Digital Transactions Authoritative, insightful and timely information for payments professionals
It was only a matter of time before mobile payments came to the parking industry. And no, the latest application doesn’t depend on near-field communication (NFC), a contactless technology that has been ensnarled in endless disputes between banks and mobile operators and is reportedly being eyed by high-flying players like …
Read More »Despite PCI, a Scanning Tool Finds Widespread Storage of Unencrypted Data
One of the key tenets of the 6-year-old Payment Card Industry data security standard (PCI) is that merchants should never store unencrypted card data in their systems. But data generated from a recent beta test of a new system-scanning tool shows many merchants, knowingly or unknowingly, are violating this basic …
Read More »Confusion Forces VeriFone to Pull Skimming Demo As Square Defends Itself
VeriFone Systems Inc. fired a blast at rival mobile-payments provider Square Inc. on Wednesday and sustained some powder burns in the process, but the leading U.S. point-of-sale terminal maker nonetheless may have brought some legitimate concerns about Square’s security into the open, according to at least one analyst. By Thursday, …
Read More »Apple’s New iPad Could Be Even More Suitable for Payments Than the Old One
The debut on Wednesday of Apple Inc.’s iPad 2 ushers in a thinner, lighter version of a tablet computer that debuted a year ago to considerable fanfare both generally and in the payments business. Like its sister product, the iPhone, the iPad won adoption by some merchants looking for ways …
Read More »Petroleum Sales, Security Upgrades, Services Help Buoy Results for VeriFone
Supposedly mature North America lately is sporting growth rates befitting a green-field market for leading point-of-sale terminal maker VeriFone Systems Inc. VeriFone, which is moving ahead with plans to buy rival Hypercom Corp., late Tuesday reported that North American revenues increased 43% in its first fiscal 2011 quarter ended Jan. …
Read More »Cumbersome Paperwork Rule Will Go Away in April for Visa Fraud Chargebacks
Continuing a chargeback-streamlining process that began back in 2004, Visa Inc. in April will no longer require card issuers to obtain signed paper documentation in disputes involving transactions the cardholder claims are fraudulent. Instead, issuers may submit the required documentation electronically. Visa is not mandating that issuers eliminate signed documentation, …
Read More »Moneris and Merchants Reach a Deal That Could Keep Canada’s Voluntary Code Voluntary
A small-business trade group and Canada’s leading merchant acquirer reached a deal on Thursday that seemingly ends a dispute that, had it continued on its original course, might have transformed Canada’s seemingly voluntary code of conduct for payments companies into a mandatory one. At issue was a Dec. 30 letter …
Read More »How Parking Payments Are Going High-Tech
The prospect of combining on one contactless card payments for parking and transit fares would seem like a winner for hundreds of thousands of commuters who drive each morning to transit parking lots and then hop on a train or bus to the office. That was one idea floated last …
Read More »As the Curtain Falls, Durbin Comments to the Fed Show a Sharp Divide
Tuesday is the final day for commentators to submit their opinions to the Federal Reserve Board about the board’s proposed rules to implement the interchange regulations and other debit card provisions of the Dodd-Frank financial-reform law’s Durbin Amendment. Samples from the approximately 2,700 comments that have rolled in over the …
Read More »With Signed Merchants Onboard, Isis Looks at Transit, Fast Food, Groceries
The new Isis mobile-payments venture has recruited some merchants as it builds the acceptance side of its network, the Isis executive overseeing the merchant effort said on Wednesday. “We do have signed merchants at this point,” Jim Stapleton, head of sales and account management at Isis and a veteran of …
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