News

September, 2013

• 29 September

  As Judge Mulls Settlement, a Thorny Issue over Merchant Claims Roils the Court

  All eyes in the payments business were riveted on Brooklyn earlier this month as lawyers wrangled in federal court over the proposed credit card interchange settlement. What many interested parties—including most observers in the courtroom that day–may have missed, however, is that the hearing brought to light for the first …
• 26 September

  Fast-Growing Braintree Brings Merchant Focus, Market Share to PayPal Wallet, Observers Say

  EBay Inc.’s agreement to shell out $800 million for Braintree Payments Solutions LLC, announced on Thursday, signals the online auction giant’s desire to extend its PayPal brand further into mobile commerce and in-store commerce, analysts suggest. EBay’s confirmation of the deal, which is expected to close in the fourth quarter, …
• 26 September

  ‘Medium-Sized’ Changes on Tap With PCI’s Pending Version 3.0

    The upcoming Version 3.0 of the Payment Card Industry data-security standard (PCI) is being billed as having more than a few tweaks but not wholesale changes from the three-year-old Version 2.0 that it will replace in November. “It’s a medium-sized change,” says Anton Chuvakin, research director, security and risk …
• 25 September

  In Helping out Archrival Square, Intuit May Have More To Gain Than To Lose

  At first glance, it looks like a lopsided collaboration between competitors, but the agreement by which mobile point-of-sale upstart Square Inc. will integrate Intuit Inc.’s popular QuickBooks accounting software may end up benefiting both parties equally, some observers say. Under the deal, announced on Tuesday, users of the Square Register …
• 25 September

  Post-VeriFone, Bergeron Runs a $500 Million Warchest To Buy Payments Companies

  By Kevin Woodward   Six months after leaving point-of-sale terminal maker VeriFone Systems Inc., Douglas G. Bergeron is leading a new enterprise targeting financial-services and payments companies for acquisition.   Dubbed Opus Global Holdings LLC, the new company has $500 million at its disposal to buy companies. Bergeron is collaborating …
• 24 September

  Selection of Galant As New Boss Suggests VeriFone Will Keep Spotlight on Services

  VeriFone Systems Inc. on Monday named Citigroup executive Paul Galant as its chief executive, ending a six-month quest for a permanent top executive. Galant replaces interim chief executive Richard McGinn, who assumed that role in March when long-time chief executive Douglas G. Bergeron left the San Jose, Calif.-based point-of-sale terminal …
• 24 September

  By Snagging Official Payments, ACI Bolsters Client Base, Recurring Revenue

  ACI Worldwide Inc.’s $109 million deal to buy Official Payments Holdings Inc. is a bid to grow its transaction volume and pairs well with its January purchase of Online Resources Corp., analysts suggest. Official Payments is a processor that specializes in online payments to government entities. ACI Worldwide is paying …
• 24 September

  Make Payments Faster, And Stop Trying to Start New Networks, Fed Conference Speakers Say

  When it comes to payments, the United States might be considered the land of the gap, according to a Federal Reserve assessment issued earlier this month. The assessment is the first of a three-part research study aimed at spurring the modernization of U.S. electronic payments, which many public-sector researchers and …
• 20 September

  Phishing Attacks Drop, But Brand Targets Soar As Phishers Cast More Lines

  Phishers are casting their lines at more brands in hopes of luring Internet users into divulging data that they can use fraudulently, according to a new study from the Anti-Phishing Working Group (APWG). According to the study, which covers the first half of 2013, criminals targeted 720 brands, up almost …
• 19 September

  Another Google Wallet Breakthrough: an App for Apple’s Popular iPhone

  By Jim Daly In its second major Google Wallet announcement of the week, search-engine giant Google Inc. today said it is bringing the digital wallet for the first time to Apple Inc.’s iPhone, a move that opens the wallet to tens of millions of potential new users. And like Tuesday’s …