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Calling it a “sophisticated criminal effort,” Barnes & Noble Inc. on Wednesday reported tampering occurred on PIN pads at 63 of its stores in nine states. The company on Sept. 14 disconnected every PIN pad in all of its nearly 700 stores but indicated that in addition to personal identification …
Read More »FTC Official Warns Top Acquiring Execs To Do More About Online Fraud
The extent of government scrutiny of the acquiring business came into sharp relief on Wednesday as a federal official told an audience of top-level executives with processors and independent sales organizations that online transaction fraud is too high and that the executives must do more to bring it down. “There …
Read More »PayPal Now Aims for Consumer Awareness of Its Expanding Merchant Presence
With its “PayPal Offline” initiative to sign point-of-sale merchants for PayPal acceptance well under way, the payments subsidiary of eBay Inc. now is turning its attention to consumers, eBay executives told analysts on Wednesday. “PayPal intends to be everywhere consumers need an easy, safe, secure way to pay,” eBay president …
Read More »PCI Waiver Expected To Spur Merchant Adoption of EMV Terminals
Despite just 10% of U.S. merchant terminals being capable of accepting EMV chip cards today, 60% of all terminals likely will be EMV-enabled by 2015, according to a new report from Javelin Strategy & Research. Javelin also expects U.S. issuers will convert the bulk of their credit, debit, and prepaid …
Read More »USAT Strikes a Deal With Visa, But No Word About a Fix for Small-Ticket Debit Interchange
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 »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 »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 »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 …
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