Digital Transactions Authoritative, insightful and timely information for payments professionals
• North American Bancard Holdings Inc. and Total Merchant Services Inc. will retain their unique brands and products in the immediate future following NAB’s acquisition of TMS, said NAB chief executive Marc Gardner. NAB announced the TMS acquisition last week. “The TMS brand will remain intact, its sales staff remains as …
May, 2017
-
26 May
‘Passive’ Biometrics Set To Take an Active Role in Payment Fraud Control
With little fanfare, so-called behavioral biometrics began appearing on the radar screens of payment card security executives about two years ago. Now, however, experts predict behavioral biometrics will assume a more prominent role in protecting payment transactions as e-commerce and mobile commerce continue gaining share of retail sales and the …
-
25 May
Fraud Costs Rise for Merchants, Especially on the International E-Commerce Side
Merchants’ actual fraud costs are up for the third year in a row and their total fraud-related expenses also are rising, according to the latest True Cost of Fraud study from LexisNexis Risk Solutions. Fraud as a percentage of the revenues reported by the 653 retailer risk-control executives surveyed for …
-
25 May
Shift4 Founders Make a Shift and other Digital Transactions News briefs
• Phillips 66 Co. moved closer to the launch of its mobile-payments service for fuel purchases with the unveiling of its mobile-commerce platform developed in conjunction with P97 Networks Inc. and JPMorgan Chase & Co.’s Chase Pay. • Payment gateway Shift4 Corp. announced its cofounders, J. David Oder and Katherine Oder, are entering …
-
24 May
Mobile and Online Risk Control May Need To Go Their Separate Ways
With e-commerce taking an ever-greater share of total retail sales and mobile commerce accounting for an ever-greater share of e-commerce, merchants need to start treating m-commerce fraud control as more than a subset of online fraud control. That was the word Tuesday from Susan Pandy, the director of payment strategies …
-
24 May
Cayan Announces Squirrel Deal and other Digital Transactions News briefs
• Forty-seven states and the District of Columbia reached an $18.5 million settlement with Target Corp. over its 2013 data breach, the Illinois Attorney Generals office announced. The breach affected more than 41 million payment card accounts and the contact information for more than 60 million consumers, the attorney general press release …
-
24 May
Retailer Groups Celebrate as House Republicans Appear to Ditch Durbin Repeal Effort
Two major retailer trade groups late Wednesday celebrated an apparent decision by Republican leaders in the House of Representatives to quash a provision that would have repealed the Durbin Amendment. The provision was part of the Financial Choice Act, a bill Congressional Republicans are pushing to overhaul the 2010 Dodd-Frank …
-
23 May
Investors Pour More Funding Into Cybersecurity Startups As Cyberthieves Ramp up Attacks
As cyber attacks grow more vicious, investors are pouring more money into startups whose technology is aimed at thwarting online thieves. Funding deals for private cybersecurity firms reached 139 in the first quarter, the highest quarterly number recorded over the past five years by CBInsights, a New York City-based research …
-
23 May
Eye on Cross-Border Payments: A Borderless Account; BlueSnap Teams With FedEx
TransferWise started out as an upstart processor enabling international remittances, but now it’s expanding into a much bigger arena. On Tuesday, it announced the availability of virtual accounts that let small businesses pay and receive payments internationally as if they had a local account. The service, called Borderless Account, covers …
-
23 May
USAA Solicits Other Financial Institutions To License its Remote Deposit Capture Technology Patent Rights
USAA, a pioneer in developing remote deposit capture, said it is “inviting” banks and credit unions to license the patent rights to its RDC technology, for which the financial-services giant holds approximately 50 patents. Launched in 2006 as a way to enable USAA’s customers, many of whom are in the …
