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Table of Contents

Lead Story

Mobile payments 2013 - Part 2


Industry Update

Visa faces challenges to breach fines

FinCEN tackles regulation of virtual currency

10 debit networks pick Discover AID

PayPal co-founder continues innovation

Selling Prepaid

Prepaid in brief

Kaiku makes prepaid a lifestyle choice

Bluebird goes retro with check writing


Securing online payments in North America

Brian Crozier
NetPayment Solutions Inc.

The rise of e-money

Dave Wilkes
Fuze Network


Street SmartsSM:
Traded my drafting table for a demo bag

Dale S. Laszig
Castles Technology Co. Ltd.

Scenarios to avoid in portfolio sales

Adam Atlas
Attorney at Law

EMV for U.S. merchants: Effects and side effects of compliance

Peter Helderman

Company Profile

SCIL-EMV Academy

New Products

Next step, virtual POS

linked2pay virtual terminal
Company: Transmodus Corp.

Aloha to go

NCR Mobile Pay
Company: NCR Corp.


The long and short of service


Readers Speak

Resource Guide


A Bigger Thing

The Green Sheet Online Edition

April 08, 2013  •  Issue 13:04:01

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PayPal co-founder continues innovation

Max Levchin, a founder of PayPal Inc., is funding the online mobile payment startup Affirm. Initially called Expedite, Affirm is the first project launched by Levchin's San Francisco technology company Hard Valuable Fun. The company said the name was changed to affirm its technology is "a fast, elegant checkout experience."

Authenticating with Facebook

Affirm is an online mobile payment app that allows consumers to make purchases on mobile devices by using their Facebook information at checkout, which serves to authenticate consumers. The company stated it takes just two taps on a mobile device to make an online payment using Affirm: first the user taps the Affirm button on the merchant's checkout page; then the user taps to confirm the order. Affirm allows consumers 30 interest-free days within which to pay back Affirm at its website, which accepts credit and debit cards from all major card brands. Borrowers can also mail Affirm checks for payment. There are no consumer fees; merchants are charged for the service.

The company relies on the Facebook profiles of its registered users to authorize credit, but it may ask for additional credit or debit card information to complete a purchase if it cannot glean enough data from the Facebook account. The information gathered from Facebook helps to prevent fraud and deliver payment information, the company said. Affirm added that customers will soon be able to log in using other social media services.

Affirm may be downloaded on any mobile device and can be used only with participating merchants. The company also said "a team of cryptographic experts, with years of experience in payments and security" designed the system to protect sensitive consumer and merchant data.

Working to change the world

In a recent blog post, Levchin described what he hopes to do with HVF. "It is clear that the path forward for me is to seek that balance of hard, valuable, and fun in every project I start, join, back, or advise," he wrote. "Hard is for intellectual engagement, the search for solution by any means necessary. Valuable is the knowledge that if this, whatever this is, works, the world will never be the same. Fun is the sense of passion, the wings that carry you out of the pit of despair when nothing seems to work; the first thought upon awakening - I've gotta get to the office!"

For additional news stories, please visit and click on "Read the Entire Story" in the center column below the latest news story excerpt. This will take you to the full text of that story, followed by all other news stories posted online.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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Spotlight Innovators:

North American Bancard | Simpay | USAePay | Impact Paysystems | Board Studios