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Retail Law Advisor

Category Archives: Banking

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Credit Card Evolution: Goodbye John Hancock

Posted in Banking, Restaurants, Retail, Retail Sales, Technology

For years, the signature requirement for completing a credit card transaction has felt something like an obsolete means of confirming a user’s identity. Effective this month, however, four of the country’s largest credit card providers: American Express, Discover, Mastercard and Visa, will no longer require a signature to complete a purchase via credit card. The… Continue Reading

Video Interview: Discussing Mobile Payments and Data Security with LXBN TV

Posted in Banking, Finance, Privacy, Retail, Retail Sales, Technology

Following up on a recent post on mobile payments, I had the opportunity to discuss the growing adoption of Apple Pay, Google Wallet and mobile payments with Colin O’Keefe of LXBN.  In the interview, I explain why the adoption of these technologies may soon explode.  I also talk about why this is a good thing… Continue Reading

Apple Pay and Google Wallet: Mobile Payment Going Mainstream

Posted in Banking, Finance, Retail, Retail Sales, Technology

When Apple announced on September 9, 2014 that the iPhone 6 would be equipped with a mobile payment system appropriately called Apple Pay, the entire mobile payment universe woke up. Although competitors had existed for years, none had gained considerable traction. In fact, within a month of releasing Apple Pay, Apple proclaimed to be bigger… Continue Reading

Release of the iPhone 6 — Is Apple Riding the Security Wave?

Posted in Banking, Retail, Retail Sales, Risk Management, Technology

Another month brings another reported massive data breach. On September 8, 2014, Home Depot confirmed that its payment data systems had been breached, potentially impacting customers using payment cards at the retailer’s US and Canadian stores beginning in April 2014. The breach was purportedly aided in part by a new variant of the malicious software… Continue Reading

Bitcoins: Gold 2.0 or a Mirage?

Posted in Banking, Finance, Retail, Retail Sales

The debate over Bitcoins is heating up. While the Winklevoss brothers call them “Gold 2.0”, Warren Buffett labels them a “mirage”. So what exactly are Bitcoins? In simple terms, Bitcoins are a form of digital currency that can be transferred online directly between two parties. Bitcoin payments do not involve the third parties commonly associated… Continue Reading

Big-Box Retailers Provide Alternative Forms of Access to Financial Services

Posted in Banking, Finance, Retail

Several large, national retailers have recently entered or expanded their reach into the market for financial services. Their initiatives have given consumers new banking and credit alternatives. At the same time, however, the new products may attract scrutiny under existing banking laws and their ultimate prospects remain to be seen. In October 2012, Walmart partnered… Continue Reading

Trouble in the Village. Community Banks Face New NIMBYism

Posted in Banking, Retail, Zoning

Can the proliferation of new bank branches threaten the vitality of downtown retail areas? Some think so. As reported in the Boston Business Journal recently, proposals for new bank branches in two affluent communities in the metro-Boston area have led to protest and a call for the passage of new zoning regulations to limit the… Continue Reading