News

June, 2015

• 18 June

  MyCheck’s Mobile App Climbs in the Tech Race, Adds Twin Peaks as a User

  The MyCheck mobile app is gaining some ground in a crowded field of applications that enable consumers to order and pay restaurant tabs. New York City-based MyCheck LLC announced Thursday that the 68-location Twin Peaks restaurant chain will offer its iOS and Android white-label app to customers for payments and …
• 16 June

  POS Fraud Slipping, but Watch Out for Account Takeovers and Online Fraud: Report

  Point-of-sale payment card fraud will be easing off thanks largely to the introduction of EMV chip card payments to the United States in the next few years. But fraudsters, according to a new report from Javelin Strategy & Research, will be back in stores armed with cards using stolen credentials …
• 16 June

  With Certification in Hand, Pivotal Aims FlexPoint Encryption Service at ISVs, VARs

  Independent sales organization Pivotal Payments Inc. says its FlexPoint point-to-point encryption service for point-of-sale software systems has been certified by its processor, Total System Services Inc. (TSYS). FlexPoint, which launched in 2014 in Canada, encrypts payment data directly on the payment device and sends the encrypted data directly to the …
• 16 June

  First Data Launches Clover Mini, a Compact Version of its Clover Station POS Technology

  First Data Corp. has added the Clover Mini to its roster of tablet-based point-of-sale products, the Atlanta-based processor announced Tuesday. The device has the same capabilities as the countertop-sized Clover Station, but in a 7-inch screen. The Clover products offer merchants the ability to add a wide variety of apps …
• 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 …