Featured

May, 2022

• 4 May

  Behind The Clearing House’s Effort to Bring Tokenization to Its Real Time And ACH Services

  

  Against a background of emerging real-time payments and steady growth in automated clearing house transactions, The Clearing House Payments Co. LLC is working to mask those transfers with a technology the payment card business has used for years—tokenization. The job is enormous. “We’re just starting—it’s going to take time,” says …

April, 2022

• 25 April

  Apple’s Switch to Visa for Its Virtual Cash Card Could Come Down to International Connections

  

  Apple Inc. is switching its network affiliation for its Apple Pay Cash virtual debit card to Visa Inc. after more than four years of issuing the card on the Discover Network. Information about the rationale for the move was not immediately available as the news emerged late last week on …
• 21 April

  Another Arena Adopts Digital Payments As the MLB Nationals Work With FIS-Worldpay

  

  The competition to bring digital-payments capability to sports arenas is getting hotter. FIS Inc. announced early Thursday its Worldpay unit is exclusively processing payments for tickets, concessions, and merchandise at Washington D.C.’s Nationals Park, home of the city’s Nationals Major League Baseball team. As part of the deal, Jacksonville, Fla.-based …
• 13 April

  The Absence of Interest Charges Is What Tweaks Consumer Interest in BNPL Services

  

  The buy now, pay later trend continues to solidify into a permanent part of the payments arena, thanks to consumers who readily adopt the installment-payment service. Now, new research finds that many—82%—are drawn to it because they do not have to pay interest for the installment-payment benefit. New research from …
• 11 April

  There’s More to Lose in Not Offering BNPL Than in Offering It, Providers Warn

  

  The buy now, pay later trend may have come under scrutiny lately by regulators, but companies enabling BNPL warn sellers and payments providers risk losing merchant volume and younger consumers if they don’t offer the installment option online and at the point of sale. “You’ll see volume attrition without merchant …
• 7 April

  Adyen Poised To Offer Tap to Pay on iPhone To U.S. Merchants

  Processor Adyen NV is poised to be among the first to offer Apple Inc.’s Tap to Pay on iPhone service to U.S. merchants. Sometime later this year the service will launch, enabling compatible iPhones to accept contactless payments without the use of additional hardware or payment terminals. Announced in February …
• 4 April

  The PCI Security Standards Council Launches the Latest Version of Its Security Standard

  

  After years of soliciting input from more than 200 organizations in the payments industry, the PCI Security Standards Council Thursday published version 4.0 of the PCI Data Security Standard (PCI DSS). The new standard, which provides a baseline of technical and operational requirements designed to protect account data, replaces version …

March, 2022

• 30 March

  Losses From Stolen Identities Skyrocketed 79% to $24 Billion in 2021, a Javelin Study Finds

  

  Payments providers are increasingly resuming business-as-usual as the pandemic eases, but so are criminals. Losses from identity-fraud schemes, in which fraudsters use stolen payment credentials for their own gain, soared 79% last year to $24 billion, according to a study released Tuesday by Javelin Strategy & Research. Moreover, this so-called …
• 23 March

  Mastercard Announces Account-to-Account Payment Tools Based on Open-Banking Assets

  

  Mastercard Inc. early Wednesday said it will launch two new payments tools that rely on the card network’s rapidly growing stake in open banking and account-to-account transactions. The new digital tools, which Mastercard says will not be available until later this year, are expected to address risk and uncertainty in …
• 21 March

  Fiserv and MX Pair Up for Expanded Open Banking

  

  The fast-growing field of open banking got another boost Monday when the big payment processor Fiserv Inc. announced a major industry player, MX Technologies Inc., will use its AllData Connect service. AllData Connect is part of Fiserv’s AllData Aggregation platform that provides consumer-permitted access to tokenized financial account and transaction …