News

February, 2014

• 4 February

  Target Passed a PCI Inspection Before Breach; Will Spend $100 Million on Chip Card Effort

  Target Corp. said on Tuesday that it passed its latest Payment Card Industry data-security standard (PCI) inspection a mere three months before confirming in December that a data breach compromised 40 million customers’ payment card numbers. Target also said it is fast-tracking its efforts to roll out chip card acceptance …
• 3 February

  Capitol Hill Hearings Will Shine the Spotlight on Payment-Card Security Lapses

  Merchants and financial institutions will find their information-protection practices under intense scrutiny this week in Washington, where no fewer than four Senate and House of Representatives hearings are scheduled in the wake of payment card data breaches at Target Corp., Neiman Marcus Group and other merchants. The sessions kick off …
• 3 February

  Paydiant Expects Another Big Retailer To Debut Its Mobile Payment App Soon

  Another large retailer, with as many as 100,000 locations, will begin using a mobile payments app developed by Paydiant Inc. within the next few weeks, Jed Rice, senior vice president of business development, told attendees at the Northeast Acquirers Association conference last week in West Dover, Vt. n He also …

January, 2014

• 30 January

  Visa Sticks to EMV Deadline; CEO Decries Data-Breach Blame Game and ‘Misinformation’

  Visa Inc. chief executive Charles Scharf on Thursday quelled rumors that the payment network might change its October 2015 liability-shift deadline for Europay-MasterCard-Visa chip card transactions. Scharf also decried what he called “misinformation” and “confusion” about card security following December’s news of Target Corp.’s huge payment card data breach and …
• 30 January

  Alleging Deceptive Pricing Tactics Lured Away Merchants, Heartland Sues Mercury

  Heartland Payment Systems Inc. on Wednesday filed a federal lawsuit against Mercury Payment Systems LLC alleging deceptive pricing by Mercury allowed it to lure scores of merchants away from Heartland and attract prospects to Mercury that had been weighing the two companies for payment-processing services. Heartland’s suit, filed in U.S. …
• 29 January

  Mitek Pictures Itself as a New Tech Provider in Mobile Biller-Direct Payments

  Mobile-imaging software developer Mitek Systems Inc. on Wednesday announced its Mobile Photo Payments application that enables large billers to receive bill payments from consumers using their mobile devices. The service complements San Diego-based Mitek’s existing Mobile Photo Bill Pay product, which rolled out last year and is distributed mainly through …
• 29 January

  Big-Time Data Breaches Lift Big-Data Fraud Fighter Feedzai As It Launches U.S. Operation

  In the wake of the recently discovered data breaches at major merchants like Target Corp., Neiman Marcus Group, and Michaels Stores, much of the talk in the payments industry has focused on whether more advanced card technology, like chip cards, might have mitigated the risk of fraud. But one ambitious …
• 29 January

  ISOs and Acquirers Advised Against Waiting To Make Their EMV Migration Moves

    With 20 months to go until a major liability shift associated with the migration of the U.S. payment system to chip card, independent sales organizations and acquirers should not wait to get themselves and their merchants ready for the October 2015 deadline, advised Leland S. Englebardt, group head of …
• 28 January

  U.S. Treasury Seeks Bank Bidders for Its Controversial Direct Express Prepaid Card

  The U.S. Treasury Department this month began soliciting bids from banks to run its Direct Express prepaid card for Social Security recipients and other beneficiaries. The card program is currently run by Dallas-based Comerica Bank and has encountered political controversy in Washington. Treasury’s Bureau of the Fiscal Service is taking …
• 27 January

  PayPros Deal Supports Global’s Strategy, But Not at Expense of ISOs, Company Says

    Global Payments Inc.’s $420 million deal to buy integrated payments-software maker Payment Processing Inc., or PayPros, is furthering its strategy as the payment processor looks to grow its direct sales, says a Global Payments spokeswoman. Atlanta-based Global Payments announced the deal Friday to buy the Newark, Calif.-based PayPros, which …