of information. Their contention is that their massive investments in spectrum and other operational

Circle Comes Out of Invite-only Phase, Opens for Global Audience

“No more waiting. We’re happy to announce that we’ve opened our doors to a global audience!”, tweeted Circle Inc. on September 29th. Circle is a Bitcoin consumer finance company focused on transforming the world economy with secure, simple, and less costly technology for storing and using money. The company had been working with select consumers

The Ten Key People Apple Hired for Apple Pay and iWatch

Apple has been working hard on every aspect of Apple Pay to make it successful. One important focus for the company is hiring the right set of executives and experienced  management to run the grand show. Apple Pay will be available in the U.S. beginning in October and will be compatible with Visa, MasterCard &

What are the most pressing issues (and biggest opportunities) in payments and commerce innovation?

LTP has covered a wide spectrum of topics in payments and commerce globally for more than a year. We have covered everything from the ever-popular mobile wallets to financial inclusion in emerging economies, and everything in between. We have covered the most anticipated happenings in Cupertino to the least visible initiatives in Russia. And we

Proximity Marketing got a shot in the arm

In what has been one of the major breakthroughs in location based shopping space, SK Telecom announced recently that it will acquire Shopkick Inc. SK Telecom is a wireless telecommunications service provider in South Korea. We believe this move is the company’s effort to capture a significant share of fast growing Location based shopping and

Nubank launches credit card, announces fundraising

Nubank is a Brazilian start-up focused on financial services. The company announced its arrival on the world stage with two major developments: fundraising of $ 14.3 Mn and launch of a platinum credit card that can be managed using a mobile app. The company said that the funding round was led by Sequoia Capital, Kaszek