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The Clearing House Payments Co. LLC, which last summer announced its effort to tokenize payment card numbers, is now mulling a related system that would similarly mask sensitive consumer information related to automated clearing house transactions, and may have a proposal ready by year’s end. “It’s something we’ve spent a …
Read More »Leaf Adds a Merchant Services Provider Referral Marketplace
Tablet-based point-of-sale provider Leaf Holdings Inc. is providing a marketplace to help merchant service providers find merchants. Dubbed Payments Apps, the service provides a free listing with the payment company’s contact information and a description of up to 2,000 characters. Payment companies pay $10 per month per merchant if the …
Read More »ETA Seeks A More Visible Presence at Regional Acquirer Conferences
Payments industry professionals attending one of the four regional acquiring conferences can expect to see more from the Electronic Transactions Association at the events. n “This is a conscious effort on the part of the ETA to participate, support them, and engage in mutually beneficial activities,” Oxman tells Digital Transactions …
Read More »Mercury Payment Systems Files Registration Statement for Possible IPO
The merchant-acquiring industry might soon get another publicly traded company should independent sales organization Mercury Payment Systems Inc. follow through on plans to sell a minority stake in the company. n Mercury Payment Systems Inc.’s operating subsidiary, Mercury Payment Systems LLC, currently is 62% owned by an affiliate of private-equity …
Read More »New Law Enforcement Tactic Could Snare ISOs and Acquirers in Quest To Catch Bad Merchants
A historical shift in how some federal financial law-enforcement agencies view the payments industry is under way, and it’s not one that bodes well for the industry, Jason Oxman, chief executive of the Electronic Transactions Association, told attendees at the Southeast Acquirers Association conference this week in Atlanta. Dubbed …
Read More »Merchant Warehouse’s Opticard Purchase Intended To Enhance Small Business Products
Merchant Warehouse Inc. has bought gift and loyalty provider Opticard and has plans to offer its services as part of bundled transaction services to merchants. Scottsdale, Ariz.-based Opticard, which will continue to operate independently, sells gift and loyalty card services to small businesses. Merchants can use Opticard programs to …
Read More »Banks Sue Trustwave, Target’s PCI Services Provider Before the Retailer’s Data Breach
Trustwave Holdings Inc., the leading provider of Payment Card Industry data-security standard (PCI) services to merchants, on Monday became the target of a lawsuit arising from the massive data breach at Target Corp. The suit, filed in U.S. District Court in Chicago by two banks, claims negligence on the part …
Read More »Smucker’s Hacked E-Commerce Site To Reopen Soon; Sally Beauty Confirms Breach
The J.M. Smucker Co.’s online store is expected to reopen next week, nearly a month after the jam-and-jelly producer closed it after discovering that hackers had broken into its computer system and stolen payment card data and other personal information on up to 23,000 customers. In other data-security news, beauty …
Read More »2Checkout Ditches ‘Archaic, Slow’ System for a Speedier Merchant-Approval Process
Patience is not an online virtue for consumers, and, it appears, for merchants waiting for online approval of their payment-processing account applications. At least that’s the assessment of Tom Dailey, chief executive of 2Checkout, a Columbus, Ohio-based e-commerce payment-services company, which announced this week it has revised its underwriting …
Read More »Chirpify Reports Upbeat Results for Its New Action Tags for TV Commercials And Arenas
Consumers are responding enthusiastically to a new service that lets them buy goods from and otherwise interact with brands via social media in sports stadiums, through TV ads, and other venues, according to results released Monday by Chirpify, the Portland, Ore.-based company that announced the service in September. The service …
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