Digital Transactions Authoritative, insightful and timely information for payments professionals
By Jim Daly@DTPaymentNews Countless analysts have tried to diagnose what ails the lackluster U.S. mobile-wallet market, but new observations from securities rating agency Fitch Ratings Inc. succinctly identify three primary causes: a lack of compelling value propositions, an overcrowded market, and cyber-risk aversion on the part of consumers. “The vast …
November, 2016
-
14 November
Etsy Adds Apple Pay on the Web and other Digital Transactions News briefs
• Rite Aid Corp. announced that American Express Co. cardholders now can use their Membership Rewards points for purchases at its drugstores. They also can use their Plenti points earned using the AmEx-backed coalition rewards service • Growth in consumer revolving credit cooled off to a 5.2% seasonally adjusted annualized rate in …
-
11 November
Gift Cards Top Holiday Wish Lists and other Digital Transactions News briefs
• Gift cards were the most sought-after gifts among consumers queried for a survey about the upcoming holiday season and sponsored by the National Retail Federation; 61% of respondents reported wanting a gift card, followed by clothing and accessories, 54%; and books, CDs, DVDs or videos, 40%. • Merchant processor …
-
11 November
Holiday Gift Card Loads Will Perk up As Retailers Start To Favor Cards Over Discounts
By John Stewart @DTPaymentNews Retailers can expect a bump upward in the dollars consumers load on closed-loop gift cards this holiday season as a festive spirit takes hold and more merchants favor the cards over holiday discounts, according to a forecast released Friday by payments consultancy Mercator Advisory Group. “Retailers …
-
11 November
In Its Face-Off With the FTC, NetSpend Argues It’s Following the Rules
NetSpend, the prepaid card unit of processor Total System Services Inc. (TSYS), is facing a Federal Trade Commission lawsuit filed Thursday over allegations the company deceptively marketed reloadable debit cards. The suit, filed in the U.S. District Court for the Northern District of Georgia, alleges NetSpend promised “immediate access” to …
-
10 November
Despite the Rising Role of ISVs, 49% of Them Still Don’t Integrate Payments Capability
Even though payments processors have been working with application developers for years, independent software vendors (ISVs) still represent a major opportunity for acquirers and processors. It remains the case that 49% of ISVs do not integrate payments functionality into their systems, according to new research from First Annapolis Consulting, an …
-
10 November
Cardtek Launches Mobile Service Manager and other Digital Transactions News briefs
• Citigroup Inc. became the latest bank to introduce a proprietary mobile wallet, in this case Citi Pay, which will launch later this year in Singapore, Australia, and Mexico, and in the U.S. early next year. Working with MasterCard Inc.’s Masterpass digital-payments service, Citi Pay provides online and in-app payment capability, …
-
10 November
Vantiv Says It Will Buy Moneris’s U.S. Operation With $425 Million in Cash on Hand
By Jim Daly@DTPaymentNews In a move that will further consolidate the U.S. acquiring business, payment processor Vantiv Inc. announced late Thursday that it has an agreement to buy Moneris Solutions Corp.’s U.S. merchant-acquiring subsidiary from its Canadian owners for $425 million in cash. Also known as Moneris USA, Schaumburg, Ill.-based …
-
9 November
The PCI Council Eyes Securing Payment Data on the Insecure Internet of Things
By Jim Daly@DTPaymentNews The PCI Security Standards Council is devising recommendations for protecting payment transactions on devices connected to the Internet of Things, a network with endpoints researchers say already number in the billions. The Wakefield, Mass.-based PCI Council, which oversees a number of security standards for the protection of …
-
9 November
Votes Cast, Trump’s Victory Could Portend Changes in Payments Regulations
By Kevin Woodward@DTPaymentNews The impact of a Donald J. Trump presidency on the payments industry may not be known in concrete terms yet, but speculation suggests a fair number of moves meant to take some of the sting out of regulations. Republican Trump handily won the Electoral College vote Tuesday, …
