Report claims Walmart will never accept Apple Pay because it perpetuates high credit card fees

Walmart Apple Pay

Walmart is one of several high-profile retailers that belong to MCX, a consortium of retailers that have partnered together to create their own mobile payments service called CurrentC. Due to this commitment, the big-box retailer has opted against supporting Apple Pay in its stores. A new report offers a big reason why: high credit card transaction fees.

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Apple Pay already works abroad on supported NFC terminals w/ US-based cards

Following yesterday’s launch of Apple Pay through participating card issuers, banks and retailers in the US, some users have discovered that the payment service is also already being accepted through some retailers abroad. 9to5Mac readers report using Apple Pay loaded with a US-based credit card at retailers in Australia and Canada… Read more

As Apple Pay launches, Eddy Cue says “a lot of work to do,” predicts slow retail take-up

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On the day that Apple Pay goes live, SVP Eddy Cue has told the WSJ that the company “has a lot of work to do” on the service, suggesting that initial take-up may be slow – with in-app purchases making up the largest share of transactions in the short-term.

We’re trying to do something that I think is a game changer and it requires a lot of people to play together. There’s a lot to do here and we have a lot of work to do, but it should be huge.

Although the list of retailers who have committed to Apple Pay looks impressive, it is far from comprehensive, with some big names missing – including the largest retailer in the US, Wal-Mart …  Read more

Amazon takes on Square and PayPal Here with $10 iPhone/iPad cardreader & lower fees

Small businesses looking to take occasional card payments without paying monthly fees now have a third option as Amazon has launched Local Register to compete with Square and PayPal Here – as we predicted last month. The $10 card-reader is compatible with any iPhone from the iPhone 4 onward, as well as any iPad or iPad mini.

Amazon is undercutting both competitor services with a flat fee of 2.5 percent per transaction (vs 2.7 percent for PayPal Here and 2.75 percent for Square). Not enough? Amazon is sweetening the deal with a special introductory rate of 1.75 percent until the end of 2015, and will also credit the $10 cost of the cardreader in full against transaction fees …  Read more

Pad & Quill announce new iPhone 5/s Traveller soft leather case, inspired by old coin pouch

We’re huge fans of Pad & Quill so we’re excited to let you know that today the St. Paul, MN-based company announced some new wallets/cases for iPhone 5/s. Most notable is the $70 Traveller case [WANT] which will hold your iPhone and multiple cards in a pouch around back with a slider that helps eject your wares. We’ve noted before how much we like Pad and Quill’s rugged construction and genuine materials.

My dad had an old coin pouch that he carried everywhere with him and I have very good memories of that. We made this case inspired by his old coin pouch. It’s a tribute to my Dad and to the Craftsman. This is a VERY intricately hand assembled iPhone cover that includes a generous hidden back pocket for multiple Credit cards and ID. This is soft full grain luxury and rugged protection.

The Traveller comes in both Whiskey Brown and Onyx Black.

To accompany this new case, P&Q also just launched 3 new Pad & Quill Wallets made of the same luxury materials… Read more

Starbucks signs up for iPhone-based Square credit card/debit payments for nearly 7,000 stores

In an announcement on Square’s website today, CEO Jack Dorsey announced Starbucks signed up to accept payments from customers through the Pay with Square iOS app via Square’s iPhone credit card readers and merchant app. Dorsey also confirmed functionality would roll out to nearly 7,000 Starbucks locations soon, while Starbucks locations will be added to the Square Directory. The Square Directory will also soon be accessible from a number of Starbucks platforms including the Starbucks Digital Network and mobile payment app. Starbucks announced in its own press release that it would invest $25 million in Square, while Starbucks’ chairman, president, and CEO, Howard Schultz, will join Square’s board of directors. On top of credit cards, Starbucks will use Square to handle debit payments, which the company said would reduce overall payment processing costs.

Beginning this fall, in addition to the existing iPhone® and Android™ Starbucks mobile payment applications, Starbucks customers will be able to use Pay with Square to pay for their purchases at participating company operated Starbucks locations in the U.S. Customers simply need to download the Pay with Square application and set up an account on their iPhone® or Android™ device.

More than two-thirds of the 27 million small businesses in the U.S. currently do not accept credit or debit cards, in large part because of the expensive interchange fees associated with payment processing, cumbersome application process and required credit checks. Square enables merchants of any size – from sole proprietors to national retailers – to accept credit and debit cards.

Square rebrands Card Case as ‘Pay with Square’ in monster update following Paypal’s announcement

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Square updated its “Card Case” app with a new design, new name, and a shiny new icon (literally) less than a week after PayPal announced its triangular Square competitor.

Unlike the previous version of the app, which used a credit card metaphor for each store you had an account with, version 2.0, now called “Pay with Square,” uses a list of businesses nearby that accept Square payments and allow you to quickly open a tab at any of them. You can also search a map for nearby Square-compatible businesses and add your favorites to a list for quick and easy access on future visits.

What’s new in Version 2.0, below:

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Gamers beware: Steam’s database hacked, including encrypted credit card information and passwords

Popular game platform Steam, owned by Valve, has been hacked (via PC Gamer). Hackers were able to get into a Steam database, which included encrypted credit card information and passwords of many of its users. Steam isn’t sure at this point if the encryption of the credit card numbers or passwords have been obtained, but warns users to be on the look out for malicious activity. Steam’s Gabe Newell said in a statement to users:

Our Steam forums were defaced on the evening of Sunday, November 6. We began investigating and found that the intrusion goes beyond the Steam forums.

We learned that intruders obtained access to a Steam database in addition to the forums. This database contained information including user names, hashed and salted passwords, game purchases, email addresses, billing addresses and encrypted credit card information. We do not have evidence that encrypted credit card numbers or personally identifying information were taken by the intruders, or that the protection on credit card numbers or passwords was cracked.”

Steam is currently keeping their forums closed down while they investigate the situation. The Steam platform hasn’t been knocked down, however. Gabe’s full statement after the break:

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Square Card Case update brings hands-free payments with iOS 5 geofencing

Square just pushed out quite an interesting update to their Square Card Case that we told you about back in August when it was first released. Taking full advantage of iOS 5’s geofencing capabilities, the updated app can now establish a tab at your favorite retailers when within a virtual boundary of 100 meters, essentially allowing for a frictionless, hands-free payment experience.

Imagine walking by your favorite retail shop and a tab with your name is automatically opened on the merchant’s Square app for iPad, just in case you happen to stop in and make a purchase. If you do stop in to make a purchase, the merchant can authorize the payment using a credit card or debit card already linked to the Card Case app on your iPhone. If you don’t stop at the shop, the tab will automatically be closed once outside of the 100 meter range.

This obviously allows you to bypass the need of removing your phone from your pocket and interacting with the Square card case app to establish a connection with a merchant. You’ll only have to confirm your name, while merchants will use the same authorization methods as before, confirming the user with an image of their face within the Square iPad app. You’ll of course have to authorize which retailers you wants tabs to automatically be opened for first.

Square director of product Megan Quinn had this to say about the new update in an interview (via Wired):
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