News

June, 2015

• 16 June

  As Real-Time P2P Heats up, Acculynk’s PIN-Based Payzur Banks on Network Links

  When Acculynk Inc. introduced its Payzur person-to-person payments service two years ago, it saw it as a way of leveraging the company’s virtual PIN-pad technology along with PIN-debit networks to enable faster, guaranteed payments between individuals. n Last month, MasterCard laid down a gauntlet with its MasterCard Send, a back-end …
• 15 June

  Tokenization Efforts May Not be as ‘Disjointed’ as They Appear, Says New Fed Report

  There may be a number of competing definitions and products already in the market and under development, but the current state of payments tokenization may not be as out of whack as some may think. That’s the assessment of the latest report from the Mobile Payments Industry Workgroup, whose members …
• 15 June

  How ClearXchange’s New Real-Time Payments Service Goes Beyond the P2P Market

  The clearXchange payments service owned by five of the nation’s six largest banks on Monday announced a real-time payments service that includes not only its original person-to-person payments franchise but also business-to-consumer payments. Mike Kennedy, chief executive of San Francisco-based clearXchange, tells Digital Transactions News that the system is live …
• 12 June

  Shazam Builds an Answer to Non-Bank P2P Services To Keep Banks ‘In the Game’

  Now that companies like Dwolla Inc., Facebook Inc., Microsoft Inc., and Square Inc. are making headlines with actual or expected services for a booming person-to-person payments market, financial institutions are scrambling to come up with solutions for their customers. One popular option is to leverage the automated clearing house network, …
• 11 June

  FANF’s Offspring: Debit-Network Participation Fees

  With little fanfare, some of the nation’s major PIN-debit networks over the past couple of years have instituted so-called participation fees that are assessed for each merchant location in the network. The fees’ progenitor, says a veteran market observer, is Visa Inc.’s Fixed Acquirer Network Fee (FANF), which Visa instituted …
• 11 June

  COMMENTARY: How to Pick a Payment-Processing Provider the Smart Way

  By Dan Leberman Every business owner needs to process customer payments, but selecting a payment processor can be very confusing. To make the selection simpler, get started by identifying and prioritizing the most important factors for your business. Based on PayPal’s own best practices, here are top considerations for every …
• 11 June

  Mobile Commerce on Smart Phones Accounts for 18% of Online Orders, Demandware Reports

  U.S. consumers shopping online in the first quarter of 2015 used smart phones to place 18% of all online orders. That’s according to the Demandware Shopping Index. Demandware Inc. is a Burlington, Mass.-based e-commerce platform. The index found that smart phones, too, accounted for 38% of the overall Web traffic …
• 10 June

  Bitcoin Users Match Stereotype, But Are Wealthier, Adopt Later, Than Thought

  By John Stewart The digital currency Bitcoin has attracted plenty of headlines, and has even gained enough of a foothold economically to prompt regulation, with the state of New York introducing the first BitLicense last week. But while the Bitcoin concept may be spreading its wings, the Bitcoin user base …
• 10 June

  Merchant Attrition Dipped in 2014 But Larger ISOs And Acquirers Saw Less Benefit

  Merchant attrition fell to 21% in 2014, down from 22% in 2013, reflecting continuing merchant use of specialty point-of-sale software that helps them run their businesses in addition to enabling payment acceptance, finds a report from Adil Consulting. The report, “Merchant Attrition: Strategies, Tactics, Best Practices & Industry Benchmarking,” examines …
• 9 June

  How Targeting Criminals’ Sky-High ROI Can Help Thwart Online Fraud

  Criminals targeting payment card data have a very hefty incentive, suggests the Trustwave 2015 Global Security Report. How much of an incentive? The return on investment in one example is 1,425%. Released Tuesday, the report quantifies the return on investment for a common type of online fraud, suggesting strategies to …