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News

August, 2014

  • 11 August

    The CFPB Warns About the ‘Wild West’ of Virtual Currencies

    Already eyed with suspicion by various arms of the federal government and states, virtual currencies now are the subject of a warning issued Monday by the federal Consumer Financial Protection Bureau. The CFPB released a six-page advisory about the risks consumers face when using new forms of electronic money. “Virtual …

  • 7 August

    Eye on Security: Visa Pumps Up Gas-Station Analytics; PCI Council Issues Guidance on Third Parties

    Visa Inc. on Thursday announced a new network service to flag high-risk transactions at fuel pumps, and the PCI Security Standards Council published guidance to help merchants and other organizations that handle payment card data manage their relationships with third parties to whom their outsource data-security tasks. n Visa calls …

  • 7 August

    Future U.S. EMV Card Shipments Could Garner A Larger Share: Report

      Shipments of smart cards capable of payments that adhere to the Europay-MasterCard-Visa (EMV) standard are expected to be six times greater in 2014 than in 2013 in the United States, says a new report from ABI Research. That total, forecast to be 154 million this year, is not a …

  • 6 August

    COMMENTARY: Chip, Signature, And Square—Perfect Together

    Rather than jumping to conclusions about the implications of Square Inc.’s decision last week to implement a Europay-MasterCard-Visa (EMV) chip card solution that forgoes PINs and instead relies on a signature at the point of sale, it’s important to first ask the question: Why would a payments disruptor and tech …

  • 6 August

    Type of Merchant, Customer Base Dictate Which Merchants Should Act First on EMV

    With a major deadline arriving in October 2015, U.S. payments players are expected to be busy in the coming months converting systems to be compliant with the Europay-MasterCard-Visa chip card standard. But with liability for counterfeit card fraud shifting in 14 months to the party not prepared for EMV, how …

  • 5 August

    Payments Companies Push ISVs And VARs To Move Fast To Sell Mobile Tech to Merchants

    Stressing such factors as the rapid growth of mobile commerce and the advantages of streamlined integration, representatives from Discover Financial Services, Mercury Payment Systems LLC, and PayPal Inc. on Tuesday urged a roomful of point-of-sale technology resellers to begin moving quickly on selling mobile payments to retail clients. “I would …

  • 5 August

    Target’s Data Breach Costs Now Total $236 Million

    Target Corp. on Tuesday issued an update on its data-breach expenses for the second quarter that brings total costs to $236 million, including expenses in the first quarter and late 2013. The Minneapolis-based retailer expects gross breach-related expenses in the second quarter to be $148 million, offset by $38 million …

  • 4 August

    Continuing a Consolidation Trend, Four Southern ACH Associations Will Merge Jan. 1

    Four regional automated clearing house associations in the South will merge Jan. 1 under the name of PaymentsFirst Inc. The merger may be the biggest one yet among regional ACH associations in terms of participants and furthers the long-standing trend of smaller, mostly state-based ACH organizations pooling their resources as …

  • 4 August

    Merchant Warehouse Strikes Deal to Integrate PayPal into Its Genius Point-of-sale Platform

    Merchant acquirer and payment-technology developer Merchant Warehouse is adding PayPal acceptance to its Genius point-of-sale platform, the Boston-based company announced Monday. Merchant Warehouse’s Genius system enables merchants to accept payments and to manage services like loyalty, mobile commerce, gift, and rewards programs. PayPal is activated remotely, requiring no action by merchants. …

July, 2014

Digital Transactions