Digital Transactions Authoritative, insightful and timely information for payments professionals
JPMorgan Chase & Co.’s Chase Pay mobile-payments service has added an order-ahead feature that relies on functionality developed by LevelUp, a Boston-based mobile-payments and mobile-loyalty company. The new feature is available today for Chase Pay users at quick-service restaurants in Boston and will be usable at QSRs nationwide in “coming …
December, 2016
-
7 December
Survey Finds That Kicking Cash off the Bus Will Be Hard To Do
Despite years of efforts by transit agencies, payments companies and banks to get mass-transit riders to switch to cards or mobile tickets, most riders still prefer to pay fares with cash and regard cash as the most secure payment form, according to new survey results from payment technology provider ACI …
-
6 December
Vantiv Teams With PPRO Group To Let Web Merchants Take Payments Globally
U.S. merchants processing with Vantiv Inc. that want to court international e-commerce customers now can offer these shoppers alternative payment methods unique to their locations. Vantiv announced on Tuesday it is working with PPRO Group, a London-based payments provider, to enable non-card payment methods, such as direct debit, bank transfers, cash-based electronic …
-
6 December
Blackhawk Makes Apple Pay Integration and other Digital Transactions News briefs
• Cyber criminals can guess Visa card numbers and other information required for fraudulent online purchases in a matter of seconds, according to researchers. By distributing multiple guesses across many sites, the method avoids triggering automated guess limits at any single site, according to a paper in IEEE Security & Privacy, a …
-
5 December
COMMENTARY: Why You Shouldn’t Count on Real-Time ACH for Retail Payments
A demand-deposit account is the anchor liquidity instrument for most consumers and businesses. For some members of the unbanked, it’s a GPR-prepaid-card account. Policymakers and commercial actors are moving to enable real-time payments between DDAs at thousands of U.S. banks. Policymakers aim to improve payment-system efficiency and enable new and …
-
5 December
The Feds Plan To Create a National Bank Charter for Fintech Companies
The U.S. Treasury Dept.’s Office of the Comptroller of the Currency, which regulates national banks, plans to create a special-purpose national bank charter for financial technology companies, a booming field in which payments firms play prominent roles. Comptroller of the Currency Thomas J. Curry divulged the planned charter during a speech Friday at …
-
5 December
A New App Lets Supermarkets Get in on the Trend Toward E-Commerce in the Store
Few consumers like waiting in lines to pay, especially at grocery stores. One California grocery chain is taking steps to make it easier for shoppers pay for their purchases with the launch of a self-checkout app. The California Fresh Market location in San Luis Opisbo, Calif., is using Future Proof …
-
2 December
Holiday Spending Grows 5.8% and other Digital Transactions News briefs
• In a study of more than 900,000 merchants, processor First Data Corp. says retail spending from Thanksgiving through CyberMonday (Nov. 28) grew 5.8% from year-earlier levels; brick-and-mortar retailers saw spending grow 4.1% while e-commerce spending jumped 14.3%. • European software firm Comtrade Digital Services has built an automated banking platform for the Viber messaging app, …
-
2 December
Visa’s Deal for CardinalCommerce Comes As Fears Rise Over Online Fraud, False Declines
In a move that expands its business as a provider of risk-control services for merchants and card issuers, Visa Inc. announced Thursday that it has a deal to acquire e-commerce payment-authentication provider CardinalCommerce Corp. Founded in 1999, Mentor, Ohio-based CardinalCommerce’s signature product is Cardinal Secure Authentication, a service that uses …
-
2 December
The Fed Leaves Durbin Cap Unchanged Despite Ongoing Drop in Issuers’ Debit Card Costs
The Federal Reserve will leave the current interchange cap on debit card transactions in place, the agency announced this week as part of its biennial review of the regulation formally known as Regulation II, but commonly called the Durbin Amendment. The Fed’s controversial rule implementing the amendment in 2011 imposed …
