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News

January, 2014

  • 9 January

    With Marijuana Sales Now Legal in Colorado, Will the Smoke Clear on Pot Payments?

    The smoke seemed to clear a bit this week on the status of electronic payments for Colorado shops selling now-legal recreational marijuana, but the nascent merchant category still remains in what effectively is a legal no man’s land between conflicting state and federal laws. Some 20 states and the District …

  • 9 January

    Authentication Layer Helps E-Commerce Conversion Rates in Some Countries, Not in Others

    The online payment card authentication technology known as Three Domain, or 3-D, Secure, and marketed as MasterCard SecureCode and Verified by Visa, have mixed impacts on e-commerce conversion rates around the world, according to a joint study commissioned by international payment gateway Adyen and consulting firm Edgar, Dunn & Co. …

  • 8 January

    With Starbucks As Inspiration, Mercury Launches a Card And App for Small Merchants

    Noting the success Starbucks Corp. has had with its prepaid card and mobile app, Mercury Payment Systems LLC figures the small merchants it serves would like to create a similar program but lack Starbucks’s considerable resources. To bring such a program within reach, the Durango, Colo.-based merchant processor this week …

  • 7 January

    Online Game Provider Zynga Looks to Diversify Its Payment Options With a Bitcoin Test

    The Bitcoin virtual currency continued its march toward the payments mainstream with the recent announcement by online game developer Zynga Inc. that it would test Bitcoin acceptance with some of its popular games. n “In response to Bitcoin’s rise in popularity around the world, Zynga, with help from BitPay, is …

December, 2013

  • 31 December

    Research Group Picks Judge’s Overturning of Fed’s Durbin Rule as 2013’s Top Payments Event

    We couldn’t recruit David Letterman to help us with this article, but what follows are the Top 10 U.S. payments events of 2013 as identified by the Retail Payments Risk Forum, a research and industry-dialogue unit at the Federal Reserve Bank of Atlanta. 10. The Consumer Financial Protection Bureau finalized …

  • 27 December

    Target Confirms Encrypted PINs Stolen As Part of Breach, Says Debit Accounts Remain ‘Safe’

    Target Corp. on Friday confirmed that data thieves obtained customers’ encrypted debit card PINs, but said the sensitive numbers remain useless to the criminals because of the technology masking them. ”While we previously shared that encrypted data was obtained, this morning through additional forensics work we were able to confirm …

  • 26 December

    Target Denies Reports That Data Thieves’ Haul Included PINs

    Target Corp. is denying a widely circulated report that the information stolen by cyber criminals in a massive breach of credit and debit card data included customer’s debit card PINs Citing a “senior payments executive familiar with the situation,” Reuters reported early Christmas Day that the data thieves have the …

  • 24 December

    Phishers and Scammers Follow in the Wake of the Target Breach

      Target Corp. issued another update on the breach of its point-of-sale systems saying that phishers are using the incident to trick consumers into revealing sensitive information. The basic modus operandi of phishers is to send mass emails in the name of a financial institution or other company to consumers, asking them …

  • 23 December

    Target Talks With Attorneys General; Says Malware Was Involved in Data Breach

    Target Corp. on Monday held a conference call with state attorneys general and said malware was involved in its data breach that compromised up to 40 million credit and debit card accounts. The new developments follow the discount-store chain’s disclosure Thursday of a breach in the point-of-sale system for its …

  • 23 December

    DoubleBeam Buys GoPago’s POS Business; Amazon May Have a Piece, Too

    DoubleBeam Inc., a mobile retail and point-of-sale company, has bought mobile POS system maker GoPago for an undisclosed sum. This counters a report last week that suggested e-commerce giant Amazon.com Inc. acquired GoPago. San Francisco-based GoPago, founded in 2009 and backed by a 2012 investment of an undisclosed amount from …

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