News

June, 2016

• 15 June

  Expedited EMV Process Now Available for AmEx Cards

  American Express Co. made available Wednesday the AmEx Quick Chip program that enables a seemingly speedier EMV chip card transaction. Similar to what MasterCard Inc. and Visa Inc. recently announced, the AmEx program enables consumers to remove their AmEx chip cards from readers once the card has been verified instead …
• 14 June

  Visa Claims Analytics Service Cuts Fuel-Pump Fraud in Half

  Visa Inc. on Tuesday reported that gas stations using a service it introduced two years ago to prevent card fraud at fuel pumps has reduced counterfeit fraud by 54%. Visa says that more than 35,000 U.S. gas stations now use its Visa Transaction Advisor technology at the pump, and that …
• 14 June

  Volatility Works in Bitcoin’s Favor As the Digital Currency’s Value Surges to a Two-Year High

  Long-time payments players who like to scoff at Bitcoin as an unproven payments instrument will have to reckon with the robust vote of confidence buyers and sellers of the 7-year-old digital currency have given it over the past few days. Bitcoin’s U.S. dollar value breached the $700 level late Sunday …
• 14 June

  Dunkin’ Donuts Pay-Ahead App Available and other Digital Transactions News briefs

  • Merchant processor Square Inc. settled a lawsuit filed by a Washington University professor, Robert E. Morley, who said he invented Square’s card reader for smart phones. Terms of the settlement were not disclosed, but Square set aside $50 million in the first quarter to cover legal expenses from the …
• 13 June

  Mobile, Breaches, Gift Cards, In-Store Pickup Among Trends Driving Online Fraud

  Forecasters have long predicted that the U.S. payments market’s move to EMV chip cards for in-person transactions will drive criminals into e-commerce fraud. Now data is emerging to show the nuances these fraudsters are exploiting, and how the rise in online fraud is hardly limited to the U.S. market. In …
• 13 June

  Apple Pay Will Come to the Web Later This Year—But Only for Safari Browsers

  Apple Inc. is bringing its Apple Pay service, originally restricted to apps and the Apple mobile wallet, to e-commerce sites on the Web. Apple Pay on the Web will be available this fall as part of the iOS 10 mobile and macOS desktop software updates. “We wanted to bring the …
• 13 June

  TSYS Buys Rest of Joint Venture and other Digital Transactions News briefs

  • Payments veteran Michael J. Schwartz was appointed interim chief executive of mobile-payments and -marketing firm Spindle Inc. upon founding chief executive Bill Clark’s resignation. Schwartz comes to the company from Fiserv Inc. Clark had been CEO since 2011. • Processor Total System Services Inc. (TSYS) purchased the 45% stake …
• 12 June

  Citing ‘Unacceptably High’ Fees, Wal-Mart To Stop Accepting Visa Cards in Canada

  Wal-Mart Stores Inc.’s 400-store Canadian unit announced Saturday that it will no longer accept Visa payment cards in its stores beginning with phased discontinuance starting July 18. “Following an evaluation of credit card transaction fees in Canada and the rest of the world, we have concluded the fees applied to …
• 10 June

  A Deal With Shell Boosts Chase Pay, But the Challenge of Consumer Usage Remains

  JPMorgan Chase & Co. is lining up the necessary elements for its Chase Pay mobile service. The bank announced Thursday that more than 14,000 Shell Oil Co. locations potentially could accept the nascent mobile wallet. Chase shared few details, such as when Chase Pay might be accepted at Shell stations, …
• 10 June

  Cardtronics Secures More CTA Locations and other Digital Transactions News briefs

  • ATM deployer Cardtronics Inc. reached a new agreement with the Chicago Transit Authority under which it will place almost 40 new ATMs at CTA passenger stations, replacing machines already at those stations, and install more machines at additional stations. The move, which expands on an agreement reached with the …