News

November, 2013

• 14 November

  Within Five Years, Caps on Credit Card Interchange Are Likely, According to a DTN Poll

  With debit card interchange rates already regulated, a majority of respondents to a Digital Transactions News poll consider caps on credit card interchange within five years as very likely. n Though no such legislation is under review at this time, the response suggests few would be surprised should it appear. …
• 13 November

  Survey Revealing Undisclosed Intrusions Indicates Data Breaches Are Under-Reported

  The actual number of data breaches taking place in the United States may be much higher than generally understood, if a recent survey of corporate security professionals is any indication. The canvass of some 200 so-called malware analysts working for large and small enterprises revealed that fully 57% have dealt …
• 13 November

  Square Eliminates Deposit Holds And Drops Unpopular Monthly Pricing Plan

  In two moves to attract and retain merchants, Square Inc. on Wednesday announced that it has eliminated holds on merchant deposits as well as deposit limits on U.S. transactions, and will drop a monthly pricing plan that the mobile-payments processor says merchants didn’t like. The new deposit policy applies to …
• 12 November

  Despite Signs of Progress, Small Merchants Still Lag on Risk Assessment And PCI

  Coming on the heels of the release last week by the PCI Security Standards Council of a revised Payment Card Industry data-security standard (PCI) is a report Tuesday that shows how much progress small merchants are making in locking down card data—and how painfully slow much of that progress has …
• 12 November

  NACHA Proposals for Reducing Exceptions Include New Fines for Sloppy and Risky Originators

  In an effort to reduce the volume of returned transactions and motivate banks to crack down on originators of incorrect or risky automated clearing house payments, ACH network governing body NACHA today proposed two new rules to improve transaction quality. One would set new fines that the network could assess …
• 7 November

  The PCI Council Unveils Its ‘User-Friendly’ Version 3.0 of the PCI Security Rules

  Better management of passwords and prevention of point-of-sale terminal tampering are just two features of the new Version 3.0 of the Payment Card Industry data-security standard that the PCI Security Standards Council unveiled Thursday. On its surface, Version 3.0 looks much the same as the previous edition, 2.0, which the …
• 7 November

  A New Harbortouch POS Terminal Incorporates EMV and NFC Payments

    Independent sales organization Harbortouch has released a new payment terminal that incorporates near-field communication, a smart card reader and a magnetic-stripe reader. Dubbed Perkwave, the terminal, which carries no cost except for transactions processed through it, includes a contactless card reader adorned with a consumer-facing display. Point-of-sale device maker …
• 7 November

  Insurer Enables Auto Policy Selection and Payment Via its Kiosks

    Consumers in Tennessee shopping for car insurance from Direct Auto Insurance have a new option to select a policy and pay for it using the insurer’s Direct on the Spot kiosks. Set up in 18 Direct Auto Insurance locations, the kiosks are designed to broaden the insurer’s reach among …
• 7 November

  Isis Official Gives a Broad Peek at Product Plans for 2014, Following National Rollout

  A wider array of payment cards and more finely targeted advertising are among the features and capabilities the Isis mobile-payments venture previewed on Thursday for possible launch in 2014, following the venture's national rollout. In pulling back the curtain, however, the venture, which is backed by mobile-network behemoths AT&T Mobility, …
• 6 November

  Google’s NFC Move Hands New Opportunity to ISOs, But Much Depends on Carrier Reaction

  Independent sales organizations and other acquirers could exploit Google Inc.’s move to decouple mobile payments based on near-field communication technology from a phone-based secure element, observers say. At the same time, much depends on how the mobile carriers, which have held tight control over the secure element, react to Google’s …