Digital Transactions Authoritative, insightful and timely information for payments professionals
Within a week, four more major retailers—ExxonMobil, Sears, Shell Oil, and WalMart—will join the CurrentC pilot that started last month in Columbus, Ohio. That’s according to Brian V. Mooney, a long-time processing executive who took over in April as interim chief executive of the mobile wallet’s sponsor organization, Merchant Customer …
October, 2015
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12 October
The Double-Edged Sword of Tokenization Helps Issuers But Also Poses a Subtle Threat
By John Stewart The rise of tokenization into a major payments business helps enable enterprises like Apple Pay and Android Pay but could also pose a threat to the financial institutions that have historically issued the majority of the cards consumers use most often. That threat lies in the fact …
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12 October
The ABA Says the FBI Was ‘Receptive To Getting It Right’ About PINs and EMV Cards
The American Bankers Association seems to have persuaded the Federal Bureau of Investigation to do something the Bureau rarely ever does, at least in public: change its mind. The FBI’s original position was the consumers should enter a personal identification number whenever possible when using their new EMV chip cards. …
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11 October
FBI Notice Warning Consumers To Use PINs With EMV Cards Gone; ABA Protest the Cause?
A public service announcement the FBI posted Thursday warning consumers that the new EMV chip cards “are vulnerable to exploitation by fraudsters” and urging them to enter a PIN instead of a signature during EMV credit card transactions was removed Friday, apparently at the behest of the leading banker trade …
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9 October
With NFC Finally Getting a Foothold, More Uses Could Mean More Payments, Experts Say
Finding more ways to incorporate near-field communication (NFC) technology into everyday objects could eventually mean more payments. At least that’s the future as envisioned by panelists at the NFC Solutions Summit this week in Phoenix. Sponsored by the Smart Card Alliance, the conference examined ways NFC technology, which enables wireless …
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8 October
Universal Offers Standards, Digital IDs Needed To Drive Wider Mobile-Wallet Adoption
Consumer confusion, lack of standards for offers, and splintered merchant acceptance continue to impede mobile-wallet adoption among consumers, but they are not expected to thwart the long-term prospects for the payments model, suggested panelists on Wednesday at the NFC Solutions Summit in Phoenix. Near-field communication (NFC) technology not only can …
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8 October
Eye on Mobile: How the Phone Is Steadily Taking Over Online And P2P Payments
Two reports released Thursday point up the accelerating rate at which consumers are turning to a mobile device rather than a PC to pay an online merchant or another person. The news comes as major tech players like Apple Inc., Google Inc., PayPal Holdings Inc., and Samsung Electronics Co. Ltd. …
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7 October
Live Nation Whets Its POS Appetite With a Big Mobile and Fixed-Unit Deal from Appetize
Venue operator Live Nation Entertainment will install more than 4,400 fixed and mobile point-of-sale devices supplied by cloud-based mobile point-of-sale maker Appetize in 32 venues, Appetize announced Tuesday. Four-year-old Appetize says this is its largest single POS deployment yet. About half of the devices in the Live Nation deal …
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7 October
Much Taken With Selfies, Millennials Also Like Mobile Capture, Survey Shows
Lately, the payments industry has been much taken with the so-called Millennial generation and how to appeal to it. Research released Wednesday indicates a key to this question is to take advantage of the one smart-phone activity the 18-to-34 age group has made famous: the selfie. The research, conducted by …
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6 October
Tokenization’s Fast Rise Will Likely Attract Rivals for the Big Three Networks, Report Says
By John Stewart Just within the past year or so, tokenization has assumed a central role in digital payments, and in that business three major card networks are the dominant—indeed, only—players performing a crucial function known as the token service provider. But this new form of payment processing is moving …