News

October, 2016

• 27 October

  Walmart Alters Money Transfer Programs and other Digital Transactions News briefs

  • Financial-institution processor Fiserv Inc. said its payments segment posted adjusted revenues of $701 million in the third quarter, up 9% from $643 million a year earlier. Operating income rose 11.5% to $242 million. • Wal-Mart Stores Inc. announced service changes in the U.S. and Mexico, and lower prices, involving …
• 27 October

  Online Merchants Fear Fraud, But the Bigger Problem is False Declines–And It’s Getting Worse

  

  By John Stewart@DTPaymentNews Online merchants are dreading an onslaught of fraud, but what they should really brace for is a much bigger problem: so-called new version, which comes from EMVCo, the standards body controlled by the global card brands, will work in-app as well as within browser-based shopping sessions and …
• 26 October

  Why MasterCard And PayPal Are Leveraging Bots for Payments on Facebook Messenger

  

  By John Stewart @DTPaymentNews As payments firms seek to commercialize emerging online marketplaces, they’re starting to leverage automated routines that promise to overturn traditional transaction methods and, just possibly, deliver on the long-sought goal of so-called frictionless payments. This week, both MasterCard Inc. and PayPal Holdings Inc. announced new initiatives …
• 25 October

  MasterCard’s Chatbots and other Digital Transactions News Briefs

  • Chip card standards body EMVCo issued 3-D Secure 2.0, its update of the 3-D Secure technology for protecting e-commerce transactions. The new specification supports app-based purchases on mobile and other devices and will streamline the checkout process in order reduce transaction abandonment, EMVCo says. • MasterCard Inc. announced plans to …
• 25 October

  Beyond In-Store And In-App: Samsung Pay, Android Pay Add Online Payment Capability

  

  By Kevin Woodward@DTPaymentNews Consumers with Samsung Pay mobile-wallet accounts will be able to use them as a payment method for online transactions thanks to a partnership with Samsung Pay to shop using Masterpass starting in 2017. To use the service, consumers select the Masterpass button on a participating merchant’s e-commerce …
• 24 October

  Fiserv Connections Lift Zelle and other Digital Transactions News Briefs

  • Visa Inc. and chip maker and software provider Intel Corp. announced a two-pronged security initiative, one of which aims to protect the growing Zelle person-to-person payments network, to which Fiserv is providing a link. Zelle is expected to launch early next year. • In related news, Fifth Third Bank …
• 24 October

  Visa Europe Helps To Lift Visa Inc.’s Total Payment Volume by 47%

  

  By Jim Daly@DTPaymentNews You thought Visa Inc. was big already? Boosted by Visa Europe and solid growth in the U.S. and some other regions, the world’s largest card network’s credit and debit card payment volume grew 47% in the quarter ended Sept. 30. Foster City, Calif.-based Visa Inc. on Monday …
• 24 October

  A Plug-in From Synchrony Brings Store Cards to Retailers’ Shopping Apps

  

  By John Stewart @DTPaymentNews With consumers spending more and more time on retailers’ shopping apps, it was only a matter of time before merchants with proprietary charge card programs began offering a digitized version of those cards within their apps. On Monday, that time arrived as store card processor Synchrony …
• 23 October

  Seeking to Promote Innovation, the CFPB’s Cordray Sounds a Conciliatory Note

  

  By John Stewart @DTPaymentNews In its short lifetime, the Consumer Financial Protection Bureau has already established itself as one of the most aggressive regulators confronting the financial-services industry, including payments services. But in a speech on Sunday the director of the 5-year-old federal agency sounded a number of conciliatory notes …
• 21 October

  The Budding Internet of Things May Present a $14 Billion Opportunity for Payments Firms

  

  By Jim Daly@DTPaymentNews It’s in its infancy, but the Internet of Things, or IoT, will represent a $14 billion revenue opportunity globally by 2020 for payments firms smart enough to capitalize on it, according to research firm IDC Financial Insights. “That is a very conservative estimate,” James Wester, research director …