PayByPhone Technologies Inc., which runs mobile-payment programs for parking in half a dozen U.S. cities, is looking for ways to serve relevant offers to users of its system, a top executive with the company said Thursday. n The offers, for example, could include discounts at stores or restaurants near where …
February, 2014
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26 February
First Data’s Star Network Casts Its Lot With Visa’s Identifier for Chip-Card Transaction Routing
Payment processor First Data Corp.’s Star electronic funds transfer network on Wednesday said it would license Visa Inc.’s so-called common application identifier (AID) that will facilitate chip-based debit card transactions compliant with the transaction-routing requirements of the Durbin Amendment in 2010’s Dodd-Frank Act. The agreement with Visa could give Star, …
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25 February
Mt. Gox Bitcoin Exchange Goes Dark, Leaving Bitcoin Owners With Questions
Mt. Gox, a well-known Bitcoin exchange, has shut down, leaving investors who had Bitcoins at the digital-currency exchange wondering what’s next. Bitcoin is a decentralized digital-payment system based on mathematically derived new Bitcoins coming into circulation by so-called “miners” using computers. News service Reuters reports today that the exchange …
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24 February
Neiman Marcus Downsizes by Two-Thirds Its Tally of Cards Compromised in Breach
In a rare piece of good, or least not as bad, news about the recent retailer payment card data breaches, upscale department-store chain Neiman Marcus Group says about 350,000 cards were compromised by the breach it disclosed in January, down from its earlier estimate of 1.1 million. The number of …
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24 February
By Snapping up C-Sam, MasterCard Bolsters Mobile Capability, Matches Rivals
MasterCard Inc.’s purchase Monday of C-Sam Inc., a mobile wallet technology company, boosts the card brand’s ability to provide mobile wallet services via a variety of payment methods, suggests a payment analyst. MasterCard paid an undisclosed amount for the Oakbrook Terrace, Ill.-based C-Sam, which began offering a mobile wallet …
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20 February
EMV Chip Cards and Revenue Streams Worry Independent ATM Deployers
The coming of Europay-MasterCard-Visa (EMV) chip cards along with pressures on interchange and surcharge revenues are the top three concerns of U.S. ATM independent sales organizations and other retail deployers, according to survey results from the ATM Industry Association. The trade group’s annual survey of what’s on its members’ minds …
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20 February
Loop Mobile Wallet Debuts With Expectation of Near Ubiquitous Acceptance
Loop, a mobile wallet that uses a case or fob to generate its own contactless field to communicate with many payment terminals, has launched for the latest iPhone models. The brainchild of payments veterans George Wallner, founder of point-of-sale terminal maker Hypercom Corp., now Equinox Payments LLC, and Will …
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19 February
MasterCard, Visa Release Specs To Enable NFC Payments That Bypass the Secure Element
A form of near-field communication that does not require a secure element to complete a mobile payment now has the formal backing of card brands MasterCard Inc. and Visa Inc. Each of them announced today their respective contactless payment schemes support so-called host card emulation. Host card emulation got a …
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19 February
Capital One Buys Into Big Banks’ clearXchange P2P Payment Service
Card issuer and bank Capital One Financial Corp. has bought into the clearXchange person-to-person payment company, becoming the fourth owner. Founded in 2011, clearXchange was started by Wells Fargo & Co., Bank of America Corp. and JPMorgan Chase & Co., with the idea of leveraging a consumer’s existing relationship …
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18 February
Mobile Payments Growth Fuels Apriva’s $9.55 Billion in 2013 Transaction Volume
Mobile point-of-sale payment provider Apriva marked $9.55 billion in transactions through its payment gateway in 2013, a 17.3% increase from $8.14 billion in 2012, fueled by growth in mobile payment acceptance, cashless vending, and its gateway service. Mobile POS payments, in particular, saw exceptional growth in 2013 versus 2012. Apriva …