What are the puzzle pieces that will make “rewiring commerce” work? Small companies are very challenged in delivering value within networked business. They certainly do not have the heft to create their own, so they must choose sides. Within the card linked offers space, they align to the big card networks. This alignment has implications for attracting retailers and the targeting which can be done from bank data (store preference) vs the targeting which retailers can deliver (brand and price).
Verifone’s CEO (Doug Bergeron) published an open letter to the industry on Square’s flaw. The Square doggle is not PCI compliant (see my blog from last year). Verifone is spot on… they built this skimming application in ONE HOUR.