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April 2, 2012
10:19 • 1 year ago

  • cause Global Payments, a credit card processor, revealed Friday that it had been the victim of  a data breach — initially reported as 10 million cards, though the company now says it was closer to 1.5 million cards. The company says no personal info beyond the numbers was compromised.
  • effect As a result of the data breach, Visa dropped the company from its registry of card-processing providers that meet its security standards. Global Payments says it will continue to process Visa cards, but falling off the list could make businesses less likely to want to deal with them. source

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December 6, 2011
11:23 • 1 year ago
Verizon blocks Google Wallet on “security” concerns
Read: Google’s product is competing with our product. Google Wallet has drawn a lot of attention in recent months for its end-to-end reinvention of the paying experience — one that, if it takes off, could make carrying around credit cards a thing of the past. However… the first phone on Verizon’s network that could support the technology behind Google Wallet, the Galaxy Nexus, has the software disabled. The company says they’ve blocked it in an effort to provide “the best security and user experience.” However… Verizon is working with AT&T and T-Mobile on a competing service, Isis, which has yet to launch. Perhaps that’s it? Yeah, we think so. source
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Read: Google’s product is competing with our product. Google Wallet has drawn a lot of attention in recent months for its end-to-end reinvention of the paying experience — one that, if it takes off, could make carrying around credit cards a thing of the past. However… the first phone on Verizon’s network that could support the technology behind Google Wallet, the Galaxy Nexus, has the software disabled. The company says they’ve blocked it in an effort to provide “the best security and user experience.” However… Verizon is working with AT&T and T-Mobile on a competing service, Isis, which has yet to launch. Perhaps that’s it? Yeah, we think so. source

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September 19, 2011
20:03 • 1 year ago

  • good Google has both Visa and MasterCard on board for its next-generation digital payments system, meaning they have a built-in infrastructure.
  • bad While that infrastructure — in the hundreds of thousands of retail outlets — is pretty big, Visa and MasterCard reach tens of millions of retail outlets.
  • worse In the short-term, only one network — Sprint — sells a device that’s actually compatible with Google Wallet. Own a Sprint Nexus S 4G? You’re in luck. source

June 17, 2011
01:19 • 2 years ago
December 7, 2010
13:33 • 2 years ago

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