News

June, 2017

• 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 …
• 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 …
• 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 …
• 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 …
• 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 …
• 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 …
• 15 June

  Visa, Mastercard Reach Surcharging Settlement in Canada

  

  Canadian merchants that accept Visa Inc. and Mastercard Inc. credit cards soon will be able to add a surcharge to some transactions following a settlement reached this week. The settlement, which stems from a 2011 class-action lawsuit against Visa, Mastercard, and a number of card-issuing banks alleging excessive fees, calls …
• 15 June

  FICO Releases Card Compromise Manager and other Digital Transactions News briefs

  • Cavendish Asset Management, the biggest investor in mobile-banking and payments technology provider Monitise plc, said it will vote against the planned buyout of Monitise by Fiserv Inc. because the U.S. financial-institution processor’s $89 million offer is too low, Reuters reported. • Fair Issac Corp. (FICO) released the FICO Card Compromise Manager, a service …
• 15 June

  Gilbarco Announces the First U.S. EMV Chip Card Transaction From a Fuel Pump

  

  The U.S. conversion to EMV chip card payments took a step forward Thursday when fuel-pump maker Gilbarco Veeder-Root announced what it says is the first EMV chip card transaction from a fuel dispenser. The transaction took place at a 49 Fuels gas station in Burlington, N.C., at an undisclosed time. …
• 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. …