Digital Transactions Authoritative, insightful and timely information for payments professionals
While last weekend’s holiday-shopping extravaganza unleashed a geyser of payment transactions, it also uncorked a flood of potential fraud, data released Thursday show. Online shoppers spent $7.4 billion on Friday alone, with Cyber Monday sales, which by definition are e-commerce transactions, alone estimated to total a record $9.4 billion, up …
December, 2019
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5 December
Divergent Online Security Needs Warrant a New Version of PKI
A new set of security protocols to better safeguard online connections within the financial-services industry is in the offing. Securing and trusting these connections is a critical piece of the payments infrastructure. Experts say the underlying standards they are built on—called public key infrastructure—need updating. That’s why the Accredited Standards …
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5 December
Visa Debuts Dispute-Certification Program and other Digital Transactions News briefs from 12/5/19
Visa Inc. announced plans to launch a new certification program and fund up to 500 scholarships to train individuals as dispute-resolution professionals, a role Visa says is in high demand across the payments industry. The program will include multiple days of training and several professional-level certification exams.Field-service management and communications provider …
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4 December
MoneyGram’s Launch of Visa Direct Overseas Spotlights Visa’s Strategy for Cross-Border Payments
Visa Inc. is working fast to expand its foothold in cross-border remittances, a relatively new market for the card network. On Wednesday, MoneyGram International Inc. announced it is the first remittance service to allow international transfers that rely on Visa Direct, a push-payment service that enables real-time transfers to holders …
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4 December
Security Standard Released for Contactless Payments on Off-the-Shelf Mobile Devices
A new standard unveiled Wednesday by the PCI Security Standards Council could pave the way for more acceptance of contactless payments with no more hardware needed than a merchant’s off-the-shelf mobile phone or tablet. The standard is dubbed Contactless Payments on COTS (commercial off-the shelf devices), or CPoC. It spells …
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4 December
X9 To Reboot PKI and other Digital Transactions News briefs from 12/4/19
The Accredited Standards Committee X9 Inc., which sets standards for financial services, said it has restarted its X9F5 working group, the committee that developed the original standards underpinning public key infrastructure (PKI). The new group will work on new PKI standards that will address needs in the financial-services industry apart from …
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3 December
As Processor Valuations Soar, Shift4 Files for an IPO
Shift4 Payments Inc., one of the nation’s biggest independent sales organizations, announced on Tuesday that it has filed a draft registration statement with the U.S. Securities and Exchange Commission for what it calls a “proposed” public offering. A Shift4 spokesman did not immediately return a call from Digital Transactions News …
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3 December
Eye on E-Commerce: Black Friday Dethrones Cyber Monday as Busiest Online Shopping Day
Formerly distinct holiday spending patterns are blurring, according to new data. The National Retail Federation reported Tuesday that Black Friday, traditionally known for swarms of consumers in stores, for the first time topped Cyber Monday, the Monday after Thanksgiving, for online shopping. And Adobe Inc.’s research unit reported that consumers …
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3 December
Weave Payments Debuts and other Digital Transactions News briefs from 12/3/19
Weave, a provider of management applications and services for small businesses, announced the launch of Weave Payments, a payment-processing platform that includes acceptance of text-to-pay and mobile wallets.Corporate America Credit Union, a financial cooperative for almost 500 credit unions, has agreed to be a funding agent for the Real-Time Payments network …
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2 December
The Fed Plans To Raise Payment-Services Fees by an Average of 2.4% in 2020
Prices for Federal Reserve payment services to depository financial institutions will go up by an average of 2.4% on Jan. 2 under a new fee schedule approved last week by the Federal Reserve Board of Governors. The Fed estimates Check Services customers will see average price increases of 3.3%. Users …
