Debit Cards

On the heels of a robust holiday shopping season come some sobering statistics. The recently released 2018 “True Cost of Fraud” study by LexisNexis Risk Solutions shows a 35% increase in fraud for midsize to large e-retailers over 2017. In the retail sector, the monthly average of fraudulent transactions jumped to 306 from …

For years, banking and payments veterans have dismissed cryptocurrencies like Bitcoin but at the same time have shown interest in the digital currencies’ underlying technology, the blockchain. Now one of the world’s biggest banking titans is testing its own blockchain-based token, but its restriction of the system to its own …

New Jersey’s legislature this month passed a bill requiring merchants to accept cash at the point of sale, and several big cities, including New York, are considering similar measures. But does cash really need legal protection from payment cards and mobile wallets? That’s the question public officials as well as …

Hamburger chain The Wendy’s Co. announced a $50 million settlement of class-action lawsuits filed against it after a data breach that began in 2015. The 7,500 bank and credit-union plaintiffs alleged the breach was caused by malware that affected point-of-sale systems at more than 1,000 franchised Wendy’s locations. Some 18 …

Cincinnati-based grocery giant The Kroger Co. has launched a proprietary mobile-payments service, Kroger Pay, and an accompanying Kroger Rewards debit card. Kroger Pay, available for iOS and Android mobile devices, is a quick-response code-based mobile-payment service, which also includes digital coupons and personalized offers. Kroger Pay, like some other retailer-backed mobile-payments services, …

The number of U.S. merchant locations accepting EMV chip cards grew nearly 15% in 2018 while EMV payment transactions rose 27%, according to new data from Visa Inc.  In its latest report on the conversion of U.S. general-purpose payment cards from magnetic stripes to EMV chips, Visa says 3.1 million …

JPMorgan Chase & Co. will within a few months begin testing its own cryptocurrency for wholesale payments between corporations and banks globally, according to CNBC. The new token, called JPM Coin, will be exchangeable at the rate of $1 each. The development may surprise some observers, given the harsh criticism …

Ingenico Group’s business generated through North American banks and merchant acquirers had a difficult 2018, the company reported Tuesday. Full-year revenues from North America within the Paris-based point-of-sale terminal maker and payment processor’s Banks & Acquirers segment declined 9% year-over-year on a constant-currency comparable basis and 13% as reported to …

Grocer The Kroger Co. launched Kroger Pay and the Kroger Rewards debit card. Kroger Pay, available for iOS and Android mobile devices, is a Quick Response code-based mobile-payment service, which also includes digital coupons and personalized offers. Currently, Kroger Pay is available in Columbus, Ohio, with plans for nationwide expansion …

While global card expenditures will increase 80% to $45 trillion by 2023 from $25 trillion in 2017, growth in the United States will be slow compared to other regions because the U.S. is already a well-developed market, says RBR Research in its “Global Payment Cards Data and Forecasts to 2023” …