PayPal Inc.’s latest effort to enter the nascent business of processing transactions for merchandise shown on television—so-called T-commerce—could also help recruit more merchants for the San Jose, Calif.-based company’s point-of-sale payment service, a PayPal executive tells Digital Transactions News. As it turns out, merchants that agree to accept PayPal at …
Read More »Speculation Ends As Apple Unveils a Digital Wallet That Works with QR Codes
Ending months of speculation about is intentions in mobile payments and promotions, computer icon Apple Inc. on Monday entered the increasingly crowded market for digital wallets with an application it calls Passbook. At the same time, the company announced it now has card credentials for some 400 million users on …
Read More »Jury Nails VeriFone in Software Patent Case But Clears Rival Ingenico
A little software company gone bust won big against leading point-of-sale terminal maker VeriFone Systems Inc. in a patent-infringement verdict June 8. A federal jury in Texas found after a five-day trial that VeriFone infringed on two patents held by CardSoft Inc. and awarded damages and royalties of $15.4 million. …
Read More »Global Payments Breach Exposes Data From Applicants for Merchant Accounts
The hackers who broke into merchant processor Global Payments Inc.’s computer systems added a new chapter to the disreputable history of data breaches by gaining access to information from applicants for merchant accounts, the company disclosed late Tuesday. Global’s revelation apparently is the first publicly known incidence of merchant-applicant information …
Read More »Mobile-Payments Startup LevelUp Blazes a New Trail in Merchant Pricing
In what may be a harbinger of things to come in mobile-payments pricing models, Boston-based LevelUp has dropped its merchant-acceptance fee from 2% of the transaction to zero. Instead, the company will earn merchant fees of 35 cents per dollar of incremental sales generated by the redemption of rewards earned …
Read More »ACH Transaction Volumes Might Be Headed for a ‘New Normal’
Driven by fast growth in “native payments” that dispense entirely with paper checks, total automated clearing house network volume increased 4.4% in the first quarter over the year-earlier period, the ACH network’s highest quarterly increase since 2008’s fourth quarter. Michael Herd, managing director of network rules at ACH governing body …
Read More »New Network Required to Mine Full Potential in Mobile Payments, Report Argues
Marketing revenue from mobile payments has the potential to dwarf payments revenue, as pundits have been saying for some time, but that potential will never be realized unless a new sort of payment network is built, argues a new report. Existing networks like Visa Inc. and MasterCard Inc., not to …
Read More »List of Penn Station Restaurants Possibly Hit by Data Breach Grows
The Penn Station East Coast Subs submarine-sandwich restaurant chain says 59 of its 238 locations are now “potentially affected” by a debit and credit card data breach. Parent company Penn Station Inc. first said when it disclosed the breach June 1 that 43 franchisee-owned stores possibly were affected, but the …
Read More »By Mating GoPayment with QuickBooks POS, Intuit Could Steal a March on Square
Intuit Inc.’s announcement on Tuesday that it has integrated its GoPayment mobile-payment processing application with its QuickBooks Point of Sale 2013 software is expected to make GoPayments more appealing to small businesses than rival products from the likes of Square Inc. and PayPal Inc. Earlier this week, Square announced that …
Read More »Eye on Mobile: Consumers Like Non-Bank Wallets; Android Stays on Top
Nearly half of consumers are interested in using mobile wallets, and they are not necessarily wedded to wallet products from banks, according to research released on Monday. Indeed, some 48% of U.S. consumers surveyed online in April said they are interested in mobile wallets. Of these, 80% expressed a preference …
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