Digital Transactions Authoritative, insightful and timely information for payments professionals
• Processor Fiserv Inc. said a new scoring model for its Payment Fraud Manager service designed specifically for automated clearing house transactions detected more than 90% of fraud while reviewing only 2% of the transactions in model validation tests. • Payment gateway Network Merchants LLC announced its SwIPe EMV chip …
Read More »When It’s Time To Pay the Rent, Entrata Gets a Better Deal for Visa Debit Card Holders
By Kevin Woodward@DTPaymentNews With more than 3 million renters enrolled in an online rent-payment service, Entrata Inc.’s desire to optimize its payment-card acceptance costs is paramount. That’s why Lehi, Utah-based Entrata is working with Visa Inc. on an improved payment and authorization program for the multifamily-housing industry. Announced Thursday, the …
Read More »Walmart Canada Expands Its Two-Month-Old Visa Credit Card Ban to Manitoba
By Jim Daly@DTPaymentNews The dispute between Wal-Mart Stores Inc. and Visa Inc. over payment card acceptance costs intensified Thursday when the retailer’s Walmart Canada unit announced that it will extend its ban on Visa credit card acceptance from Thunder Bay, Ontario, to its 16 stores in the province of Manitoba. …
Read More »COMMENTARY: What’s Really Happening in the PayPal Deals with Visa and MasterCard
By Rick Oglesby Visa Inc. chief executive officer Charlie Scharf and MasterCard Inc. CEO Ajay Banga must be all smiles these days. PayPal Holdings Inc. CEO Dan Schulman was clearly motivated to make peace with
Read More »Venmo Airs Ads on TV and Online and other Digital Transactions News briefs
• USA Technologies Inc., a provider of wireless payment services for vending machines and other unattended merchant locations, reported $169 million in purchase volume on its 429,000-location network in the fourth quarter of fiscal 2016 ended June 30, up 50% from a year earlier. Transaction volume hit 89 million, up …
Read More »Merchant Groups Fail To Stop House Bill That Threatens the Durbin Amendment
By Jim Daly@DTPaymentNews If you think the upcoming 2016 elections are only about The Donald versus Hillary, think again. A bill in the House of Representatives that would significantly alter the controversial Dodd-Frank Act and repeal its contentious Durbin Amendment passed the House Financial Services Committee Tuesday on a 30-26 …
Read More »Elavon’s Tablet POS Service Debuts in Canada and other Digital Transactions News briefs
• MasterCard Inc. issued its latest U.S. EMV progress report; the network says it has 2 million chip-active merchant locations and that 88% of MasterCard consumer credit cards now have chips. • Processor Elavon announced it is launching a tablet-based point-of-sale product in Canada in conjunction with talech, a POS …
Read More »While Hackers Press Their Attack on Payments, CyberSecurity Funding Tails off
By John Stewart @DTPaymentNews The payments industry may be undergoing an unprecedented attack by fraudsters, but funding of cybersecurity startups by top investors will drop somewhat this year compared to 2015, according to the latest data from CBInsights, a New York City-based firm that tracks venture-capital investment. Total cybersecurity funding …
Read More »With a Faster Square Cash, Square Ties Fee-Based P2P to the Faster Payments Trend
By John Stewart @DTPaymentNews For years, payments providers have struggled to make money on person-to-person payments, and now Square Inc. is taking a swing at the problem. Starting now, Square is offering to make instant transfers of Square Cash funds into users’ bank accounts if they pony up a 1% …
Read More »With No Audio Jack on Apple’s Latest iPhone, CardFlight Turns to Bluetooth
By John Stewart @DTPaymentNews Tech companies like Square Inc. made their reputations by rolling out simple card readers that linked to Apple Inc.’s
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