Fraud & Security

Citing its potential effects on payments-market competition, the United Kingdom’s Competition and Markets Authority has now ordered an in-depth review of PayPal Holdings Inc.’s acquisition of Sweden-based processor iZettle AB. A PayPal spokesperson told Reuters the company is working with the CMA and plans to demonstrate the market will remain …

Mastercard Inc. and Next Retail Concepts are bringing to retailers a virtual-shopping experience that has shoppable products. The three-dimensional, digital environment, available across any Web browser, enables consumers to view and buy products as if they were in the store. Images are from the store and include products selected by …

Crafting a mobile-payments strategy can be a daunting task. The technology is evolving rapidly, and so are consumer expectations. Rather than starting with capabilities, a successful mobile strategy begins with an understanding of how people engage with their finances as part of their daily lives. Evaluating how consumers use mobile …

FreedomPay announced Nando’s, an international fast-casual restaurant chain, will use FreedomPay’s point-to-point encryption payments platform in its Oracle Micros Simphony POS system installations. Payments provider SpotOn Transact LLC agreed to offer acceptance of Bitcoin and other cryptocurrencies to merchants via a partnership with Vaultbank, a blockchain-technology firm. Kevin Jones, founder …

Friday’s disclosure from hotel giant Marriott International Inc. that hackers compromised information on up to 500 million guests held in its Starwood reservation system raises the question of whether fraudsters will be able to use an unknown quantity of encrypted payment card numbers because they also might have stolen the …

Independent sales organization Gearfire Payments announced new plans to focus on reducing payment costs for the shooting-sports industry. Atom Tickets, a mobile-ticketing service for the movie industry, said it integrated SMG Access, a loyalty program from Studio Movie Grill, an operator of movie theaters featuring in-theater dining. Target Corp. may …

Online and mobile payments get all the press, but plenty of card-not-present payments still originate from telephone orders. The security threats from such orders are changing, which prompted the PCI Security Standards Council to issue an update Wednesday to guidance it first produced seven years ago for protecting phone-based payments. …

Counterfeit fraud losses continue to decline, according to Visa Inc.’s latest report about the U.S. conversion to the EMV chip card standard. But Visa’s EMV dollar volume was lower in September than in June, and the number of merchants that accept chip cards remained unchanged at 3.1 million. Visa says …

More consumers took to their smart phones this past Friday, known as Black Friday, at the expense of shopping online with a desktop computer, finds Akamai Technologies, a Web-services company. Consumers using mobile devices accounted for 57.6% of online shopping on Nov. 23, compared with 35.9% for those using desktop …

Mobile remote deposit capture software provider Mitek Systems Inc. reported that chief financial officer Jeffrey C. Davison, who in August said he would resign effective Nov. 30, has changed his mind and won’t quit. Mitek’s board of directors accepted the rescission. Long-time chief executive Jim DeBello recently left and has …