Digital Transactions Authoritative, insightful and timely information for payments professionals
The Coin card, which officially launched last Thursday but is not yet available in the market, is generating a tidal wave of buzz in the press and on social-media sites but is not wowing payments experts contacted by Digital Transactions News. “It’s solving a problem that doesn’t really exist,” says …
Read More »The Fed Seeks Ideas on How To Take the Tail Fins Off of U.S. Electronic Payments
How to improve the U.S. payment system? Figure out a way to make electronic payments faster and more secure, as well as a system that would connect various closed-loop payment networks with hundreds of millions accounts. And reduce regulation, too. Those were some of the ideas bandied about Thursday at …
Read More »Within Five Years, Caps on Credit Card Interchange Are Likely, According to a DTN Poll
With debit card interchange rates already regulated, a majority of respondents to a Digital Transactions News poll consider caps on credit card interchange within five years as very likely. n Though no such legislation is under review at this time, the response suggests few would be surprised should it appear. …
Read More »Survey Revealing Undisclosed Intrusions Indicates Data Breaches Are Under-Reported
The actual number of data breaches taking place in the United States may be much higher than generally understood, if a recent survey of corporate security professionals is any indication. The canvass of some 200 so-called malware analysts working for large and small enterprises revealed that fully 57% have dealt …
Read More »Despite Signs of Progress, Small Merchants Still Lag on Risk Assessment And PCI
Coming on the heels of the release last week by the PCI Security Standards Council of a revised Payment Card Industry data-security standard (PCI) is a report Tuesday that shows how much progress small merchants are making in locking down card data—and how painfully slow much of that progress has …
Read More »The PCI Council Unveils Its ‘User-Friendly’ Version 3.0 of the PCI Security Rules
Better management of passwords and prevention of point-of-sale terminal tampering are just two features of the new Version 3.0 of the Payment Card Industry data-security standard that the PCI Security Standards Council unveiled Thursday. On its surface, Version 3.0 looks much the same as the previous edition, 2.0, which the …
Read More »Insurer Enables Auto Policy Selection and Payment Via its Kiosks
Consumers in Tennessee shopping for car insurance from Direct Auto Insurance have a new option to select a policy and pay for it using the insurer’s Direct on the Spot kiosks. Set up in 18 Direct Auto Insurance locations, the kiosks are designed to broaden the insurer’s reach among …
Read More »Visa, MasterCard Post Big Volume Gains As They Fight for Credit, Debit Card Spend
U.S. bank card purchase volumes rose in the 10% range in the quarter ending Sept. 30, with MasterCard Inc. growing faster than Visa Inc. in debit and Visa gaining faster than MasterCard in credit. MasterCard on Thursday reported total U.S. credit, charge, and debit card purchase volume of $267 billion, …
Read More »Only $36 Billion of $2.1 Trillion Bill-Payment Market Paid Via Mobile Devices
The impact of tablets and smart phones on payments is largely unfelt in bill payment with only $36 billion of the $2.1 trillion in annual bill payments made by these mobile devices, finds a new report from consultancy Javelin Strategy & Research. That equates to about 5% of U.S. consumers. …
Read More »A Crowdfunding Niche Posts $1.5 Million in Daily Volume for PSP WePay
Crowdfunding organizations that work with payment service provider WePay Inc., and have integrated WePay’s application programming interface into their Web sites, are creating $1.5 million in daily payments for the Palo Alto, Calif.-based company. That is three times more than two years ago, WePay says. n WePay, founded in 2008, …
Read More »