Digital Transactions Authoritative, insightful and timely information for payments professionals
After alerting the investment community in July that it intended to file for an initial public offering of stock, merchant processor Square Inc. on Wednesday finally went public with its plans. San Francisco-based Square, which first made a name for itself by providing mobile-payment services to tiny businesses and individual …
Read More »VeriFone Snaps Up Curb, a Taxi-Hailing and Payments App
VeriFone Systems Inc. reported Tuesday that it bought Curb, a taxi-hailing service that offers consumers an electronic hailing app. The move boosts San Jose, Calif.-based VeriFone’s involvement in taxis, which started almost 10 years ago, and complements Way2ride, a taxi-payment service VeriFone launched in 2013 to provide. The Curb …
Read More »The ABA Says the FBI Was ‘Receptive To Getting It Right’ About PINs and EMV Cards
The American Bankers Association seems to have persuaded the Federal Bureau of Investigation to do something the Bureau rarely ever does, at least in public: change its mind. The FBI’s original position was the consumers should enter a personal identification number whenever possible when using their new EMV chip cards. …
Read More »With NFC Finally Getting a Foothold, More Uses Could Mean More Payments, Experts Say
Finding more ways to incorporate near-field communication (NFC) technology into everyday objects could eventually mean more payments. At least that’s the future as envisioned by panelists at the NFC Solutions Summit this week in Phoenix. Sponsored by the Smart Card Alliance, the conference examined ways NFC technology, which enables wireless …
Read More »Universal Offers Standards, Digital IDs Needed To Drive Wider Mobile-Wallet Adoption
Consumer confusion, lack of standards for offers, and splintered merchant acceptance continue to impede mobile-wallet adoption among consumers, but they are not expected to thwart the long-term prospects for the payments model, suggested panelists on Wednesday at the NFC Solutions Summit in Phoenix. Near-field communication (NFC) technology not only can …
Read More »Tokenization’s Fast Rise Will Likely Attract Rivals for the Big Three Networks, Report Says
By John Stewart Just within the past year or so, tokenization has assumed a central role in digital payments, and in that business three major card networks are the dominant—indeed, only—players performing a crucial function known as the token service provider. But this new form of payment processing is moving …
Read More »At Its Innovation Center, Visa Puts an In-Store Self-Checkout App to the Test
Visa Inc. is providing emerging self-checkout provider Digital Retail Apps another venue to showcase its smart phone-based service by enabling it at the Visa Innovation Center, its technology lab in San Francisco. Toronto-based Digital Retail Apps says Visa will integrate the SelfPay technology into the Visa Everywhere Shop app, enabling …
Read More »Moovweb Hopes Improving the Mobile Checkout Process Will Boost Payments Growth
Retailers’ increasing attention to making the checkout process a smooth and speedy one could potentially enhance the volume of mobile-commerce payments. One vendor trying to reform the checkout process is Moovweb, a San Francisco-based e-commerce platform provider. On Monday, it launched MoovCheckout, a service that helps retailers better manage their …
Read More »ATM Surcharges and Foreign Fees Are Up 4% to New Records, Bankrate Survey Finds
ATM surcharges rose 4% to an average of $2.88 this year from $2.77 in 2014, while foreign fees increased 3.8% to $1.64 from last year’s $1.58, Bankrate Inc. found in its latest annual study of checking account fees. Together, the two fees total $4.52, another new record and up 3.9% …
Read More »First Data Launches Its IPO With an Offering That Could Value Processor at $17.6 Billion
By John Stewart Payments-processing titan First Data Corp. on Thursday launched its long-awaited effort to go public with an initial offering of stock that would value the company at as much as $17.6 billion and raise as much as $3.2 billion. The IPO could well be the largest seen on …
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