Digital Transactions Authoritative, insightful and timely information for payments professionals
Publicly traded payments companies fared slightly worse than the major market indexes Monday in a continuation of a Wall Street selloff triggered by investor worries about China’s economic situation, overvaluation of securities, and the future of U.S. interest rates. Fifty companies tracked by Digital Transactions News fell 4.03% from Friday’s …
Read More »Eye on Security: Visa-Target Settlement; Ashley Madison Hackers Post Payment Data
Visa Inc. has struck a settlement with Target Corp. that would reimburse Visa’s credit and debit card issuers up to $67 million for their expenses related to Target’s massive data breach in late 2013. Meanwhile, hackers who stole data from the Ashley Madison Web site have posted seven years of …
Read More »Instant Deposit Could Be a Hit With Sellers, But How Long Before Copycats Arrive?
By John Stewart A new service from Square Inc. that accelerates merchants’ access to their funds in return for a 1% fee is likely to gain popularity among the small sellers that primarily use Square for transaction processing, according to some observers. That may hand Square a key advantage in …
Read More »With Certification Final, the DNA Offers Its Common AID for EMV Debit
By Kevin Woodward Financial institutions that are facing the U.S. conversion to EMV chip cards but have no global card brands on all or a portion of their debit card portfolios now have an option that helps them meet regulatory requirements. The Debit Network Alliance LLC, which is owned by …
Read More »Does a ‘Shimmer’ on a Mexican ATM Portend a Fraud Threat to U.S. EMV Chip Cards?
A variant of a skimming device called a “shimmer,” which steals EMV chip card data, has been found on an ATM in Mexico, raising security questions as the United States converts to the EMV standard. The shimmer incident was first disclosed Tuesday by security reporter Brian Krebs of the KrebsOnSecurity …
Read More »XpressBuy’s E-Commerce Deal Expands In-the-Moment Buy-Button Availability
XpressBuy Inc., developer of a buy button that can be used on the Web, in social networks, apps, and emails, says four of the largest e-commerce platforms have integrated its technology into their systems. Retailers using Demandware Inc., IBM Corp.’s WebSphere Commerce, Shopify Inc., and eBay Inc.’s Magento now can …
Read More »COMMENTARY: A Five-Point Checklist for Merchants Trying To Beat the EMV Clock
Credit card fraud in the United States is at epidemic levels. Last year, the U.S. accounted for more fraud than the rest of the world combined. And the fraud rates are accelerating. EMV technology, which has shown to greatly reduce in-store fraud in Europe, is finally being rolled out in the …
Read More »Eye on EMV: Unprepared Merchants in for a ‘Big Surprise;’ U.S. Conversion Lifts Ingenico
By Jim Daly Some merchant categories such as restaurants are moving slowly into EMV chip card acceptance ahead of the looming Oct. 1 liability shift because they experience little of the fraud EMV cards are intended to prevent, while others are going to find losses “winging back at them,” executives …
Read More »Eye on Earnings: MasterCard Touts ‘Agnostic’ Tech Approach; Vantiv Revenue Climbs
By John Stewart and Jim Daly With products like its MasterPass digital wallet, MasterCard Inc. has stepped up its efforts to stake a claim in the emerging market for digital payments. But the company is loath to commit itself too soon to any particular technology, according to the card network’s …
Read More »Merchants Have New Ammo To Blow up Interchange Settlement—But Is It Enough?
By Jim Daly Citing what they say were improper communications between two lawyers on opposing sides of a $5.7 billion settlement between merchants and Visa Inc. and MasterCard Inc., attorneys for a group of about 30 merchants gave notice to the networks Tuesday that they want to have the settlement …
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