News

November, 2019

• 6 November

  Phishing Attacks Are Booming Even as They Are Getting Harder to Detect

  

  Fueled by such scams as business email compromise, phishing frauds are staging a dramatic comeback. The total number of attacks reached 266,387 in the third quarter, according to the latest report from the Anti-Phishing Working Group, a security-industry organization that tracks the crime. That’s the highest level of phishing activity …
• 6 November

  20 European Banks Challenging Card Networks and other Digital Transactions News briefs from 11/6/19

  

  Twenty European banks are working on setting up a pan-European payment system to challenge Visa, Mastercard and technology companies such as Google and PayPal, according to press reports. The project is code-named PEPSI, for Pan European Payment System Initiative.In a development that signals an opening in China’s long-protected payments environment, Chinese mobile-payment giants …
• 5 November

  Grocer Save A Lot Adds In-Store Cash Acceptance for Amazon PayCode Purchases

  

  Consumers that want to pay cash for their Amazon.com Inc. purchases now have another option in the St. Louis area. Save A Lot launched the ability for consumers to use Amazon PayCode, the e-retailer’s cash-payment service, at several Save A Lot locations in the grocer’s hometown. It expects to expand …
• 5 November

  With A Big Worldpay Integration on Its Plate, FIS Is Likely to Look to ‘Tuck-in’ Deals, CEO Says

  Having just swallowed the massive processor Worldpay Inc., Fidelity National Information Services Inc. will stay on the sidelines for a while when it comes to any more major acquisitions, its chief executive said Tuesday. Meanwhile, the combined company’s update indicated it is now on track to deliver more than $1 …
• 5 November

  Fairness Hearing Coming Up in the Massive Credit Card Interchange Court Case

  

  A federal judge is scheduled to hear arguments Thursday on whether a proposed settlement worth up to $6.24 billion in damages to card-accepting merchants is fair.  The hearing in U.S. District Court in Brooklyn, N.Y., is expected to draw a roomful of lawyers for defendants Visa Inc., Mastercard Inc. and …
• 5 November

  Investor Targets USAT and other Digital Transactions New briefs from 11/5/19

  

  USA Technologies Inc. issued a statement opposing a move by Hudson Executive Capital LP, the vending-machine payments provider’s largest shareholder, to gain control of the company in the wake of long-running accounting problems that were recently resolved. Hudson’s plan includes the nomination of eight director candidates for election at the company’s next annual meeting. …
• 4 November

  Consumer Loyalty to Using Credit Cards May Be Swayed by Digital Alternatives

  

  Digital wallets and other forms of digitized payments may be poised to take over the most-favored position for some consumers. Sixty-six percent of consumers, if offered rewards, discounts, and cash-back incentives similar to those offered by credit cards, would switch to alternative ways to pay, finds the 2019 edition of …
• 4 November

  In Its Latest Gambit, Samsung Pay Enlists Curve’s All-in-One Card App

  

  Samsung Electronics Co. Ltd. has been seeking lately to differentiate its 4-year-old Samsung Pay mobile payments service, and on Monday came its latest gambit: an integration with Curve 1 LTD, a London-based startup that allows cardholders to consolidate all of their Mastercard and Visa cards into a single card or …
• 4 November

  Discover Contactless Cards Coming and other Digital Transactions News briefs from 11/4/19

  

  Discover Financial Services said it will begin issuing contactless cards over the next several months, starting first this month with holders of Discover it and Discover More cards who need cards reissued or replaced. New cardholders will get contactless cards beginning in December.ACI Worldwide expanded its long-term relationship with ATM network operator …
• 1 November

  Western Union and MoneyGram Report Digital Growth, but Falling Revenues

  

  The big wire-transfer providers The Western Union Co. and MoneyGram International Inc. continue to develop their digital services as their agent-based business models struggle in a fast-changing market against rising online players. The two firms on Thursday both reported declining revenues in the third quarter, but Western Union made money …