Digital Transactions Authoritative, insightful and timely information for payments professionals
By John Stewart These days, the airline and air-travel industry finds itself squeezed between two imperatives that have come into sharp focus in recent months. With high average tickets, airlines must guard against fraud at a time when the spread of EMV chip cards is pushing more criminals into …
Read More »Squeezed by Competitors And Finances, Jumio Sees a Savior in Facebook’s Co-Founder
Online and mobile-authentication technology provider Jumio Inc. filed for bankruptcy protection and put itself up for sale Monday, but the Palo Alto, Calif.-based firm expects to live on thanks to support from Facebook co-founder Eduardo Saverin. Saverin, an early equity investor who has injected at least $23 million into Jumio …
Read More »Semi-Integrated POS Products Could Reduce EMV Certification Costs and Save Time
Independent software vendors, value-added resellers, and point-of-sale software developers facing the daunting task of certifying their unique products for EMV payment acceptance may face costs starting at $30,000. That figure, which comes from Andrey Tikhonov, senior director of payment technology at Elk Grove Village, Ill.-based Infinite Peripherals Inc., reflects the …
Read More »It’ll Be 14 Years Before Mobile Payments Are Secure To Leave Cash And Cards at Home
The prospect of leaving the house with just a smart phone in lieu of a wallet full of cash and payment cards is 14 years away, according to a survey released Thursday by the Institute of Electrical and Electronics Engineers (IEEE), a technology association based in New York City. By …
Read More »Venmo Blogs About Security Policies After Keywords Trigger Transaction Delays
PayPal Holdings Inc.’s popular Venmo person-to-person payments service posted a review of the company’s anti-money-laundering and related security policies Sunday in the wake of transaction reviews triggered by certain keywords in Venmo messages that have slowed down the payments process. “There has been recent discussion around specific keywords associated with …
Read More »Gift Card Provider SVM Buys 1to1 Card and other Digital Transactions News briefs
• In-store mobile payments made with wallets enabled with near-field communication will total nearly $240 billion worldwide by 2021 as mobile-wallet competition intensifies and the contactless-payment infrastructure matures, predicts researcher Strategy Analytics. • Closed-loop gift card provider SVM LP acquired 1to1 Card, a prepaid card management-services firm for incentive, loyalty and …
Read More »Retail Duo Hits Networks, Banks, and EMVCo With Chargeback Suit, Seeks Class Status
The liability shift by which merchants not prepared to accept EMV chip cards now must bear responsibility for counterfeit card fraud has given rise to a federal antitrust lawsuit seeking class-action status for merchants. The 47-page complaint, filed Tuesday in U.S. District Court for the Northern District of California, comes …
Read More »CardFlight’s Stripe Integration Deal Aimed at Developers of In-App, Card-Present Payments
With an eye to easing the integration of EMV payment acceptance in mobile apps used for card-present transactions, mobile point-of-sale provider CardFlight now offers integration with Stripe, a payments provider specializing in online transactions. Developers can use the CardFlight software development kit and gateway to add EMV acceptance to apps …
Read More »Eye on Security: Fighting Online Fraud With Emerging Twists on Device Authentication
There’s nothing new about identifying e-commerce customers through the device they use, but now the proliferation of mobile devices has data scientists hatching new ways to thwart fraudsters. One way authenticates users through not-so-obvious links between the many devices they may rely on day-to-day. The other takes a close look …
Read More »Kroger Faces EMV Chargebacks and Other Digital Transactions News briefs
• On Track Innovations Ltd. launched its “My Chip Buddy” marketing effort to support the company’s newly introduced PayEnable platform, which allows manufacturers and designers to build payments capability into their products using near-field communication (NFC) technology. • Grocer The Kroger Co. says chargebacks related to its EMV rollout contributed …
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