News

June, 2020

• 26 June

  COMMENTARY: Nine Ways Gas And Convenience Retailers Can Cut Their Fraud Risk

  

  All card schemes are now on board with the new deadline for the U.S. EMV liability shift in April 2021. So, the time to upgrade—if you haven’t—is now.  Adding EMV chip readers both inside a store and at automated fuel dispensers (AFDs) isn’t intended to be a hardship for gas …
• 25 June

  Paysafe Names New Acquiring And E-Commerce Heads As Payments Veteran Rawls Retires

  

  Paysafe Group on Thursday capped a recent restructuring of its payment-processing unit with the appointment of a chief executive for the unit’s U.S. acquiring division. Afshin Yazdian on July 1 will take over the division, one of two businesses formed with the splitting of the company’s payment-processing unit. Paysafe also …
• 25 June

  Wirecard Turns to Insolvency Action and other Digital Transactions News briefs from 6/25/20

  

  German payments provider Wirecard, which entered the U.S. market in 2016, filed for insolvency, it announced Thursday, following the disclosure last week of more than $2 billion in disputed cash. It is evaluating whether insolvency will be filed for its subsidiaries.In an update, Mastercard Inc. reported its switched transaction volume recorded a 1% increase in the …
• 24 June

  USA Technologies Is ‘Re-energized And Digging in,’ New CEO Says

  

  The new regime at unattended-payments provider USA Technologies Inc. is now in place after a proxy fight that deposed the old management team and board of directors, and it’s looking for growth from underexploited opportunities and cost-cutting. “With the uncertainties of the proxy contest now behind us combined with a …
• 24 June

  Shift4 Launches QR Pay as an Alternative to Contactless Payments Via NFC

  

  Payments companies have been working for months against a backdrop of consumer fears induced by the new coronavirus, and on Wednesday Shift4 Payments Inc. launched a contactless-payment capability with a twist: it relies on Quick Response codes rather than the much more common near-field communication technology found in major-brand credit …
• 24 June

  7-Eleven Launches a Fuel Loyalty And Payments Program While Its Mobile Checkout Arrives in Utah

  

  7-Eleven Inc. is testing a fuel loyalty program that also provides a contactless payment option with Siri functionality for iPhone users. The convenience-store chain also is expanding its mobile checkout capability through its app to Utah locations. Irving, Texas-based 7-Eleven is testing the fuel loyalty service in Orlando, Fla., northern …
• 24 June

  Amadis Announces EMV Tool for Petroleum and other Digital Transactions News briefs from 6/24/20

  

  Amadis, a payment software provider, announced an EMV migration product for petroleum and convenience stores. In conjunction with Advanced Mobile Payment Inc. and Texas Engineering Consulting Systems and Services, Amadis developed a proprietary Android-based contactless pay-at-the-pump product that decouples the fuel pump dispenser from the point-of-sale system, enabling payment authorization to take …
• 23 June

  Feeling Heat, Square Explains Its New Reserve Policy

  

  Facing criticism for withholding as much as 30% of some small merchants’ payment volume, merchant processor and business software provider Square Inc. on Tuesday posted an explanation of its new reserve policy. “Out of our millions of sellers, fewer than 0.3% have reserves on their accounts, but given increased interest, …
• 23 June

  With an $825-Million Deal for Finicity, Mastercard Picks up Open-Banking Tech for POS Credit

  

  Mastercard Inc.’s $825-million deal for Finicity Corp., announced Tuesday, may be aimed at ensuring a strong position in burgeoning markets like point-of-sale credit, but it could also prove handy as consumers struggle with the financial fallout of the coronavirus pandemic, observers say. The acquisition, which Mastercard says should close by …
• 23 June

  Visa Notes 1 Billion Tokens and other Digital Transactions News briefs from 6/23/20

  

  Visa Inc. said its Visa Token Service has now issued more than 1 billion tokens globally, with more than 680 million tokens issued in the past 12 months. Tokens replace Visa account numbers with data strings that are useless if stolen.Authentication services provider Giact released its “The Changing Landscape of Identity Fraud: Fraudsters Strike …