Canadians are now quite comfortable with contactless payments, but they view other new payment forms cautiously, according to new findings from Visa Inc.’s Canadian unit. Some 52% of 1,000 adults polled in February for Toronto-based Visa Canada said they are regular users of contactless cards. Also, 80% of respondents said …
Read More »Galileo Processing Expands Beyond the Prepaid Niche Into the Wider World of Payments
Best known for serving prepaid card providers, Galileo Processing says it is rapidly expanding into other parts of the electronic-payments industry with new services, including application programming interfaces supporting cryptocurrency transactions. Salt Lake City, Utah-based Galileo declined to disclose actual numbers, but said earlier this week that it posted a …
Read More »Backed by BBVA, a Fintech Startup Creates a ‘Borderless’ Payment Account
Denizen Financial Inc., a San Francisco-based startup backed by one of Spain’s biggest banks, has created what it calls “the first true global, borderless account” that allows customers to receive money in one country and pay it out in another while avoiding international transfer fees and foreign-exchange fees. Denizen says …
Read More »For TCF, It’s Full Speed Ahead With Contactless Payments
With about 18 months of experience with contactless debit cards under its belt, TCF Financial Corp. says it’s all-in for so-called dual-interface cards and mobile payments as the number of U.S. merchant locations accepting contactless payments continues to grow. The Wayzata, Minn.-based company’s TCF Bank began supporting the major mobile …
Read More »Orbitz Breach Exposes Risks to Partners, and the Vulnerabilities of Older Technology
Another day, another data breach. But each one has lessons for the payments industry, and that includes the breach disclosed Tuesday by online travel-services provider Expedia Inc.’s Orbitz subsidiary. Hackers accessed one of Orbitz’s older systems and thereby may have exposed 880,000 payment card numbers on file, according to press …
Read More »PayPal To Discontinue Its Pay After Delivery Service for U.S. Buyers
PayPal Holdings Inc.’s Pay After Delivery service will end April 19 for U.S. buyers. San Jose, Calif.-based PayPal included notice of the discontinuance in recent emails to account holders about the latest changes to its policies, and through a posting on the PayPal Web site. With Pay After Delivery, which …
Read More »With Same-Day ACH Fully Phased in, NACHA Plans Higher Limits and Other Enhancements
With the third and final phase of same-day automated clearing house payment processing now in effect, ACH governing body NACHA is turning its attention to improving the program through higher transaction limits, adding a later processing window, and other changes. Same-day ACH transactions currently are capped at $25,000. Herndon, Va.-based …
Read More »Gap Wants Its Top Suppliers To Ditch Cash Payments to Workers by 2020
Apparel and accessories retailer Gap Inc. wants its leading suppliers to stop paying workers in cash by 2020 and instead pay them digitally. San Francisco-based Gap, which had nearly $16 billion in sales last year and owns the Old Navy, Gap, Banana Republic, and Athleta brands, said this week that …
Read More »UnionPay Unveils Platform To Expand Its Mobile-Payment Services Worldwide
China-based UnionPay International has created a mobile-payments platform the big payment network hopes will further expand adoption of its payment services beyond its home country. The platform, dubbed UnionPay International Mobile Payment Service (UMPS), enables banks, merchants, mobile-phone manufacturers, and other third parties to access UnionPay mobile services through open …
Read More »Surcharging Is the Wave of the Future, ISO Executives Say
Not many merchants are doing it yet, but surcharging credit card transactions will soon gain more acceptance as businesses do whatever they can to reduce their card-acceptance costs. That’s the expectation of merchant-processing executives who participated in a panel Tuesday at the Southeast Acquirers Association annual conference in Orlando, Fla. …
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