Digital Transactions Authoritative, insightful and timely information for payments professionals
The U.S. conversion to EMV chip cards has produced a windfall for VeriFone Systems Inc. over the past couple of years. But despite record revenues in the quarter ended April 30, delays in getting EMV equipment certified contributed to sharply lower profits and financial expectations for the leading domestic point-of-sale …
June, 2016
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6 June
As the mPOS Revolution Spreads to More Merchants, Players Must Build Scale Fast
The mobile point-of-sale revolution started in North America with smart-phone readers from startups like Square Inc. and established software houses like Intuit Inc., but it’s now a global phenomenon with broad implications for entrenched players and newcomers alike, according to research released Monday. Indeed, mobile POS gear—chiefly phones or tablets …
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6 June
Payments Veteran Khan Says His New Wallet, OmnyPay, Is Nearing Its Retailer Launch
Mobile-wallet provider OmnyPay Inc. is nearing the launch of its white-label service, which includes payments, loyalty, and offers, with a top 30 U.S. retailer. The debut is expected within the next few months. That’s the word from Mohammad Khan, OmnyPay president and cofounder, in an interview with Digital Transactions News. …
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6 June
Nearly 40% of U.S. Visa Credit and Debit Cards Now Have an EMV Chip
Nearly 283 million Visa-branded credit and debit cards issued by U.S. financial institutions now have an EMV chip, Visa Inc. reports. In addition, some 1.1 million U.S. merchant locations that accept Visa cards now take chip cards. In the latest of the payment card networks’ updates on the U.S. chip …
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6 June
Vantiv Security Pay Program Update and other Digital Transactions News briefs
• The ATM Industry Association teamed up with media and conference firm Reconnaissance International to organize a series of international events under the “ATM & Cash Innovation” moniker. • Vantiv Integrated Payments, a Vantiv Inc. company, began the next phase of its Security Pays program to encourage business owners to …
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3 June
Visa Gets OK for Visa Europe Purchase and other Digital Transactions News briefs
• Visa Inc. said the European Commission, the competition authority of the European Union, approved its planned acquisition of bank card association Visa Europe Ltd.; the $23-billion-plus deal has now received all regulatory approvals, and Visa Inc. expects it to close by June 30. • Visa debuted a payment ring for Team …
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2 June
Consumers Want Mobile Payments Everywhere, Survey Finds
Just as consumers have become accustomed to using their credit and debit cards across multiple shopping channels, so too are many expecting the digitized, and mobilized, versions of these cards to mimic that experience. That finding, from 451 Research LLC’s “Mobile Pay and Commerce Advisory Report,” suggests that early adopters …
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2 June
More Canadian Banks Enable Apple Pay and other Digital Transactions News briefs
• Merchant processor iPayment Inc. has agreed to promote acceptance of Samsung Electronics Co. Ltd.’s Samsung Pay mobile-payments service to merchants and resellers. Merchants can receive a merchant kit that includes window decals and other point-of-purchase items promoting Samsung Pay acceptance. Samsung announced its Samsung Pay reseller program in January. …
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2 June
Eye on Washington: ATM Deployers Slam Operation Choke Point; NRF Wants PCI Probe
A trade group of independent ATM deployers on Thursday issued a report blasting the federal government’s Operation Choke Point targeting high-risk merchants, and the nation’s leading retailer association called on the Federal Trade Commission to investigate the PCI Security Standards Council on antitrust grounds. While mostly affecting a few merchant …
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2 June
You’ve Heard of Honor-All-Cards. Now Retailers Are Battling Honor-All-Wallets
The latest battle between merchants and the major card brands has been brewing behind the scenes for months but went public Thursday when an advocacy group for big-box retailers charged that a new twist on network rules is slowing the progress of mobile payments. The controversy involves regulations long maintained …