By John Stewart@DTPaymentNews Same-day processing starts Friday on the nation’s automated clearing house network, and months of preparation and planning appear to be paying off. “Everybody is heads-down getting it done. We haven’t been getting any SOS calls,” Jane Larimer, executive vice president of network services at NACHA, the governing …
Read More »With Same-Day ACH Looming, Dwolla Unveils a Payout Feature for its White-Label API
By John Stewart @DTPaymentNews Companies that have been planning for months for the arrival Friday of same-day automated clearing house payments are getting ready to pounce, and one of the first opportunities lies in platform payouts. Des Moines, Iowa-based Dwolla Inc., for example, on Wednesday is announcing a new feature …
Read More »Samsung Preps Note7 Replacements and other Digital Transactions News briefs
• The total value of contactless transactions worldwide will reach nearly $500 billion next year, up fully 56% from an estimated $321 billion in 2016, according to Juniper Research. • Samsung Electronics America Inc. said more than 500,000 replacement Galaxy Note7 phablets have arrived in the U.S. and will be available …
Read More »EMV Adoption Slows, But the Contactless-Terminal Foundation is Growing
By Kevin Woodward @DTPaymentNews Almost a year after the U.S. payment card industry adopted EMV chip cards for point-of-sale transactions, approximately 44% of U.S. merchants that accept credit and debit cards have EMV POS terminals. That assessment, in The Strawhecker Group’s latest EMV survey released Tuesday, is less than an …
Read More »Frost Bank Joins clearXchange and other Digital Transactions News briefs
• The Clearing House Payments Co. LLC selected IBM Corp.’s Power8 system for its real-time payments service, expected to go live next year. The IBM system will run software from VocaLink Holdings Ltd., which TCH selected last year as a vendor for its project. VocaLink is being acquired by MasterCard …
Read More »Visa Will Drop Static Passwords for Its Verified by Visa Online Fraud-Control Service
By Jim Daly@DTPaymentNews Visa Inc. plans to phase out static passwords used with its Verified by Visa e-commerce fraud-control service beginning in April 2018. Visa’s announcement precedes even more changes coming to Verified by Visa’s underlying technology called Three-Domain Secure, or 3-Secure. EMVCo, the chip card standards body owned by …
Read More »Eye on Acquiring: BIN Supply Remedies And an Update on Faster EMV Techniques
By Kevin Woodward@DTPaymentNews Acquirers and processors have until Oct. 14 to prepare their systems for a new range of bank-identification numbers MasterCard Inc. intends to add to its inventory for issuers. Announced in 2014, the move is an attempt to stymie a possible exhaustion of BINs. These numbers are the …
Read More »Network Merchants Earns TSYS Certification and other Digital Transactions News briefs
• Processor Fiserv Inc. said a new scoring model for its Payment Fraud Manager service designed specifically for automated clearing house transactions detected more than 90% of fraud while reviewing only 2% of the transactions in model validation tests. • Payment gateway Network Merchants LLC announced its SwIPe EMV chip …
Read More »When It Comes to Friendly Fraud, It Seems Women Are a Lot Less Friendly Than Men
By John Stewart @DTPaymentNews Few things have thrown a spotlight on the 40-year-old chargeback process like the nation’s conversion to EMV chip cards at the point of sale, but it’s in online commerce where the problem has long plagued merchants. And now there’s evidence that these sellers may have more …
Read More »When It’s Time To Pay the Rent, Entrata Gets a Better Deal for Visa Debit Card Holders
By Kevin Woodward@DTPaymentNews With more than 3 million renters enrolled in an online rent-payment service, Entrata Inc.’s desire to optimize its payment-card acceptance costs is paramount. That’s why Lehi, Utah-based Entrata is working with Visa Inc. on an improved payment and authorization program for the multifamily-housing industry. Announced Thursday, the …
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