News

July, 2015

• 14 July

  An Exception to the Rule, SECU Issues PINs for Its EMV Cards, But Usage Is Another Story

  The United States appears to be making steady progress in its conversion to the EMV chip card standard. Some 120 million chip cards were issued by the end of last year, a figure expected to balloon to 600 million by the end of 2015, according to the EMV Migration Forum, …
• 13 July

  Bitcoin Revisits $300-Plus Territory as Greece Grapples With Stringent Bailout Plans

  The price of Bitcoin, which has languished under $300 for more than six months, briefly shot past that milestone over the weekend, only to close lower in trading later Sunday. The digital currency, which traded well over $600 a year ago before beginning a slide that saw it plunge below …
• 10 July

  With Wallets in View, PayPal Bets on an All-in-One EMV, NFC, Mag-Stripe Reader

  PayPal Inc.’s plans to include three payment technologies—magnetic stripe, contactless, and EMV—in its upcoming mobile point-of-sale device could help the payments company capitalize on growing interest in mobile wallets. Many companies are betting on mobile wallets. But part of the ante is ensuring consumers can use their stored credit and …
• 10 July

  Bipartisan Senate Bill Would Ease Marijuana Businesses’ Access to Banking Services

  A bill introduced Thursday with bipartisan backing in the U.S. Senate would prevent federal regulators from cracking down on banks that provide financial services to legal marijuana businesses. The bill, similar to one pending in the House of Representatives, aims to rectify the lack of access many recreational and medicinal …
• 9 July

  Not Your Father’s ISO: How Tech Is Forcing Acquirers To Make a Crucial Choice

  By John Stewart When the Internet, and then mobile and cloud-based technology, began to radically change the acquiring business, some independent sales organizations thought they could adapt by becoming software companies without changing the way they do business. They were wrong, and that mistake is costing them dearly, argues Rick …
• 9 July

  AmEx Joins Battle at Online Checkout With An ‘UnWallet’ Built for Its Cards

  By John Stewart With Visa Inc. and MasterCard Inc. making headway with online merchants with their streamlined checkout services, it was only a matter of time before network rivals introduced their own versions. American Express Co. did just that Thursday, announcing what it is calling an “unwallet” to allow its …
• 9 July

  As the Spinoff Looms, Investors Eagerly Await Unlocked Value in the Post-eBay PayPal

  By Jim Daly Next week’s planned split of PayPal from parent company eBay Inc. has payments investors anticipating that plenty of locked-up value and growth opportunities will be released for the online payments leader. PayPal began trading on a so-called “when-issued” basis Monday on the Nasdaq Stock Market under the …
• 9 July

  The CFPB Weighs in With Guidelines to Protect Consumers Using Faster Payments

  The federal Consumer Financial Protection Bureau on Thursday issued nine guidelines summarizing its vision for faster payments as banks, payment processors, tech companies, and other government regulators continue work on proposals for improving U.S. payments. “Companies developing new financial technologies should be building systems from the outset with consumer protections …
• 8 July

  Smart Phones Increase Dominant Grip on Mobile Payments, Adyen Report Shows

  Smart phones continue to dominate mobile payments made by consumers, garnering 64.1% of all such mobile transactions in the second quarter of 2015, reports the Adyen Mobile Payments Index. That’s an increase from 61.8% in the first quarter, and handily bests mobile transactions made with tablets. The use of tablets …
• 7 July

  Cardtronics To Lose Its Biggest Customer as 7-Eleven Shifts ATM Operations to Affiliate

  By Jim Daly Retail ATM network owner and manager Cardtronics Inc. reported Tuesday morning that its biggest merchant customer, Dallas-based 7-Eleven Inc., picked a corporate affiliate to run its U.S. ATM fleet when the leading convenience-store chain’s 10-year placement contract with Cardtronics expires in July 2017. 7-Eleven accounted for 17.5% …