Digital Transactions Authoritative, insightful and timely information for payments professionals
Once widely disparaged as an unwieldy fraud solution, 3-D Secure is back on the radar screens of risk managers at major online merchants and card issuers. Improvements in the 15-year-old technology, combined with surging e-commerce fraud, are driving the renewed interest, experts say. “Two-and-a-half years ago, zero U.S. online merchants …
March, 2016
-
25 March
Mobile’s Bigger Role in Payments Offers Data With Dual Benefits for Combating Fraud
Acquirers and financial institutions can put consumer and merchant affinity for smart phones to work for them when trying to comply with anti-money-laundering and know-your-customer regulations. Smart-phone activity, whether it’s purchasing behavior, location habits, or personally identifiable information associated with the wireless carrier account, can be used to vet the …
-
24 March
PayPal, Card Brands Gain More Than Banks in Consumer Mobile-Wallet Preferences
If consumers wanted a mobile wallet in 2013 and 2014, they wanted it from their primary financial institution. But things changed in 2015, when PayPal and Visa surpassed banks and credit unions as preferred wallet providers. That’s the bad news for financial institutions in a new report about mobile wallets …
-
24 March
Apple Pay May Be Coming to M-Commerce Sites and other Digital Transactions News briefs
• Starbucks Corp. said JPMorgan Chase & Co. by year’s end will issue a Visa-branded Starbucks reloadable prepaid card that will allow cardholders to earn Starbucks “stars,” or loyalty points, for purchases just about anywhere Visa is accepted; the new card is an extension of Starbucks’ relationship with JPMorgan Chase’s …
-
24 March
Durbin’s Debit Law Is Eyed As Part of a Sweeping Financial Regulatory Review
Not yet five years after its implementation, a controversial federal regulation governing interchange and transaction routing for debit cards has come under review as part of a process set out by a 20-year-old law called the Economic Growth and Regulatory Paperwork Reduction Act. The debit card regulation, the Federal …
-
24 March
Cash Preference Weakens As Younger Consumers Go for Cards, Especially Debit
Industry efforts to persuade consumers to use credit and debit cards for small-ticket purchases may be paying off, at least among younger consumers, finds a survey from CreditCards.com, a card comparison site for consumers. In the survey of more than 600 U.S. adult credit card holders sampled in early March, …
-
23 March
As the Risk of Online Fraud Rises, the Air-Travel Industry Wrestles With 3-D Secure
By John Stewart These days, the airline and air-travel industry finds itself squeezed between two imperatives that have come into sharp focus in recent months. With high average tickets, airlines must guard against fraud at a time when the spread of EMV chip cards is pushing more criminals into …
-
22 March
COMMENTARY: How Faulty Merchant Agreements Sink ISOs
By Eugene Rome Merchant-service providers of all shapes and sizes learn the hard way that cutting corners by using cut-and-paste tactics to create a merchant agreement can end up in costly litigation. Independent sales organizations, third-party processors, and payment facilitators must have a merchant agreement that is tailored to …
-
22 March
Seeking Higher Conversion Rates, Payment Companies Target Streamlined Checkouts
Checkout abandonment, particularly on smart phones, remains high, suppressing transaction volumes and prompting new payment options to enable a faster, smoother process when consumers are ready to buy. BlueSnap Inc., a Waltham, Mass.-based gateway, announced Tuesday an update to its Powered Buy Platform that aims to improve mobile and e-commerce …
-
22 March
Squeezed by Competitors And Finances, Jumio Sees a Savior in Facebook’s Co-Founder
Online and mobile-authentication technology provider Jumio Inc. filed for bankruptcy protection and put itself up for sale Monday, but the Palo Alto, Calif.-based firm expects to live on thanks to support from Facebook co-founder Eduardo Saverin. Saverin, an early equity investor who has injected at least $23 million into Jumio …