Digital Transactions Authoritative, insightful and timely information for payments professionals
By Jim Daly@DTPaymentNews North America remains by far the source of most data breaches investigated by Trustwave Holdings Inc., a big security-services and technology provider that operates worldwide, and the retail industry takes the lead in breaches despite the coming of EMV chip card payments to the U.S. Those are …
June, 2017
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20 June
Eyeing Hotter P2P Competition, PayPal Enables Instant Transfers to Users’ Bank Accounts
By John Stewart@DTPaymentNews PayPal Holdings Inc. on Tuesday cranked up the heat on a person-to-person payments market that’s already close to full boil. In a blog post on PayPal’s site, PayPal chief operating officer Bill Ready announced the company has started testing instant transfers from users’ PayPal wallets to their …
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19 June
COMMENTARY: Is Open Banking the Beginning of the End for Payment Networks?
By Rick Oglesby and Brad Margol A 2015 European Parliament regulation, EU2015/751, caps the fees that a European cardholder’s bank may charge a merchant’s bank (interchange fees) at 0.2% for debit cards and 0.3% for credit cards. Also passed in 2015, and ramping up to full effect in January of …
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19 June
With Its Deal for Whole Foods, Amazon Could Usher in Seismic Change for the Checkout
By John Stewart @DTPaymentNews If Amazon.com Inc.’s $13.7 billion acquisition of Whole Foods Market Inc. closes later this year as expected, it could set the stage for a radical redefinition not just of in-store payments, but of the checkout experience itself, observers say. The deal, which Amazon announced late last …
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19 June
Chargebacks Tied to EMV Transition and other Digital Transactions News briefs
• PNC Bank N.A. said its Visa commercial cardholders can use their cards in Apple Pay and Samsung Pay, a move that PNC said makes it one of the first U.S. banks to enable mobile wallet payments for its commercial cards. • A survey from Vesta Corp. found that 62% of 155 …
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19 June
Apple Makes an Offers Ploy To Drive Apple Pay Use
By Kevin Woodward@DTPaymentNews Apple Inc. is sponsoring its first known offers promotion for Apple Pay users with deals available June 23-25 in two San Francisco neighborhoods. Dubbed “Lose your wallet” on Apple’s Web site, the promotion includes a percentage off the purchase or a free item with a purchase. The …
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18 June
MOBILE ORDERING: CASHING IN ON CONVENIENCE
It’s no secret that smartphones and other mobile devices are changing every aspect of our lives – not only how we connect with each other digitally, but even how we buy products offline. This creates opportunities for savvy merchants – and the payments agents that serve them. Today, consumers …
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16 June
As SIM-Swapping Fuels Account Takeovers, Payfone Patents Tech to Fight It
Consumers may not realize it, but their mobile phone is a gateway for criminals to take over their bank accounts. In a fast-growing scam known as SIM swapping, criminals transfer the phone number associated with a consumer’s mobile phone to the SIM card embedded in a mobile phone in their …
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16 June
CFPB Considers Another Prepaid Rule Delay and other Digital Transactions News briefs
• The Consumer Financial Protection Bureau has issued a proposal adjusting certain provisions of its massive rule for prepaid accounts and asking for comment on whether the effective date for the rule should be delayed a second time. The proposed adjustments concern requirements for error resolution on unregistered accounts and wider flexibility for credit …
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15 June
Amazon’s New Prime Reload Service Could Crimp Card Issuers in Two Ways
By Peter Lucas @DTPaymentNews With the launch of its Prime Reload rewards service, Amazon.com Inc. has positioned itself to deal a serious blow to bank card issuers’ revenues earned from interchange on Amazon.com purchases, and limit the visibility banks have into their cardholders’ behavior on the e-commerce giant’s Web site. …
