News

March, 2016

• 21 March

  Aided by Mobile Tech And Social Media, Digital Payments Are Surging Globally

  While the U.S. market wrestles with its nearly 6-month-long transition to EMV chip cards and contactless payments based on near-field communication (NFC) technology, the rest of the world is surging ahead with contactless, online, and mobile transactions, according to the latest report from Juniper Research. Total digital payments worldwide will …
• 21 March

  Eye on Cuba: Stripe, PayPal and Western Union Eye a New Growth Market

  With President Obama in the midst of a historic trip to Cuba Monday, payments companies ranging from Stripe to PayPal to Western Union are eyeing new transaction growth as relations thaw between the U.S. and the island nation just 105 miles from Florida. Online payments provider Stripe Inc. announced that …
• 21 March

  Former MCX Chief Joins InStream Board and other Digital Transactions News briefs

  • NCR Corp. says its Epsilon payments application received EMV certification from First Data Corp., enabling the app to process credit and debit EMV transactions in its Radiant POS and StorePoint POS products. • Former Merchant Customer Exchange LLC chief executive Dekkers L. Davidson joined the InStream Inc. board of directors. …
• 18 March

  Semi-Integrated POS Products Could Reduce EMV Certification Costs and Save Time

  Independent software vendors, value-added resellers, and point-of-sale software developers facing the daunting task of certifying their unique products for EMV payment acceptance may face costs starting at $30,000. That figure, which comes from Andrey Tikhonov, senior director of payment technology at Elk Grove Village, Ill.-based Infinite Peripherals Inc., reflects the …
• 18 March

  Sen. Durbin Suggests That the Big Networks Have Too Much Power Over Chip Cards

  U.S. Sen. Richard Durbin, author of 2010’s controversial Durbin Amendment, wants to know about the inner workings of EMVCo, the chip card standards body owned by the six largest global payment card networks. A statement Thursday from the Illinois Democrat says Durbin is “seeking information on whether the deployment of …
• 17 March

  It’ll Be 14 Years Before Mobile Payments Are Secure To Leave Cash And Cards at Home

  The prospect of leaving the house with just a smart phone in lieu of a wallet full of cash and payment cards is 14 years away, according to a survey released Thursday by the Institute of Electrical and Electronics Engineers (IEEE), a technology association based in New York City. By …
• 17 March

  Green Dot’s New Test With Uber Drivers Could Drive Traffic to Its Bank

  Prepaid card provider Green Dot Corp. on Thursday announced a test with ride-sharing service Uber in which Uber drivers can be paid instantly via deposits into Green Dot’s subsidiary bank. Drivers for San Francisco-based Uber normally are paid once a week via direct deposit into financial accounts on file with …
• 16 March

  Eye on mPOS: Click a Waiter Debuts White Label POS; Aspex Lands Frontier Airlines

  Two mobile point-of-sale system providers are doing their part in the proliferation of such systems with the release of Click a Waiter Inc.’s white-label POS system and Aspex LLC’s deal with Frontier Airlines to provide an onboard POS system. Leominster, Mass.-based Click a Waiter Tuesday released a white-label version of …
• 16 March

  First Data Continues Streamlining Operations With Facilities Changes

  First Data Corp. recently closed one office in Florida and plans to close a bigger one in New York next year, but the company still added 1,000 employees to its worldwide head count last year. Newsday, the newspaper of Long Island, N.Y., reported Tuesday that First Data filed a report …
• 15 March

  A Dearth of Referrals Should Prompt ISOs to Rethink Merchant Approach, Expert Says

    Most businesses thrive on referrals from existing clients, but acquirers and independent sales organizations get a surprisingly paltry number of referrals from the merchants they process for. In fact, fewer than 1% of merchants refer other merchants to their transaction servicer, even in the face of rewards such as …