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Chalk another payment-card data breach up for the bad guys. Payment gateway Charge Anywhere LLC announced Tuesday it discovered a breach of its payments network. It says it has shut down the malware that caused it. South Plainfield, N.J.-based Charge Anywhere said the malicious software, which was discovered Sept. …
Read More »Chick-fil-A Serves Up a Mobile Payment And Ordering App
Fast-food restaurant chain Chick-fil-A Inc. has jumped into the mobile-payments frying pan with the debut Monday of a mobile payment and ordering app. Atlanta-based Chick-fil-A says the app, available for iOS and Android smart phones, can be used for mobile ordering at 130 Chick-fil-A restaurants in Atlanta, Chicago, Houston, …
Read More »Trade Groups Petition Congress in Effort to Ease Cybercrime Information Sharing
The Merchant Financial Cyber Partnership, a unique coalition of eight financial-services trade associations and 11 merchant groups, wants Congress to make it easier for retailers and financial institutions to share information with each other related to data breaches. Merchants and financial-services companies often are bitter foes when it comes …
Read More »The Value of Words: How Contract Terms Affect Portfolio Valuation
When negotiating a merchant-portfolio acquisition, buyers and sellers may want to examine more than the usual terms and conditions for elements that could affect the value, and potential, of the portfolio, advises an analyst. While there are obvious terms to look for, such as those directly related to ownership …
Read More »MPaay Combines Loyalty, Rewards, And Payments in One App
With the recent release of MPaay by New Media Insight Group Inc., merchants have another option when considering a smart-phone app that can provide mobile loyalty, rewards, and payments capabilities. n Consumers choose from three options to make a payment. One is via existing point-of-sale terminals at merchants that accept …
Read More »Braintree Expands Availability of One Touch Mobile Payments
Braintree, the PayPal Inc.-owned online processor, says it has expanded the availability of its One Touch mobile-payments service into international markets. Announced in September for U.S. merchants, One Touch enables consumers to make payments without typing their user names and passwords for each transaction. Braintree says this helps reduce …
Read More »Mobile Commerce Soars As Consumers Begin Their Holiday Shopping
Consumers wielding smart phones and tablets put their PayPal accounts to work over the just-passed holiday-shopping weekend. PayPal, a unit of eBay Inc. until its anticipated spinoff in 2015, says its global mobile-payments volume increased 62% on Black Friday, the day after Thanksgiving, over the same day in 2013. …
Read More »Parking Garage Operator Says Card Readers at 17 Locations Were Hacked
Parking-garage operator SP Plus Corp. says card readers at 17 garages it operates were hacked this fall, with one breach extending back to April. Chicago-based SP Plus says the company that provides and maintains the payment card systems in the 17 garages—10 are in Chicago, three in Evanston, Ill., …
Read More »CFPB Rules May Aid Larger Prepaid Card Issuers: Report
The 870-page tome of proposed rules issued Nov. 13 by the Consumer Financial Protection Bureau to govern prepaid cards may end up benefitting the top prepaid card issuers, says securities-rating agency Fitch Ratings. The regulations would require so-called “Know Before You Owe” disclosures and aim to improve consumers’ access to account …
Read More »Stress on Data Helps Swipely Hit $4-Billion Mark in Processing Volume
Merchant-services provider Swipely Inc. says it is now managing more than $4 billion in annual sales generated by its restaurant, hospitality, and retail clients, representing a four-fold increase over 2013, the company says. Providence, R.I.-based Swipely chief executive Angus Davis says the company’s three-pronged sales approach helps. In addition …
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