Digital Transactions Authoritative, insightful and timely information for payments professionals
• Canada-based Mobeewave is making its PayMeTap mobile peer-to-peer app available to consumers across Canada. The free app had been in testing. The Android app enables consumers to accept a payment by tapping a phone with a contactless credit card. • Payments company BillingTree Inc. launched the Payrazr Marketplace, …
April, 2016
-
15 April
How Proprietary Mobile Wallets Are Showing the Way to Win Adoption And Usage
Universal mobile wallets have yet to gain the hearty embrace of merchants and consumers, unlike those serving a solitary merchant. But that will change, forecasts the “Merchant Mobile Wallets: Mobile Payments in Action” report released Wednesday by Mercator Advisory Group Inc. The report from the Maynard, Mass.-based payments consultancy predicts …
-
14 April
NACHA Reports a Banner 2015, With Stepped-up Growth And New Applications
The automated clearing house network reported stepped-up transaction volume with each set of quarterly statistics it released last year, and on Thursday it confirmed officially that 2015 was a banner year for growth. The payments network, which connects virtually every financial institution in the country, handled more than 24 billion …
-
14 April
Eye on Litigation: LevelUp’s Patent Fight; New York AG Targets Northern Leasing
Mobile payment and marketing provider LevelUp is continuing its fight against a rival over an alleged patent infringement and the New York Attorney General has filed suit against Northern Leasing Systems Inc. alleging deceptive business practices. In 2015, Boston-based LevelUp’s parent company, SCVNGR Inc., filed suit in U.S. District Court …
-
13 April
The ‘Pays’ Win Plenty of Awareness and Adoption—But Usage Remains a Struggle
When it comes to mobile-payments services like Apple Pay and Samsung Pay, the payments industry appears to be seeing adoption. But it could be years before it sees steady usage. The adoption picture, as defined by cardholders loading a card, is improving for Apple Pay, according to the latest numbers …
-
13 April
Choice Is the Operative Word in Bill Payments, Fiserv Survey Finds
Consumers increasingly want choice in bill payments, according to findings from a new study by Fiserv Inc. The bank and payment processor’s Eighth Annual Billing Household Survey found that the average number of payment methods consumers use monthly rose from 2.9 in 2014 to 3.6 in 2015, a 24% increase. …
-
12 April
Wow! FICO Reports a 546% Increase in ATM Compromises From 2014 to 2015
A migration of sorts appears to be under way among criminals targeting electronic payments as evidence surfaces that ATMs, especially those not owned by banks, are being targeted. In 2015, there was a 546% increase in ATM compromises, says Fair Isaac Corp., the company known as FICO. Based on data …
-
12 April
Rash of Breaches Bedevils Merchants With a Fast-Rising Rate of Fraud, Lexis-Nexis Finds
Retailers are contending with a markedly higher level of fraud this year than they did in 2015, with the fraud rate increasing from 1.32% of revenue to 1.47%, finds the 2016 LexisNexis True Cost of Fraud study. Last year marked the first time the rate was greater than 1%. When …
-
12 April
Investors Take a Stake in an ISO and other Digital Transactions News briefs
• Prepaid card and mobile-banking provider Green Dot Corp. named three new independent directors to its board and non-independent director Sam Altman stepped down as the company expanded its board from eight to 10 directors, all but one of them now independent. Green Dot shareholder Harvest Capital Strategies LLC, which …
-
11 April
Apple and Samsung Tech, Along With Host Card Emulation, Drive NFC Usage
In another indication of the rebound of near-field communication for payments, some 148 million consumers globally will use the contactless technology in a mobile or wearable device to buy something this year, according to the latest report from Juniper Research, released Monday. Fully 70% of these consumers will be wielding …