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News

December, 2014

  • 11 December

    United To Use iPhones as Payment Terminals on Flights

      United Airlines is equipping more than 23,000 flight attendants with Apple Inc.’s iPhone 6 Plus smart phone to be used as a payment-acceptance device on flights. Distribution of the devices is expected to begin in the second quarter. United says the devices will be able to handle most onboard …

  • 11 December

    With Direct Service, Dwolla Streamlines Payments to Persons Without Dwolla Accounts

    Dwolla Inc. has entered the race to simplify—and ultimately speed up—payments between individuals and between organizations and individuals. Starting Thursday, the 6-year-old Des Moines, Iowa-based payments provider is allowing people who don’t have Dwolla accounts to receive payments from Dwolla users and flow them directly into their bank account. The …

  • 10 December

    Gateway Charge Anywhere Discloses a Breach Affecting Undisclosed Number of Credit and Debit Cards

      Chalk another payment-card data breach up for the bad guys. Payment gateway Charge Anywhere LLC announced Tuesday it discovered a breach of its payments network. It says it has shut down the malware that caused it. South Plainfield, N.J.-based Charge Anywhere said the malicious software, which was discovered Sept. …

  • 10 December

    Gift Card Sales To Surpass $124 Billion in 2014

      Gift cards sales in 2014 will top $124 billion in the United States, but that comes amid slowing growth, says a new report from CEB TowerGroup. The Arlington, Va.-based advisory firm predicts that gift card sales will see annual growth rates from 5% to 6% through 2017, an indication …

  • 10 December

    Discover Forecasts $35 Million in 2015 EMV Costs and Is ‘Open for Business’ in Mobile Payments

    Discover Financial Services expects to incur $35 million in incremental costs next year for Europay-MasterCard-Visa chip card issuance and acceptance, chief executive David W. Nelms said Wednesday. Nelms also said Discover will be an active player in mobile payments. Nelms made his remarks at an investor conference sponsored by The …

  • 9 December

    NACHA Opens Comment Period for Its New Proposal to Launch Same-Day ACH Settlement

    NACHA on Tuesday opened for comment a sweeping proposal to introduce a same-day settlement mechanism for the automated clearing house network. The comment period will run through Feb. 6, the regulatory body for the ACH announced. If the proposal is approved, the ACH network will process almost 1.4 billion same-day …

  • 9 December

    Chick-fil-A Serves Up a Mobile Payment And Ordering App

      Fast-food restaurant chain Chick-fil-A Inc. has jumped into the mobile-payments frying pan with the debut Monday of a mobile payment and ordering app. Atlanta-based Chick-fil-A says the app, available for iOS and Android smart phones, can be used for mobile ordering at 130 Chick-fil-A restaurants in Atlanta, Chicago, Houston, …

  • 9 December

    The FIDO Alliance Releases Version 1 of Its Post-Password Online Authentication Standard

    The Fast IDentity Online (FIDO) Alliance, a non-profit with more than 150 members in banking, payments, technology, and other industries, on Tuesday published its first standard for a better system of online authentication than the common but vulnerable user name and password. “Today, we celebrate an achievement that will define …

  • 9 December

    Will the Persistence of Checks Undermine Efforts To Build Faster-Payments Systems?

    Financial institutions, processors, and regulators have been moving toward systems that speed up electronic payments, but ironically their success in replacing paper checks with electronic processing may undermine their efforts. That’s because image exchange, the process by which paper checks are replaced by electronic images for clearing, has driven down …

  • 8 December

    COMMENTARY: Think Apple Pay is the Biggest Thing in Payments? You’re Missing the Poynt

    By Rick Oglesby, Double Diamond Payments Research Apple Pay was the talk of the Money20/20 trade show last month, but should it have been? Before Apple Pay can become a dominant payment vehicle, merchants need the ability to accept it (only about 2% of merchant locations can do so today), …

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