News

October, 2016

• 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 …
• 20 October

  Consumers Willing To Take Extra Steps To Avoid Online Fraud, an AmEx Survey Says

  

  By Kevin Woodward@DTPaymentNews Consumers appear willing to take more steps to mitigate their online-fraud exposure than merchants are willing to provide, with 78% of consumers willing to enter a card-verification code, but only 57% of merchants requiring it, finds a new American Express Co. survey. Consumers are willing to take …
• 20 October

  Visa Sets April 2018 Deadline for European Issuers To Support 3-D Secure Version 2.0

  

  Visa Inc. announced Thursday that credit and debit card issuers in Europe will be the first issuers to adopt Visa’s program for using 3-D Secure 2.0, the impending update to an authentication protocol for online transactions originally introduced more than a decade ago. Visa said certain rules, such as fraud-chargeback …
• 20 October

  Recent Pacts With Visa And MasterCard Begin to Bear Fruit for an Ambitious PayPal

  

  Just three months after forging a landmark agreement with Visa Inc., and not quite two months after doing a similar deal with MasterCard Inc., PayPal Holdings Inc.’s top brass on Thursday indicated the agreements are already paying dividends for the San Jose, Calif.-based digital-payments company. “Our customers are now able …
• 20 October

  Merchant-processing revenue up at U.S. Bancorp and other Digital Transactions News briefs

  • Merchant acquirer Worldpay brought its Worldpay Total integrated payments platform to the U.S.; Worldpay introduced the platform in the United Kingdom in November 2014 and extended it to European e-commerce merchants earlier this year. • U.S. Bancorp, owner of merchant acquirer Elavon, posted $412 million in merchant-processing revenues in …
• 19 October

  When It Comes to Mobile, Users Like Smart Phones, Browsers—And Now, Virtual Reality

  

  By John Stewart @DTPaymentNews While many observers have lamented the apparently slow growth in consumers’ adoption of mobile payments, that doesn’t mean more consumers aren’t using mobile devices each year to buy things. It also doesn’t mean users aren’t getting more comfortable buying bigger-ticket items via mobile channels. Surveys by …
• 19 October

  Consumer Awareness of Mobile Payments Increases, Finds an Accenture Survey

  

  By Kevin Woodward@DTPaymentNews U.S. consumers are becoming more aware of mobile payments, which could potentially increase use of the burgeoning digital-payment method. Indeed 56% of them are “extremely aware” of the technology, finds the 2016 North America Consumer Digital Payments Survey from Accenture. In 2015, the figure was 52%. Only …
• 19 October

  American Express Puts Its Focus on Platinum Cards, Digital Marketing, and Small Merchants

  

  By Jim Daly@DTPaymentNews The loss of its cobranded card and exclusive credit card acceptance relationship with Costco Wholesale Corp. hit American Express Co. hard in the third quarter, but AmEx’s chief financial officer on Wednesday said brighter days lie ahead as the company builds new business. The quarter ended Sept. …
• 18 October

  M-Payments Use Remains Flat and other Digital Transactions News briefs

  • Mobile e-commerce grew 60% last year to reach $120 billion, with 70% of that total coming through browsers (50%) and apps (20%) accessed via smart phones, according to a new report from Javelin Strategy & Research. • Routine usage of mobile devices to make payments remains flat with last …
• 18 October

  Like His Predecessor, Incoming Visa CEO Kelly Looks To Improve Merchant Relations

  

  By Jim Daly@DTPaymentNews Charles Scharf accomplished a lot in less than four years as Visa Inc.’s chief executive—he oversaw Visa’s acquisition of Visa Europe, a groundbreaking peace accord with PayPal Holdings Inc., and a cobranding and acceptance deal with Costco Wholesale Corp., among other things—but one of his unfinished tasks …