Here are our top five tweets from the week that was. Keep tweeting, and we may feature you next Friday.
@rshevlin: The mobile payments space is like the bar scene in Star Wars” – Chris Mahl, LevelUp
This was our favorite line from LevelUp’s Analyst Day and a pretty apt comparison by Mahl, who serves as the startup’s “EVP & Chief Alchemist.” LevelUp stressed several times during the meeting that it’s “agnostic,” meaning it doesn’t care what sort of technology you use, what card company you’re paying with or what the technology label says so long as LevelUp is facilitating the payment. LevelUp also announced $21 million in funding, an extended partnership with Merchant Warehouse and some interesting new campaigns at Analyst Day, all of which you can read about here. Clearly, we feel the force is strong with this one.
@EyeLock_1: @pymnts Banks are toast unless they move soon – first payments then deposits. Couple of possibilities to make a move – will they?
We think Jeff’s sentiments echo any voices in the industry who see Passbook encroaching further and further on the mobile wallet space. By adding additional payments functionality to Passbook this week, Apple should be making the likes of Google Wallet, PayPal, Isis and others pretty nervous.
@kkvanderleest: It’s about time they launched #nfc @pymnts . . . RT @PayWithIsis: It’s official: We’re launching in Austin and SLC on Oct. 22
Speaking of Isis … it’s that time of year again! No, not the holidays – time for Isis to announce it’s going to launch! We’ve heard the first half of 2012, September, early October and now October 22 as launch dates for Isis’ Austin, TX and Salt Lake City, UT pilot. Considering they made this announcement just a week in advance, one would hope that mean’s they’re confident they won’t have to postpone yet again. If they keep pushing their launch off, NFC might actually have gained mainstream acceptance by the time they debut.
@dgwbirch: RT @pymnts: PayPal Exec: #MobileWallets Addresses Non-Existent Problem ow.ly/euKUc <- I’ve asked him to nip down to the ATM for me
That’s certainly the conclusion reached by Brian Smith, a Market Platform Dynamics managing director who detailed for PYMNTS several ways concerned companies can protect themselves from what he likens to examinations by the CFPB. We’ve seen the CFPB come down hard on financial giants such as Discover, American Exrpess and Capital One, and Smith predicts a “compliance frenzy” coming in the next few months.
@APGCashDrawer: An article worth reading > > System Down: Dealing With Catastrophic Risks In Payments: bit.ly/WuvtbZ via @pymnts
We agree. If you missed Market Platform Dynamics Founder David Evans’ piece on “cyberwar” and the inherent dangers that come with the electronic payments systems, be sure to check it out. Given the DDoS attacks we’ve seen on Capital One, Wells Fargo, PNC Bank and others in recent weeks, it’s an especially timely read.
Have a good weekend, and happy tweeting!