Digital Transactions Authoritative, insightful and timely information for payments professionals
Some 97% of Visa Inc.’s total U.S. payment volume stemmed from EMV chip cards in March, according to the card network’s latest periodic report on EMV’s progress in the United States. EMV volume totaled $70.7 billion, up from $4.8 billion in September 2015, the last full month before the country …
May, 2018
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21 May
Credit Unions Hold the Line on ATM Fees, Bankrate Study Finds
Bankrate LLC’s latest study of checking account pricing at credit unions found that ATM surcharges and foreign fees haven’t changed much in the past year. The April study of the top 50 credit unions by deposits revealed that ATM surcharges—fees charged by ATM owners to non-customers who use their machines—actually …
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21 May
Worldpay Shoots to Top U.S. Merchant Acquirer Spot As Integrated Software Model Takes Over
What do you get when you add 4 and 11? In the case of Worldpay Inc., it’s 1. The merged version of the former Vantiv Inc. and Worldpay plc moved to the number-one position in The Strawhecker Group’s annual directory of U.S. merchant acquirers. Released Monday, the directory ranks industry …
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21 May
COMMENTARY: Here’s How the Big Card Networks Can Make Their Common Buy Button a Winner
The digital payments innovators used to be Mastercard and Visa, but with the rise of PayPal, it’s been a new game. Then along came Alipay and Apple Pay and many other local or specialized payment methods, making the playing field even more competitive for these card payment platforms. Visa Checkout …
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21 May
Plastic Preferred for Vacations and other Digital Transactions News briefs from 5/21/18
Payments industry veteran Dan Henry has been named chairman of 3PEA International Inc., a prepaid card program manager. President and chief executive Mark Newcomer, who co-founded the company and has served as chairman since 2006, will become vice chairman. Henry was until recently chief executive of prepaid card specialist NetSpend, …
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18 May
No Time to Lose With The Daunting Task of Securing Payments for the Internet of Things
The proliferation of smart watches, voice commerce, and vehicle-based payments has got merchants abuzz about the potential for making purchases more convenient. But securing these payments is a scattershot affair, with each provider wielding its own protocols, attendees learned at the CNP Expo this week in Orlando, Fla. Payments companies …
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18 May
PCI Council Updates A Standard and other Digital Transactions News briefs from 5/18/18
The PCI Security Standards Council issued what it calls a “minor update” to the current version 3.2 of the Payment Card Industry data-security standard. Version 3.2.1 adds no new requirements and is meant to eliminate any confusion regarding effective dates for existing PCI DSS requirements and Secure Socket Layer (SSL) …
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17 May
PayPal Is Buying Sweden’s iZettle for $2.2 Billion
In its biggest acquisition yet, PayPal Holdings Inc. is buying Stockholm-based payments firm iZettle AB for $2.2 billion. The San Jose, Calif.-based online payments provider late Thursday confirmed an afternoon of rumors about the pending deal. Jacob de Geer, iZettle’s chief executive and co-founder, will stay on after the acquisition’s …
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17 May
Coinstar Adds Amazon.com Option and other Digital Transactions News briefs from 5/17/18
Retail ATM network owner and operator Cardtronics plc said Fifth Third Bank will place its brand on more than 800 Cardtronics ATMs at Speedway LLC convenience stores in Ohio, Indiana, and Kentucky. In related news, Indiana-based German American Bank said it has joined Cardtronics plc’s Allpoint network, giving its customers access …
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17 May
Retailers Amp Up Fraud Prevention for Their Online Gift Card Sales
Selling gift cards online makes a lot of sense for many merchants, but criminals know that, too, and have quickly figured out ways to steal the cards. Now, as merchants have increased their sophistication in countering these thefts, so too have criminals figured ways to foil the merchants. “Gift cards …
