Digital Transactions Authoritative, insightful and timely information for payments professionals
Card-not-present fraud is growing as EMV chip cards make it harder for fraudsters to use counterfeit credit and debit cards at the point of sale, but perceptions about the reasons for the increase may need some clarification, according to the U.S. Payments Forum. “Some of the reports of large rises …
May, 2017
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1 May
Card Testing Fraud Rate Increases and other Digital Transactions News briefs
• Former Heartland Payment Systems Inc. chief executive Bob Carr has returned to the payments industry with Beyond, a payments provider. Announced Monday, Beyond, on its Web site, says it will provide payment processing, integrated payments, lending services, and business-management services. Carr had been the leader of Heartland, which Global Payments Inc. acquired for …
April, 2017
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28 April
Apple P2P Payments Rumors Surface Again and other Digital Transactions News briefs
• Apple Inc. is once again talking to payments-industry players about launching a person-to-person payment service, according to a report on Recode.net, which cited “multiple sources familiar with the talks.” The sources say the service would allow iPhone users to send money to each other. Recode also reports Apple is talking to …
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27 April
Financial Institutions Still Looking for Legal Certainty as the Cannabis Industry Grows
Whatever their personal feelings are about marijuana usage, the growth of the legal cannabis industry in many states will force bankers and payments executives to examine the business prospects of serving that industry, according to an executive with a regional automated clearing house association. While marijuana remains illegal under federal …
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27 April
Dwolla’s Tokenized ACH Move and other Digital Transactions News briefs
• Opponents and proponents of repealing debit card interchange controls known as the Durbin Amendment prepared for a hearing on the Financial CHOICE Act Thursday with dueling press releases. The National Retail Federation, as reported earlier this week by Digital Transactions News, led a meeting of retailers interested in keeping the …
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27 April
How the EMV-Fueled Shift of Fraud Online Is Generating Headwinds for Airlines
Merchants and card issuers have been hearing for several years that the advent of EMV chip cards at the point of sale in the United States would drive fraud into card-not-present channels, and now evidence is emerging that this is happening with a vengeance, even with companies like airlines that …
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27 April
Opportunities Expand for Airlines To Adopt Mobile Payments, But Challenges Persist
Mobile payments are on the radar for many airline executives. Fully 72% of North American airline executives responsible for revenue, finance, payments, and commerce, said the increase in customers using mobile payments and mobile banking is a factor in deploying digital wallets and alternative-payment methods, finds a new survey from …
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26 April
Vantiv Buys Paymetric and other Digital Transactions News briefs
• Processor Total System Services Inc. (TSYS) reported its revenues grew 60.2% year-over-year in the first quarter, to $1.2 billion from $739.4 million. Net income attributable to common shareholders was $105.9 million, up 16.8% from $90.6 million. For 2017, the company is raising its total revenue and net revenue guidance by …
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26 April
PayPal Tops 203 Million Consumer Accounts As Partnerships Begin To Pay Off
Pay with Venmo, a fledgling merchant-payments service from PayPal Holdings Inc., is advancing to a broader testing stage with merchants, PayPal chief executive Dan Schulman said during a conference call with analysts to discuss the company’s first-quarter results Wednesday. Announced in 2016, One Touch is PayPal’s rapidly growing checkout service …
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25 April
FIS And TCH Prep a Real-Time Payments Incubator for Banks And Credit Unions
As the U.S. payments industry prepares to adopt real-time payments, supporters are readying their services. The latest entry is the duo of Fidelity National Information Services Inc. (FIS) and The Clearing House Payments Co. LLC, which announced Tuesday an incubator in which banks and credit unions can take their first …
