Digital Transactions Authoritative, insightful and timely information for payments professionals
• Visa Inc. and chip maker and software provider Intel Corp. announced a two-pronged security initiative, one of which aims to protect the growing Internet of Things (IoT) by integrating Visa’s encryption technology with Intel’s Data Protection Technology for Transactions service as an option for merchants. The second is aimed at improving online and device authentication. A massive distributed denial of services (DDoS) attack on major Internet sites Friday is believed to have originated with devices insecurely connected to the IoT.
• Processor Fiserv Inc. announced that “multiple” client financial institutions, including Ally Bank, Bank of the West, and BECU, have pledged to join Early Warning Services LLC’s Zelle person-to-person payments network, to which Fiserv is providing a link. Zelle is expected to launch early next year.
• In related news, Fifth Third Bank and Co-Op Financial Services said they are joining the Zelle peer-to-peer payments network.
• Point-of-sale hardware and payment-software provider VeriFone Systems Inc. introduced the Verifone V400m, a Linux-based handheld payment-acceptance device that supports multimedia applications.
• Ingenico Group launched the iSMP4, a mobile point-of-sale device featuring what the company said is the largest screen and battery capacity in its class and the ability to accept all forms of payments, including EMV, on the go.
• In related news, Ingenico also launched the Moby/3000, a Bluetooth-enabled mobile point-of-sale card reader that can accept both EMV and mag-stripe cards.
• Business accounting software provider Intuit Inc. and PayPal Holdings Inc. announced an expansion of their existing agreement under which customers of Intuit’s Quickbooks Online service in the U.S. and Australia can now get paid via PayPal in addition to other methods such as credit cards or bank transfers.
• Vantiv Integrated Payments, a unit of payment processor Vantiv Inc., announced triPOS Cloud and triPOS Mobile for software developers looking to integrate point-of-sale solutions via cloud or native applications.
• Synchrony Financial, which manages private-label card programs for merchants, introduced a plug-in that allows retailers to add a credit and rewards function to their existing mobile apps.
• ABnote Group has rebranded as American Banknote Corp. or ABCorp, a move the secure-transactions company said consolidates its regional brands under one.
• Wire-transfer provider MoneyGram International Inc. introduced its MoneyGram Kameleon service, a money-transfer-as-a-service feature that lets retailers and other third parties integrate MoneyGram’s platform into their Web sites.
