Digital Transactions Authoritative, insightful and timely information for payments professionals
In what amounts to a reminder about an unanticipated consequence of the Durbin Amendment debit card regulations, USA Technologies Inc. (USAT) reported Wednesday that it had extended its agreement with Visa Inc. that provides the vending-machine payment network operator with favorable pricing on small debit transactions. The news wasn’t a …
Read More »Groupon Supplements Its New Payment Service With the iPad-based Breadcrumb System
n Online daily-deal leader Groupon Inc. followed up on its big payments announcement of last month with Wednesday’s national rollout of its Breadcrumb service, a point-of-sale system for restaurants, cafes, and bars centered on Apple Inc.’s iPad tablet computer. n Breadcrumb itself is not a payments service, but is …
Read More »Acquirers Bear Burden to Warn Small Merchants About EMV Risk Shift, Processor Exec Says
With a major chip card standard bearing down on U.S. merchants, acquirers, and issuers, small merchants in particular could face tens if not hundreds of millions of dollars in annual fraud losses they are currently protected from, a processor executive argues. Patty Walters, senior vice president for merchant products and …
Read More »Tab for Global Payments Data Breach Could Total About $120 Million
Global Payments Inc. still expects it could spend about $120 million as a result of the data breach it reported in early March, but new information from the company gives a glimpse of just where that money is going. The big merchant processor, however, didn’t give any new details in …
Read More »For POS Push, PayPal Snags Big-Time Processors But Works to Woo ISOs As Well
The deals PayPal Inc. and Discover Financial Services disclosed last week with processors Vantiv Inc. and Global Payments Inc. are just the start of PayPal’s efforts to win acceptance at physical merchants. PayPal is also starting to woo independent sales organizations to help push its mark into potentially millions of …
Read More »On One-Year Anniversary, Heartland Says ‘Durbin Dollars’ Helping Merchants, Consumers
Almost universally derided by banks and payment card networks, the Durbin Amendment debit card interchange price controls that took effect a year ago Monday have received mixed reviews from merchant acquirers. But one big acquirer that made Durbin a key part of its sales and retention efforts early on, Heartland …
Read More »C-Store Managers Add to Chorus of Merchants Opposing Interchange Settlement
Merchant plaintiffs and the payment card network and bank defendants should return to the bargaining table and hammer out a new solution to the credit card interchange litigation for which they announced a proposed settlement July 13. That’s the conclusion of Aite Group LLC in releasing results of its recent …
Read More »New Study Documents the Outsize Fraud Exposure from Mobile Payments
Even though merchants accepting mobile payments are in the minority and mobile-payment volume is low, losses from fraud incidents for those merchants are higher than for non-mobile-accepting merchants, according to the fourth annual “LexisNexis True Cost of Fraud” study sponsored by content provider LexisNexis Risk Solutions and conducted by Javelin …
Read More »Nine Retail Trade Groups Take Their Credit Card Settlement Beefs to Congress
Numerous merchants and merchant groups have publicly declared their opposition to a controversial proposed settlement to the big credit card interchange litigation pending in federal court. In hopes of turning the settlement into a political issue, nine trade associations on Thursday took their beefs about it to Congress. In a …
Read More »Daily-Deal Leader Groupon Makes Its Play for Mobile Payments
The crowded mobile-payments space for small merchants just got more cramped as daily-deal leader Groupon Inc. announced its new Groupon Payments service for merchants using Apple Inc.’s iPhone and iPod touch devices to accept credit and debit cards. Groupon is coming in with low card-acceptance prices and aiming to leverage …
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