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News

May, 2014

  • 8 May

    Government Probe of POS Rules Gets New Life as DoJ Case Against AmEx Proceeds

    A U.S. Department of Justice lawsuit alleging anti-competitive behavior by American Express Co. can proceed, a judge in the U.S. District Court for the Eastern District of New York ruled Wednesday. Seventeen states also are plaintiffs in the case. n The case is important because of the government’s continuing inquiry …

  • 8 May

    Chase To Discontinue Its Blink Contactless Card, But It’s Unlikely To Slow EMV Migration

    Citing little enthusiasm by either consumers or merchants for contactless card payments, JPMorgan Chase & Co. has quietly begun informing cardholders that it is discontinuing its blink contactless program. While at first glance blink’s demise seems like a setback for chip-based card payments in the United States, it is unlikely …

  • 8 May

    Stockpile Emerges To Offer Digital Gift Cards Backed by Stock to ‘Everyday’ Consumers

    A new type of gift card is set to debut this summer that will be backed not by cash but by shares of stock. The virtual card will come from a startup called Stockpile Inc., which has created a waiting list for interested potential accountholders and is planning to market …

  • 6 May

    U.S. Readiness for EMV at a Low Ebb Despite Looming Deadline, Report Warns

    By John Stewart With a crucial deadline looming in 2015, the U.S. payments industry will have only partially converted to the Europay-MasterCard-Visa (EMV) chip card standard by the end of that year. Indeed, it will likely take years to equip small merchants especially to accept EMV, according to a report …

  • 6 May

    Chicago Test of Mobile Payments for Parking Accelerates Into Massive City Rollout

    The private operator of Chicago’s 36,000 parking meters announced Tuesday that drivers will be able to pay with mobile phones at all of the city’s metered street spaces later this summer. The expansion reportedly makes Chicago the biggest market for mobile parking payments in the country and comes just three …

  • 6 May

    TSYS Lines Up Behind ShopKeep’s Tablet-Based POS System

    Tablet-based point-of-sale provider ShopKeep.com Inc. has lined up payment-processor Total System Services Inc. (TSYS) as a reseller. Columbus, Ga.-based TSYS will offer ShopKeep products in addition to traditional POS terminals, contactless readers, mobile payments, and online payment acceptance. TSYS say it added ShopKeep because it knows merchants have a need …

  • 1 May

    CEO Says ‘Singles And Doubles’ Are Helping MasterCard To Win New Business

    Despite the impending loss of consumer payment cards from mega-bank JPMorgan Chase & Co., MasterCard Inc. is winning new business from U.S. card issuers, its top executives said Thursday at the No. 2 payment card network’s first-quarter earnings call. U.S. credit card purchase volume grew 8.1% year-over-year to $138 billion …

  • 1 May

    With 2Checkout Enabling International Payments, Shopify Hopes To Keep Its Growth Going

      Shopify Inc. can eliminate learning new languages from its list of objectives. The online-commerce company announced this week it was adding 2Checkout’s payment technology, which processes payments in 26 currencies in 196 countries, to its POS software. The move does not displace the back-end payment-processing compact between Shopify and …

April, 2014

  • 30 April

    First Data Reduces Loss Despite Merchant-Acquiring and Debit Card Headwinds

    Leading payment card processor First Data Corp. on Wednesday reported it lost less money in the first quarter than it did a year earlier despite price compression in its merchant-acquiring business and slow debit card transaction growth. Atlanta-based First Data typically posts an operating profit but a net loss after …

  • 29 April

    Host Card Emulation Takes Another Step with Key Sequent Software Issuance Solution

    Sequent Software Inc. on Tuesday launched a solution that will let card issuers take advantage of so-called host card emulation, a protocol that allows issuers to provision digital cards for mobile payments while bypassing the phone-based secure element. With the new solution, issuers will also be able to embed their …

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