Digital Transactions Authoritative, insightful and timely information for payments professionals
• 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 …
September, 2016
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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 …
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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 …
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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 …
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19 September
Network Merchants Earns TSYS Certification and other Digital Transactions News briefs
• Processor Fiserv Inc. said a new scoring model for its Payment Fraud Manager service designed specifically for automated clearing house transactions detected more than 90% of fraud while reviewing only 2% of the transactions in model validation tests. • Payment gateway Network Merchants LLC announced its SwIPe EMV chip …
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16 September
When It’s Time To Pay the Rent, Entrata Gets a Better Deal for Visa Debit Card Holders
By Kevin Woodward@DTPaymentNews With more than 3 million renters enrolled in an online rent-payment service, Entrata Inc.’s desire to optimize its payment-card acceptance costs is paramount. That’s why Lehi, Utah-based Entrata is working with Visa Inc. on an improved payment and authorization program for the multifamily-housing industry. Announced Thursday, the …
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16 September
‘I Need Knowledge:’ Merchants Express Befuddlement About EMV, Breaches, System Issues
By Kevin Woodward@DTPaymentNews Merchants would like nothing more than to decipher what they call the “mysteries” of the payments universe, a select group of them told attendees Thursday at the Western States Acquirers Association conference in Scottsdale, Ariz. These mysteries, they said, include knowing whom to call when a problem …
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16 September
When It Comes to Friendly Fraud, It Seems Women Are a Lot Less Friendly Than Men
By John Stewart @DTPaymentNews Few things have thrown a spotlight on the 40-year-old chargeback process like the nation’s conversion to EMV chip cards at the point of sale, but it’s in online commerce where the problem has long plagued merchants. And now there’s evidence that these sellers may have more …
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15 September
Transcending Transactions: Infinite Peripherals’ Mobile iOS POS Devices Conquer the Skies
By Tom McCole, Mobile Commerce Strategy, Infinite Peripherals, Inc. Space: the final frontier. Well maybe we’re not talking outer space yet, but in-flight travel for sure. Infinite Peripherals’ (IPC) mobile iOS handheld devices are simplifying multiple duties on many of Earth’s commercial aircraft and at airport terminals as well. …
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15 September
Walmart Canada Expands Its Two-Month-Old Visa Credit Card Ban to Manitoba
By Jim Daly@DTPaymentNews The dispute between Wal-Mart Stores Inc. and Visa Inc. over payment card acceptance costs intensified Thursday when the retailer’s Walmart Canada unit announced that it will extend its ban on Visa credit card acceptance from Thunder Bay, Ontario, to its 16 stores in the province of Manitoba. …
