Digital Transactions Authoritative, insightful and timely information for payments professionals
[Image Credit: Any IP Ltd.] With malicious bots bombarding the Web, tech vendors are adding services to shield banks, retailers, and other firms with data behind login pages from the onslaught. The newest is Cequence ASP from Cequence Security, which the Silicon Valley firm says detects and ends attacks through …
November, 2018
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13 November
Fed Forms Faster Payments Council and other Digital Transactions News briefs from 11/13/18
The Federal Reserve formally announced the creation of the U.S. Faster Payments Council, an industry organization intended to promote the adoption of secure faster-payment systems through industry collaboration and education. The 22 founding members include payment card networks, banks, Walmart Inc., and automated clearing house network governing body NACHA. The group is …
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12 November
JetPay Reports 14% Revenue Increase and other Digital Transactions News briefs from 11/12/18
Addressing doubts among at least some sellers, eBay Inc. seller advocate Jim “Griff” Griffith said sellers “can put [their] consternation aside” regarding the marketplace giant’s new managed-payments program, which will not include traditional eBay payment method PayPal until next year. Online payments provider Stripe Inc. agreed to use Visa Inc.’s push-payment …
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12 November
Fallback Fraud Falls as Card Issuers Ramp Up Their Monitoring
Fallback fraud, an offshoot of the counterfeit fraud that EMV chip cards are meant to reduce, declined over the past year, according to new findings from Auriemma Consulting Group. Fallback fraud refers to fraud resulting from would-be EMV payments resorting to the credit or debit card’s back-up magnetic stripe because …
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9 November
PayFacto Debuts With an Eye on Merchants, Payfacs, and Gateway Services
PayFacto Inc., the new name for a combination of what had been three separate companies, launched with a mission to cultivate merchants with a trio of payments services. Montreal-based PayFacto is the result of combining B2Billing, CT-Payments, and Supreme Payments. Each of the Canadian firms had different specialties that PayFacto …
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9 November
MoneyGram Hit by Government Settlement, Declining Revenues
Shares of wire-transfer provider MoneyGram International Inc. tumbled 29% Friday morning after the company reported declining revenues and a $125 million settlement with the federal government over lax fraud controls at some agent locations. The settlement involves “allegations that the company failed to take steps required under a 2009 Federal …
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9 November
AmEx Scores a Breakthrough in China With a License to Process Domestic Payments
The major U.S. payment card networks have been trying to set up shop to process domestic transactions in mainland China for years, only to encounter government resistance. But American Express Co. announced a breakthrough Friday with a deal to become the first overseas network to win an OK to operate …
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9 November
Most—73%—Will Shop in Stores This Holiday Season and other Digital Transactions News briefs from 11/9/18
A survey of 1,000 U.S. adults found 73% will shop at a store for gifts this holiday season, but 13% will also use a virtual assistant, such as Siri or Alexa. Some 57% will use a computer and 42% a mobile device, according to the poll, conducted by merchant processor …
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8 November
ACI Reports Quarterly Earnings and other Digital Transactions News briefs from 11/8/18
Payment processor Worldpay Inc. said pro-forma net revenues in its Technology Solutions e-commerce segment grew 17% year-over-year to $420 million while pro-forma revenues in its Merchant Solutions segment rose 4% to $506 million. Pro-forma revenues in the Issuer Solutions segment increased 4% to $91 million. Worldpay also promoted Mark Heimbouch …
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7 November
Dorsey Sees Square’s New Terminal Displacing ‘Dinosaur’ Devices on Merchant Countertops
Square Inc. on Wednesday played up its recent launch of an important new hardware product and celebrated what it called its first quarter of profitability under generally accepted accounting principles. While executives did not discuss sales numbers for Square Terminal, a $399 touchscreen-equipped handheld device the San Francisco-based company released …
