Some 48% of surveyed U.S. consumers don’t use Apple Pay, Android Pay, Samsung Pay, Venmo, or Bitcoin and 46% say not enough places accept these payment methods, according to invoicing and payments firm Viewpost, which canvassed 1,000 people. Mobile-payments provider LevelUp announced a link to delivery.com, which serves more than 12,000 restaurants. The connection …
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Apple’s Big Job: Getting iPhone Users Comfortable With Facial Biometrics
A large portion of Apple Inc.’s customers spurn facial biometrics, a key security element in Apple’s new iPhone X, according to new research. Survey results from United Kingdom-based Juniper Research say that more than 40% of users of Apple’s mobile devices in the U.S. consider themselves unlikely to use facial …
Read More »The Debit Card, Long ‘the King of Payments,’ Finds Itself Under Siege, Expert Says
For decades, debit cards have been reliable revenue generators and relationship builders for financial institutions of all sizes. But now that bulwark for banks is under threat from multiple alternatives, putting financial-services executives on the defensive and forcing them to rethink their card strategies, argues a new paper out this …
Read More »Bluefin in POS Software Deal and other Digital Transactions News briefs
North American Bancard said it will offer its PayAnywhere 2-in-1 Bluetooth Credit Card Reader free to new PayAnywhere merchants. Payments encryption company Bluefin Payment Systems said its services are available to users of NeuLion, software used by college-ticketing organizations. POSDATA Group Inc. said its Louisville, Ky.-based facility has been point-to-point key injection-certified by the …
Read More »Why Aliant Payment Systems Is Getting Set To Apply the ISO Model to Bitcoin Acceptance
Years ago, when banks wanted to sign up more merchants for credit card acceptance, they turned to non-bank third parties to sell the service. Now, these same third parties are starting to sell Bitcoin acceptance along with credit and debit cards. Aliant Payment Systems Inc., a Fort Lauderdale, Fla.-based independent …
Read More »Digital Payments Authentication Requires Agility and Adaptability, a Report Says
As more consumers make more digital payments, financial institutions and merchants face an increasingly complex challenge to better authenticate these transactions. That requires looking at ways to keep pace with criminals and staying in step with consumers, says Aite Group LLC in its latest report, “Digital Authentication: New Opportunities to …
Read More »Many Unlikely To Use Apple’s Facial ID Tech and other Digital Transactions News briefs
Credit-reporting agency Equifax Inc., which disclosed a huge data breach earlier this month, also sustained an apparently separate data breach in March, according to Bloomberg News. Few details about that breach are publicly known. Meanwhile, the U.S. Department of Justice reportedly has opened a criminal investigation into the sale of Equifax …
Read More »Consumers Pull Back on Buying Prepaid Cards, Survey Finds
Prepaid cards are still popular with Americans, but not quite as popular as in some recent years, according to new findings from Mercator Advisory Group Inc. A Mercator online survey of 3,011 U.S. adults in June found that 56% of respondents had purchased a prepaid card in the preceding 12 …
Read More »Bitcoin Shows Some Life After a Rough Week. But Will More Merchants Accept It?
Showing resilience after recent actions that pummeled its value, Bitcoin shot up from the depths early Monday and was trading above $4,000 again. As of 10:30 Eastern Time, its price stood at $4,056, after plunging as low as $2,981 in recent days on some exchanges, according to Coindesk, which tracks …
Read More »Processor Aliant Strikes a Deal With BitPay to Sell Merchants on Bitcoin Acceptance
Payments provider Aliant Payment Systems now offers Bitcoin acceptance for merchants through a deal with BitPay Inc., a Bitcoin processor, Aliant announced Monday. Fort Lauderdale, Fla.-based Aliant says the relationship makes it one of the first payment-processing companies to offer merchants Bitcoin acceptance. It is doing this, in part, because …
Read More »Revolution Payments Launches Interchange-Adjustment Service and other Digital Transactions News briefs
Payments provider Revolution Payments announced an interchange-adjustment service for business-to-business and business-to-government credit cards that automatically attaches details to each transaction that qualify the transactions for level 3 interchange rates, which are less than level 1 and level 2 rates for such transactions. Unattended-payments specialist USA Technologies Inc. announced a partnership with Premier Food Service …
Read More »First Data Stats Reveal Hurricane-Induced Whipsawing of Consumer Spending
One advantage in providing merchant-acquiring services to 3.6 million U.S. locations is that First Data Corp. has a unique read on how major disasters such as hurricanes affect consumer spending. Statistics from the Atlanta-based processor show that spending spiked in the Miami area just before Hurricane Irma made landfall in …
Read More »Paychex Launches Same-Day ACH Debits and other Digital Transactions News briefs
Payroll-software provider Paychex Inc. introduced same-day debits processing on the automated clearing house. The new functionality allows employers to initiate corrections or reversals the same day the payroll is processed. Under ACH rules, same-day debits started Friday. Frost Bank introduced “Send Money with Zelle” on its Frost app. Zelle is a bank-controlled person-to-person payments network launched earlier …
Read More »A Year After Same-Day Credits, the ACH Gets Set to Launch Same-Day Debits Friday
The nation’s automated clearing house network launches same-day clearing and settlement on Friday for debit transactions, and top officials at NACHA say the Herndon, Va.-based network administrator is making final preparations. “We’re looking forward to tomorrow,” Jane Larimer, chief operating officer and general counsel at NACHA, told Digital Transactions News …
Read More »High-End Merchants Look to Cash in on Wealth Effect From Run-up in Bitcoin’s Value
Bitcoin has taken a beating in recent days, but investors who bought earlier this year are still enjoying handsome returns. Now, some merchants of high-end goods are signing up to accept the virtual currency, hoping to cash in on that wealth effect. Bitcoin was trading at $3,498 early Thursday morning, …
Read More »Vantiv Debuts a Debit Card-Based Settlement Service
Merchants that process with Vantiv Inc. will have a new option to receive their settlements within minutes in the FastAccess Funding program the processor and program partner Visa Inc. announced Thursday. Merchants typically receive their settlement funds via the automated clearing house, which may take one to three days. Instead …
Read More »First Data Notes Hurricane Impact and other Digital Transactions News briefs
Citing the recent huge data breach at credit-reporting agency Equifax Inc., the National Retail Federation and other trade groups in a letter to Congressional leaders said any new federal law governing data-breach notifications should apply to all industries that handle consumer data. The groups want a uniform federal standard to replace the …
Read More »With its New iPhone X, Apple Brings Facial Biometric Authentication to Apple Pay
The Apple Pay mobile-payments service got only a few brief mentions in a nearly two-hour presentation Tuesday afternoon in which Apple Inc. executives introduced the latest versions of their 10-year-old iPhone and other new products. But what they did say could change payment security because the new iPhone X will …
Read More »LevelUp Reaches Open Dining Agreement and other Digital Transactions News
ICBA Bancard, the card-processing unit of the Independent Community Bankers of America trade group, said it will offer member banks a card-not-present authentication service through Visa Inc.’s CardinalCommerce subsidiary. Mobile-payment provider LevelUp has reached an agreement with Open Dining, a vendor of mobile order-ahead technology, to list restaurants using Open Dining’s platform …
Read More »MagicCube Prepares for a PIN-on-Glass PCI Specification Due Later This Year
In anticipation of an upcoming PCI Security Standards Council specification for enabling PIN-on-glass transactions with consumer mobile devices, MagicCube released MC-Screen Shield, a back-end technology to help secure the PIN. PIN-on-glass technology—in which the PIN is entered via a display instead of using a dedicated PIN pad—has been available for …
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