Digital Transactions Authoritative, insightful and timely information for payments professionals
The migration of payment card fraud to the Internet in the wake of EMV chip cards coming to the point of sale is not new, but new findings from a company that specializes in card-not-present risk control and chargeback reduction provide insights on the breadth of the problem and offer …
March, 2017
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22 March
ACI Adds Bitcoin Support and other Digital Transactions News briefs
• Payments Canada, which owns and operates that nation’s payment clearing and settlement infrastructure, has hired consulting firm Accenture to advise it on a multiyear program called Modernization, which is aimed at creating a faster-payments regime. • Payments-solutions provider ACI Worldwide said its network of more than 130 payment-service providers serving more …
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21 March
Fill It Up: Using ExxonMobil’s Speedpass+ at the Pump
For a moment, I thought I was a thief. For a split second as I drove away from the ExxonMobil fuel pump, I thought I forgot to pay. In actuality, I had just used the ExxonMobil Speedpass+ app to make a contactless payment for fuel for the first time. ExxonMobil …
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21 March
The Payments Industry Gets Ready for Enhanced Messaging Through ISO 20022
The name might evoke yawns, but the messaging standard known as ISO 20022 will be playing an increasingly important role in electronic payments in the future. The standard goes beyond bare-bones data related to a payment to facilitate the exchange of more information. The Federal Reserve Banks are encouraging more …
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21 March
Sionic Mobile in Offers Integration and other Digital Transactions News briefs
• Payments-automation specialist linked2pay has added a real-time merchant-onboarding capability to its Bank Centric Payments platform, allowing independent sales organizations and other resellers enrolled with a sponsor bank to register, underwrite, and board merchants for card processing electronically and immediately. • Mobile-commerce provider Sionic Mobile said it is integrating its ION Commerce …
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21 March
On a Growth Trajectory, Amazon Pay Looks To Go ‘Beyond the Button’ in 2017
Amazon.com Inc. announced an integration this week with an e-commerce platform called BigCommerce for its Amazon Pay service, but the company also clearly entertains big ambitions for the payment product it organized as a business in 2015. For now, Amazon Pay is on an upward trend. Some 33 million consumers, …
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20 March
‘Tipping Point’ Has Arrived As More Payments Shops Open Skunk Works to Outsiders
If it seems payments networks and processors are opening up to outside developers right and left these days, it may be because they are. “I don’t know when the tipping point was, but it feels like it was over the last 12 months,” says Ben Milne, chief executive of Des …
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20 March
Synchrony Financial Buys App Developer and other Digital Transactions News briefs
• Money transfer firm MoneyGram International Inc. said last week’s unsolicited $1 billion bid from Euronet Worldwide Inc., outdoing Ant Financial Services Group’s $880 million offer in January, meets the “company superior proposal” definition in the merger agreement with Ant. The determination means MoneyGram can further consider the Euronet offer. • Private-label and cobranded credit …
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19 March
The OCC Moves Ahead With Its Fintech Bank Charter, but Blowback Grows
The Office of the Comptroller of the Currency has provided additional details about evaluating applications for its proposed limited-purpose national bank charter for financial-technology companies, but voices critical of the charter are growing louder. The OCC, a unit of the U.S. Treasury Department that regulates national banks, first proposed the …
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17 March
Merchants Begin to Ponder the Possible Impact of Faster-Payments Initiatives
As the sweeping plan to update the U.S. automated clearing house network and other parts of the country’s payments system—an initiative known as faster payments—draws nearer, the first hints of what it could mean for merchants are being discussed. The faster-payments project, under the aegis of the Federal Reserve, will …
