News

August, 2016

• 8 August

  Quick Chip Could Benefit NFC, But Will That Mean More Mobile-Wallet Usage?

  By John Stewart @DTPaymentNews When Visa Inc. and MasterCard Inc. demonstrated their merchant frustration with lengthy certification logjams. The Quick Chip and M/Chip Fast code is available at no cost, and American Express Co. and Discover Financial Services are also offering variants of it. How many merchants will adopt the …
• 8 August

  Contactless Payments Specialist PayRange Taps Into the Canadian Vending Market

  

  PayRange Inc., a specialist in contactless payments for vending machines, is making good on $12 million in funding it raised last year with a couple of contract announcements. Portland, Ore.-based PayRange said Monday the Canadian National Vending Alliance, a coalition of large vending operators in Canada, will equip all vending …
• 8 August

  Credit Unions Join Wendy’s Data Breach Suit and other Digital Transactions News briefs

  • The U.S. Marshals Service announced that bidder registration began today for its Aug. 22 online auction of 2,719.33 Bitcoins forfeited to the government in various criminal, civil, and administrative cases. The Bitcoins, which will be sold in one block, are worth nearly $1.61 million at today’s price of $590.25 …
• 8 August

  The Feds Set Their Fifth Bitcoin Auction; Expect More in the Future

  

  By Jim Daly@DTPaymentNews The notion of the federal government auctioning off Bitcoin seized in drug busts and other actions looks like it’s an idea with some staying power. The U.S. Marshals Service on Monday scheduled yet another auction of the virtual currency in the wake of the four it conducted …
• 5 August

  Funding Data Confirms It: In-Store Tech Is Exploding As the Point of Sale Modernizes

  

  By John Stewart @DTPaymentNews It’s no secret the U.S. point of sale is undergoing perhaps the most extensive overhaul in its long and storied history, but now there’s evidence that a crowd of technology startups are sharing in the bounty that sweeping modernization is generating. Point-of-sale startups will likely reap …
• 5 August

  Green Dot Doubles 2Q Profit and other Digital Transactions News briefs

  • Prepaid card provider Green Dot Corp. reported that second-quarter net income more than doubled from a year earlier to $7.78 million on a 2% increase in operating revenues to $173.5 million. While Green Dot’s active card count of 4.28 million was down 11% from a year earlier, purchase volume …
• 5 August

  Sage Payments Developer Portal is the go-to platform for ISV and development partners

    Sage Payment Solutions has launched the Sage Payments Developer Portal, an enterprise-level API developer enablement solution. As a collaborative resource, the Sage Developer Portal is the go-to platform that helps ISV and developers quickly integrate payments into their software, mobile application or website. Designed with the needs of software …
• 4 August

  PayNearMe Strikes Comcast Payment Deal and other Digital Transactions News briefs

  • The Wells Fargo/Gallup Small Business Index found that checks, at 90%, and cash, at 72%, continue to reign as the top payment methods accepted by small businesses. A printed check from a bill-pay service was next, at 53%, followed by credit or debit card at a point-of-sale terminal, 42%, …
• 4 August

  Miami’s Transit Agency Among the First to Ride Contactless Rails from TfL

  

  By Kevin Woodward@DTPaymentNews Consumers using near-field communication (NFC)-enabled payment cards and smart phones enabled with mobile wallets soon will be able to use them to pay for transit rides operated by the Miami-Dade County’s Department of Transportation and Public Works, Cubic Corp. recently announced. The contract is valued at $33 …
• 3 August

  Credit Card Chip-and-PIN Would Be a Multi-Billion-Dollar Loser, Report Suggests

  

  Implementing so-called chip-and-PIN authentication for U.S. credit cards would cost merchants and card issuers more than $7 billion but prevent only about $850 million in lost-and-stolen card fraud over five years, a new report from Aite Group LLC says. The report, “Chip Cards in the United States: The PIN, PINless, …