Friday , November 8, 2024

Digital Transactions News staff

COMMENTARY: Ignore the Naysayers! Here’s Why Apple Pay Will Be a Winner

Here’s a resolution that the payments industry should consider: Stop doubting market capabilities and start anticipating currents within the technological wave. With the unveiling of Apple Pay, naysayers are already coming out in full force. However, I’ve spent considerable time in the card-not-present environment, giving me a unique perspective on …

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First Data Reports First Profit in 29 Quarters Since Going Private

Leading payment processor First Data Corp. late Tuesday reported its first quarterly profit since being taken private in a $29 billion leveraged buyout by investment firm Kohlberg Kravis Roberts & Co. in 2007. Net income wasn’t big, $11.8 million, but it beat the $123.1 million loss Atlanta-based First Data reported …

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A New Study Says More Than 30% of Big Merchants Are Not PCI-Compliant

Fudging the numbers about their merchants’ compliance with the Payment Card Industry data-security standard (PCI) may be a common practice by merchant acquirers if findings from a new study about payment card data security are to be believed. The study by the Merchant Acquirers’ Committee, an association of more than …

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It’s Quieter Than Starbucks, But Cumberland’s Mobile App Is Ringing up Results, Too

Gasoline retailer Cumberland Farms, which operates nearly 600 stores in eight Northeastern states, is proving you don’t have to sell fancy coffee concoctions to generate impressive results with a mobile app. The program, which Cumberland calls SmartPay, enrolled 100,000 customers in the first 45 days after its 2013 launch—a response …

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Cardtronics Finds Banks To Fill Part of Its Chase ATM Void

Leading retail ATM network owner Cardtronics Inc. has already found banks ready to put their brands on 40% of the Cardtronics ATMs that until recently bore the JPMorgan Chase & Co. brand, chief executive Steve Rathgaber told analysts Wednesday. Chase informed Houston-based Cardtronics about three months ago that it planned …

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Eye on Processors: EMV Card Orders Boost FIS; Fiserv’s Debit Business Grows

Orders for Europay-MasterCard-Visa (EMV) smart cards rolled in for bank and payment processor Fidelity National Information Services Inc. (FIS) in the fourth quarter while rival Fiserv Inc. saw increases in its multi-faceted payments business. Jacksonville, Fla.-based FIS on Thursday reported $647.2 million in fourth-quarter revenues from its Payment Solutions Group …

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Braintree’s Mobile Transactions Grew 400% in Fourth Quarter

Online-payments provider Braintree says 2014 was a banner year for the Chicago-based unit of PayPal Inc., with total transactions growing to 2.8 times the 2013 tally. In a blog post, chief executive Bill Ready also said that Braintree’s mobile transactions in the fourth quarter increased to four times the number …

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It’s Not the Only Factor, But Security Looms Large as Consumers Eye Mobile Payments: Survey

  Despite all of the hype about mobile payments, consumer concerns about security, convenience and where they can use smart phones have yet to be addressed, finds a survey from The 451 Group. Of the more than 4,100 North American consumers polled in December, 84% cited security as the top …

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A New Card Aims to Combat Data Breaches with Unique Numbers for Each Transaction

Consumers are weary of dealing with the fallout from data breaches and want a better way to minimize their risk. The backers of Final, a new credit card with online-management tools that can set spending caps and produce virtual card numbers tied to specific merchants, hope to alleviate some of …

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Visa Chief Scharf Holds out Digital Payments As Olive Branch to Fee-Weary Retailers

In the wake of an important Supreme Court decision early last week, Visa Inc.’s chief executive Thursday afternoon sounded a conciliatory note on the company’s often fraught relations with merchants and touted Visa’s digital-payments initiatives as a way of bringing more value to retailers in return for the fees they …

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