· Technology-testing provider UL says its cloud-based payments test suite has been approved by MasterCard Inc. It is used to test MasterCard mobile-payment applications. UL also says it now supports a new type approval program for mobile devices against an EMVCo standard. · TD Bank Merchant Solutions will offer small …
May, 2016
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1 May
Fake Emails With Sophisticated Social Engineering Tricks Are Proliferating, Intel Warns
A well-crafted email message from an executive can cause employees to take swift action. That’s just what criminals hope for when they send phishing messages that purport to be from senior executives to more junior ones, says Scott Montgomery, vice president and chief technical strategist at Intel Security, the data-protection …
April, 2016
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29 April
Online Merchants Are Beating Fraud, But the Gains Are Costly, CyberSource Study Reveals
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 …
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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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29 April
How to Make the Post-EMV Fraud Tsunami Work in Your Favor
Consumers and brick-and-mortar stores across the country have been juggling the challenges of adapting to EMV technology – the microchip cards that will make card present fraud more difficult. Despite a number of setbacks, the potential benefits are worth the bother. When it comes to card-not-present (CNP) transactions, …
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29 April
ATM Operator Cardtronics Plans To Reincorporate in the United Kingdom
For Houston-based Cardtronics Inc., Europe is the new land of opportunity, so much so that the leading ATM network owner and operator plans to “redomicile” in the United Kingdom. The move is likely to cut the company’s tax rate, possibly by half, but Cardtronics says that’s just one of several …
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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 …