News

March, 2018

• 26 March

  For TCF, It’s Full Speed Ahead With Contactless Payments

  

  With about 18 months of experience with contactless debit cards under its belt, TCF Financial Corp. says it’s all-in for so-called dual-interface cards and mobile payments as the number of U.S. merchant locations accepting contactless payments continues to grow. The Wayzata, Minn.-based company’s TCF Bank began supporting the major mobile …
• 23 March

  A Scan of 35 Popular Crypto Exchanges Exposes Some Alarmingly Weak Password Policies

  

  With digital currencies booming in popularity over the past year or so, the security of the digital exchanges that convert users’ fiat money into cryptocurrencies like Bitcoin is coming into clearer focus—and the picture isn’t consistently pretty, according to a survey released this week. Some popular exchanges allow users to …
• 23 March

  How Tweaks to Visa’s Chargeback Program Are Expected To Speed Up Resolutions

  

  Visa Inc. is altering its chargeback-resolution program to condense the reason codes into four categories, amend the time to resolve a disputed transaction, and make other changes. According to data on a Chase Paymentech site, the changes are set to go into effect April 15 because the card brand wants to …
• 23 March

  Square’s Coffee Perk and other Digital Transactions News briefs from 3-23-18

  

  Square Inc. is testing a program that gives consumers $1 off purchases at coffee shops when they pay with Square Cash, MarketWatch reported. Payout provider Hyperwallet announced that tilr, a recruiting platform, is using Hyperwallet for payouts to its clients. Candex, a business-services payments provider for purchases of under $100,000, …
• 22 March

  COMMENTARY: Why Kiosks Are Becoming Must-Have Technology in the Retail Space

  

  Kiosks, and the technology that supports them, are hardly new. We’ve been using kiosks to check in at the airport and print out a wedding registry at our local home-goods store for years. But today, kiosks are moving into fast-food restaurants, rental-car stores, drugstores, malls, and everywhere in between. In …
• 22 March

  Eye on E-Commerce Fraud: CyberSource And Worldpay Harness Machine Learning And Big Data

  

  Machine learning and huge swaths of data are being enlisted in the battle to counter online fraud, with CyberSource announcing an enhancement to its fraud-prevention service and processor Worldpay Inc. launching a new fraud-prevention service Wednesday at MRC 2018, the annual conference held by the Merchant Risk Council. CyberSource, a …
• 22 March

  ACI’s UnionPay Deal and other Digital Transactions News briefs from 3-22-18

  

  NCR Corp. announced that chairman and CEO Bill Nuti will step down for health reasons after its board of directors completes a search for his replacement “in the next couple of months.” Nuti then will serve as chairman emeritus and a consultant to the ATM and point-of-sale payment technology provider. …
• 21 March

  Orbitz Breach Exposes Risks to Partners, and the Vulnerabilities of Older Technology

  

  Another day, another data breach. But each one has lessons for the payments industry, and that includes the breach disclosed Tuesday by online travel-services provider Expedia Inc.’s Orbitz subsidiary. Hackers accessed one of Orbitz’s older systems and thereby may have exposed 880,000 payment card numbers on file, according to press …
• 21 March

  A Double-Digit Growth Rate in Wearables Sharpens the Focus for Their Payments Potential

  

  With the introduction of transactional capability on smart watches and fitness trackers like the Apple Watch and Fitbit, the payments industry has eyed wearable devices as a field laden with potential for growth. Just how much growth came into focus this week with new figures and projections from International Data …
• 21 March

  Boston’s New Fare System and other Digital Transactions News briefs from 3-21-18

  

  The Electronic Transactions Association announced its inaugural group of “Forty Under 40” up-and-coming payments-industry leaders. Cubic Corp. said its Cubic Transportation Systems unit and John Laing, a builder of mass-transit infrastructure, came to terms with the Massachusetts Bay Transportation Authority to build and operate a new fare-payment system, including contactless bank card payments through …