Friday , November 8, 2024

Digital Transactions News staff

With No Credit Card Cushion, TCF Sees Debit Card Revenue Drop 51%

Yet another big debit card issuer, TCF Financial Corp., weighed in with results from the first full quarter of Durbin Amendment debit card interchange price controls, and they weren’t pretty. The Wayzata, Minn.-based regional bank said on Tuesday that card revenue fell 51% to $13.6 million in the fourth quarter …

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Fraud From Euronet Breach Hits Mag-Stripe Cards, Spares EMV Chip Cards

Payment processor Euronet Worldwide Inc. reported on Monday that part of its European businesses sustained a computer security breach late last year. The disclosure is of interest to the U.S. payments industry as it moves slowly toward adoption of EMV chip cards because most European cards have both a chip …

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Holiday Post-Mortems Show Healthy Volume Gains, Sagging Average Tickets, Shift to Debit

The post mortems on the holiday shopping season are arriving from major processors, and the emerging picture appears to be one of strong consumer spending but drooping average tickets online, in physical stores, and on merchant-branded gift cards. At least one report also found a switch in consumer preferences in …

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The Durbin Amendment’s Early Toll on Big Banks: $1.1 Billion And Counting

  Ouch. The Durbin Amendment, which slapped debit card interchange price controls on big banks beginning Oct.1, cost some of the nation’s largest financial institutions more than $1.1 billion in reduced fourth-quarter revenue. Digital Transactions News calculated that figure based on what seven national or large regional banks disclosed over …

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Though Zappos Case Gets ’12 off to Gloomy Start, Number of Card Records Breached Fell in 2011

Despite a seemingly non-stop parade of headlines about data breaches last year, the number of credit and debit card records compromised actually fell, according to new figures from the Identity Theft Resource Center. The ITRC says it identified 111 data breaches that exposed 3.38 million records in 2011. n In …

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Protests Might Remove Acquirers From the Online Piracy Fray

The Internet revolt over bills in the U.S. House and Senate aimed at thwarting online piracy might have a welcome side effect for merchant acquirers in possibly getting them out of an unwanted role as deputies charged with enforcing public policy. The online encyclopedia Wikipedia captured international headlines Wednesday when …

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PayPal’s Home Depot POS Pilot Set to Expand to 51 Stores, eBay Chief Says

San Jose, Calif.-based PayPal Inc. later this week will expand its five-store point-of-sale payments pilot with Home Depot to 51 stores, chiefly in the San Francisco Bay area, according to John Donahoe, chief executive of eBay Inc., PayPal’s parent company, and interim president of PayPal. Speaking during a fourth-quarter conference …

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Marching to the Point of Sale, PayPal Strikes Its First Terminal Agreement

  n Ingenico has been piloting PayPal acceptance for six months, Greg Burch, director of business development at the terminal vendor, tells Digital Transactions News. Burch refuses to name the merchant involved in the pilot, but news emerged last week that Home Depot, which uses Ingenico devices, is testing PayPal …

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PayPal Says It Did $4 Billion in Mobile Volume in 2011, Projects $7 Billion for This Year

PayPal Inc. on Wednesday projected its mobile-payments volume this year will reach $7 billion, nearly doubling the $4 billion it now says its mobile service processed in 2011. The final number for last year came in significantly higher than the $3.5 billion PayPal was estimating late in the year and …

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Virtual Currencies Not Yet Ready for Prime Time, Though Facebook Credits Could Be Close

The Internet, especially through online gaming and social networks, has spawned a number of new electronic currencies. Are any of these ready to make the leap into general usage, the way dollars and pounds and euros and yen are today? That was the fascinating question raised this week at a …

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