Digital Transactions Authoritative, insightful and timely information for payments professionals
So far, online merchants are winning the battle against fraud, but the gains are coming at a high cost, according to the latest annual fraud study from CyberSource Corp., set for release next week with results for 2015. The progress also comes as card-not-present merchants prepare for an expected onslaught …
April, 2016
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29 April
Cardtronics ATM Use Increases and other Digital Transactions News briefs
• The Federal Trade Commission is investigating PayPal Holdings Inc.’s popular Venmo mobile person-to-person payments service for possible “deceptive or unfair practices,” PayPal reported in a regulatory filing. PayPal said it received a so-called civil investigative demand March 28 from the FTC for documents and answers to written questions about …
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28 April
MasterCard’s Processed Transactions Grow at Their Highest Rate Since Mid-2013
MasterCard Inc. in the three months ending March 31 posted its biggest increase in processed transactions in two-and-a-half years, thanks to strong U.S. volumes and growth in many, if not all, other markets. The No. 2 payment card network Thursday reported its processed transactions totaled 12.6 billion in the first …
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28 April
ETA’s Oxman Says San Francisco Office Is Indicative of Payments-Industry Change
The Electronic Transactions Association, a trade group based in Washington, D.C., that represents the merchant-services industry, has opened an office in San Francisco, its first outside of the nation’s capital. The move is indicative of Silicon Valley’s growing presence within the payments industry and, specifically, within merchant services, says Jason …
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27 April
Financial Executives Worry About More Fraud With Same-Day ACH
The coming of same-day settlement of automated clearing house transactions to the U.S. next September has many bank and credit-union executives excited about the prospect of faster payments. But fears about more fraud are rising, too. A recent survey of approximately 60 financial institutions by New York City-based fraud-control firm …
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27 April
Eye on Merchant Funding: Shopify Enters the Fray, and Citi Invests in Cloud Funder BlueVine
It may have started with the likes of PayPal Holdings Inc. and Square Inc., but it isn’t stopping there. Having made their mark in merchant processing, high-tech payments firms are increasingly turning their attention to the business of offering funding to the merchants they serve. The move is bringing them …
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27 April
U.S. EMV Shipments Spur Smart Card Growth and other Digital Transactions News briefs
• Apple Inc. CEO Tim Cook reported at the company’s latest quarterly earnings call that the Apple Pay contactless mobile-payment service “is growing at a tremendous rate” and has more than five times the transaction volume it had a year ago, but he didn’t give numbers. The service, which is …
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27 April
Venmo And One Touch Help Buoy PayPal While Big Merchants Squeeze Its Margins
When it comes to mobile payments, few operators can equal PayPal Holdings Inc., a fact the company underlined on Wednesday when it reported mobile volume reached $21 billion in the first quarter, up fully 54% year-over-year. But casting a shadow over the good news was a continuing downward trend in …
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26 April
Retailers Are More Confident About Speedy Breach Detection, But Should They Be?
With data breaches continuing to plague the payments business, and with major incidents like that of Target Corp. still fresh in the minds of payments professionals, you might think retailers would be cautious these days about their ability to ward off attackers. Not so, according to survey data released Tuesday …
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26 April
Meeting Security Demands in Digital Experiences Presents a POS Challenge
Merchants attempting to create more digital experiences in their stores and restaurants because of consumer expectations are finding security of payments to be a significant challenge, finds the “Step Up The In-Person Experience” report issued by Forrester Consulting Inc. Commissioned by tablet point-of-sale maker Revel Systems, the report examines how …