Calling it a “sophisticated criminal effort,” Barnes & Noble Inc. on Wednesday reported tampering occurred on PIN pads at 63 of its stores in nine states. The company on Sept. 14 disconnected every PIN pad in all of its nearly 700 stores but indicated that in addition to personal identification …
Read More »Google Mobile Chief Bedier Issues a Teaser About a New Wallet Version to Come Soon
Google Inc. will launch yet another new version of its mobile wallet in about a month, Google’s top executive for the product said on Monday. The latest version, which Osama Bedier, vice president of Google Wallet and payments, referred to as “the 2.0 version” of the product, comes just short …
Read More »Isis Launches with Nearly 1,000 Merchant Locations, Nine Smart Phones
The carrier-backed Isis mobile-payment service debuted in a low-key launch Monday in Austin, Texas, and Salt Lake City with almost 1,000 merchant locations participating and its near-field communication (NFC) system workable on nine smart-phone models. Digital Transactions News counted 493 merchant locations in the Salt Lake area and 470 in Austin, for …
Read More »Speed, Efficiency Top Fed Priorities, But Banks’ Wire Profits Hinder Faster ACH
A senior Federal Reserve official said greater speed, efficiency, and responsiveness to consumer preferences are the central bank’s top payments priorities as it plans for the next decade. But apart from promoting open communication and collaboration among industry players, Sandra Pianalto, president and chief executive of the Federal Reserve Bank …
Read More »MasterCard Is Readying an EMV Liability Shift for Card-Not-Present Payments, Exec Says
MasterCard is getting close to announcing an EMV-related liability shift for online and other card-not-present transactions, a network executive said on Monday. “MasterCard will have a card-not-present liability shift,” said Melanie Gluck, vice president of emerging payments at the country’s second-largest payments network. “We haven’t announced it yet, it’s under …
Read More »With Isis Finally Launching Its Two-City Pilot, Consumers Get a Chance To Decide Its Fate
It looks like it’s finally going to happen. The much-anticipated, much- delayed Isis mobile-payment venture backed by three big telecommunications companies is scheduled to go live on Monday in its test cities of Austin, Texas, and Salt Lake City. Now the ultimate consumers of the new system, mobile-phone users, will …
Read More »EMV No Guarantee Against High Rates of Card Fraud, Study Shows
Cardholders in Mexico, not the United States, report the highest incidents of card fraud, according to a new report from Boston-based Aite Group LLC and Elkhorn, Neb-based ACI Payment Systems. Of the credit, debit, and prepaid cardholders surveyed in Mexico, where EMV cards are rolling out, 44% reported an incident …
Read More »FTC Official Warns Top Acquiring Execs To Do More About Online Fraud
The extent of government scrutiny of the acquiring business came into sharp relief on Wednesday as a federal official told an audience of top-level executives with processors and independent sales organizations that online transaction fraud is too high and that the executives must do more to bring it down. “There …
Read More »PayPal Now Aims for Consumer Awareness of Its Expanding Merchant Presence
With its “PayPal Offline” initiative to sign point-of-sale merchants for PayPal acceptance well under way, the payments subsidiary of eBay Inc. now is turning its attention to consumers, eBay executives told analysts on Wednesday. “PayPal intends to be everywhere consumers need an easy, safe, secure way to pay,” eBay president …
Read More »PCI Waiver Expected To Spur Merchant Adoption of EMV Terminals
Despite just 10% of U.S. merchant terminals being capable of accepting EMV chip cards today, 60% of all terminals likely will be EMV-enabled by 2015, according to a new report from Javelin Strategy & Research. Javelin also expects U.S. issuers will convert the bulk of their credit, debit, and prepaid …
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