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The PCI Securities Standards Council said Wednesday that the next iteration of the Payment Card Industry data-security standard will be coming in the first half of this year, probably in March or April, about six months earlier than called for in the current update cycle. The new version, dubbed PCI …
Read More »Payments Execs Already Foresee the Store Checkout Yielding to ‘Uberesque Approach’
While mobile wallets, near-field communication, and EMV have focused all eyes in the payments industry on the physical point of sale, some mobile-payments executives are starting to prepare for what they see as the fading away of the traditional checkout counter. Technology already exists that allows customers to order ahead …
Read More »Universal Card Coin Faces a Lawsuit Over Alleged Misrepresentations
The prospect of ubiquitous merchant acceptance and the ability to carry just one card in lieu of several was too much of a promise, alleges a lawsuit filed last week against Coin Inc., a startup offering a universal card service. Filed on behalf of two consumers who each purchased a …
Read More »Eye on Fraud: EMV Spurs Fraud Increase, Says Javelin; Landry’s Reports a POS System Breach
A new report finds that fraud activity is surging, while Landry’s Inc. says it has uncovered malware on its point-of-sale system and removed it. Identify fraud is on the rise, finds the 2016 Identity Fraud Study released Tuesday by Javelin Strategy & Research. The Pleasanton, Calif.-based research firm found that …
Read More »MasterCard Posts Growth for Fourth Quarter And 2015 U.S. Purchase Volume And Cards
MasterCard Inc. on Friday said purchase volume made with its U.S.-issued credit and debit cards grew by 8.7% in the fourth quarter and 7.7% for all of 2015, compared with the same periods a year ago. MasterCard also said the number of U.S.-issued credit and debit cards increased. In the …
Read More »More Mobile Payments This Year Will Likely Mean More Fraud Potential, FICO Warns
To the extent there is greater mobile-payments use among merchants and consumers this year, that increase will likely bring with it a greater potential for fraud. That’s the cautionary note from Fair Isaac Corp. executive T.J. Horan, vice president of fraud solutions at the analytics-software company. In-store mobile payments will …
Read More »Flywire’s Deal to Buy Canada’s ScholarFX Adds to Its Growing Niche in Tuition Payments
It’s often neglected in the payments business, but one of the fastest-growing markets is processing cross-border transactions for college and post-graduate students studying abroad. The business is dominated by wire transfers, but a startup called Flywire, which has served the market for more than four years, is enjoying fast growth. …
Read More »Eye on the POS: VeriFone Snags AJB, Ingenico’s U.S. Growth, HP’s Retail Thrust
With the National Retail Federation’s annual trade show kicking off Monday in New York City, a number of payments companies tried to get a head start on the show by releasing news over the weekend. Much of it concerns developments for the physical point of sale. Here’s a wrap-up of …
Read More »Cash Still Dominates in Many Merchant Sectors, ATM Network’s Survey Shows
In this age of mobile payments, online commerce, and millions of places to use plastic payment cards, cash remains highly relevant and popular with consumers, the nation’s leading retailer ATM network insists. Houston-based Cardtronics Inc. on Thursday released results of a survey showing that consumers use cash far more than …
Read More »After a Boffo Year, Will Payments Startups Reap Another Big Funding Harvest in 2016?
It may have been a so-so year for initial public offerings in payments, but 2015 was a boffo year for private financing of payments startups. And early indications are that 2016 may be just as good. Through Nov. 10, there were 235 funding deals for payments companies worldwide, with investments …
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