News

September, 2016

• 22 September

  On the Eve of Same-Day Clearing, ‘Excitement Is Palpable’ at ACH Nerve Center

  

  By John Stewart@DTPaymentNews Same-day processing starts Friday on the nation’s automated clearing house network, and months of preparation and planning appear to be paying off.  “Everybody is heads-down getting it done. We haven’t been getting any SOS calls,” Jane Larimer, executive vice president of network services at NACHA, the governing …
• 22 September

  Though Locked in Combat With Visa, Wal-Mart Cuts a Deal for ChaseNet Visa Acceptance

  

  By John Stewart@DTPaymentNews Wal-Mart Stores Inc.’s deal with JPMorgan Chase & Co.’s ChaseNet processing network, announced Thursday morning, proves that the nation’s biggest retailer can make peace with the big card brands if the terms are right. And it may indicate bigger prospects for Chase’s ambitious merchant-acquiring operation. Under the …
• 21 September

  With Same-Day ACH Looming, Dwolla Unveils a Payout Feature for its White-Label API

  

  By John Stewart @DTPaymentNews Companies that have been planning for months for the arrival Friday of same-day automated clearing house payments are getting ready to pounce, and one of the first opportunities lies in platform payouts. Des Moines, Iowa-based Dwolla Inc., for example, on Wednesday is announcing a new feature …
• 21 September

  Samsung Preps Note7 Replacements and other Digital Transactions News briefs

  • The total value of contactless transactions worldwide will reach nearly $500 billion next year, up fully 56% from an estimated $321 billion in 2016, according to Juniper Research. • Samsung Electronics America Inc. said more than 500,000 replacement Galaxy Note7 phablets have arrived in the U.S. and will be available …
• 21 September

  Now That Apple Pay Has Arrived on the Web, Will It Solidify Its Hold on Users?

  

  Apple Pay has brought the one-click simplicity of its mobile-payments service to the desktop and mobile browsers. Apple Inc. on Tuesday released an update for Apple computers that enables consumers to pay using its Apple Pay mobile wallet on participating Web sites, such as Lululemon.com and Apple.com, but only when …
• 20 September

  EMV Adoption Slows, But the Contactless-Terminal Foundation is Growing

  

  By Kevin Woodward @DTPaymentNews Almost a year after the U.S. payment card industry adopted EMV chip cards for point-of-sale transactions, approximately 44% of U.S. merchants that accept credit and debit cards have EMV POS terminals. That assessment, in The Strawhecker Group’s latest EMV survey released Tuesday, is less than an …
• 20 September

  Frost Bank Joins clearXchange and other Digital Transactions News briefs

  • The Clearing House Payments Co. LLC selected IBM Corp.’s Power8 system for its real-time payments service, expected to go live next year. The IBM system will run software from VocaLink Holdings Ltd., which TCH selected last year as a vendor for its project. VocaLink is being acquired by MasterCard …
• 20 September

  Visa Will Drop Static Passwords for Its Verified by Visa Online Fraud-Control Service

  

  By Jim Daly@DTPaymentNews Visa Inc. plans to phase out static passwords used with its Verified by Visa e-commerce fraud-control service beginning in April 2018. Visa’s announcement precedes even more changes coming to Verified by Visa’s underlying technology called Three-Domain Secure, or 3-Secure. EMVCo, the chip card standards body owned by …
• 19 September

  Eye on Acquiring: BIN Supply Remedies And an Update on Faster EMV Techniques

  

  By Kevin Woodward@DTPaymentNews Acquirers and processors have until Oct. 14 to prepare their systems for a new range of bank-identification numbers MasterCard Inc. intends to add to its inventory for issuers. Announced in 2014, the move is an attempt to stymie a possible exhaustion of BINs. These numbers are the …
• 19 September

  Stripe Employs Visa, MasterCard Real-Time Payment Services for Its Marketplaces Users

  

  MasterCard Inc. and Visa Inc. reported Monday that online-payments specialist Stripe Inc. is using their instant-payment services to pay merchants such as ride-sharing service Lyft and other users of Stripe’s marketplaces. Stripe actually began offering what it calls Instant Payouts relying on the network services—Mastercard Send and Visa Direct—to merchants as …