News

December, 2011

• 6 December

  A Spat over NFC Keeps Google Wallet out of Verizon’s New Smart Phone

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• 5 December

  Vending Machine Network Gives MasterCard Debit Cards the Boot

  In a marked escalation of a conflict that began when MasterCard Inc. and Visa Inc. raised small-ticket debit card interchange rates, USA Technologies Inc. has stopped accepting MasterCard debit cards in its wireless network of 100,000-plus vending machines and other unattended card-accepting locations. The Malvern, Pa.-based operator turned off MasterCard …
• 2 December

  Security Worries Arise As Mobile Payments Begin Their Ascent

  The promise of mobile devices to generate new payment transactions and better service for bank customers comes with a big potential downside. Risk-control executives strongly believe fraudsters have their eyes on smart phones and related mobile devices, according to new research from Aite Group LLC. Asked if “mobile fraud is …
• 1 December

  Aiming to Jump-Start NFC with Banks, MasterCard Pours Money into mFoundry

  In a move that could bring mobile payments based on near-field communication (NFC) to a wide array of financial institutions, MasterCard Inc. on Thursday announced it will provide its PayPass contactless-payment technology to mFoundry Inc., a Larkspur, Calif.-based vendor of mobile-banking software. MasterCard also invested an undisclosed sum in mFoundry, …

November, 2011

• 30 November

  Having Started with Big Chains, Mobile Point of Sale Begins to Filter Down to Smaller Retailers

    With the increasing popularity of smart phones and other mobile gadgets, major brick-and-mortar retail chains like Home Depot and Nordstrom began adopting mobile point-of-sale systems this year. And now smaller chains have begun equipping floor personnel with mobile devices that can scan merchandise and help customers look up out-of-stock …
• 30 November

  Acquirers Can Expect a Very Merry Christmas If Trends Hold

  If the best present for a merchant acquirer is more transactions to process, 2011’s Christmas has already arrived. Various reports from acquirers, payment processors, and research firms indicate that electronic transaction volumes are up sharply over 2010’s levels despite the gloom that still colors most economic news. Dallas-based Chase Paymentech, …
• 29 November

  Online Forecast: Credit Cards Will Surge As Debit Falls Victim to Regulation

    n Online sales for the year will reach $309 billion, up 16% from $266 billion in 2010, according to the report. That volume will grow to $346 billion next year and $444 billion 2016, the report forecasts. General-purpose credit cards will capture 40% of online spending in 2011 and …
• 28 November

  Eye on Prepaid: Intuit’s GoPayment Card, Green Dot’s Bank

  The prepaid card industry is marching to new frontiers as November heads toward a close. Intuit Inc. on Tuesday is expected to launch a prepaid Visa card for new merchants in its GoPayment smart-phone-based service, and the Federal Reserve Board approved prepaid card program manager Green Dot Corp.’s plan to …
• 23 November

  Just in Time for the Holidays—Gift Cards That Require Only 10% Down

    With the holiday-shopping season set to kick off on Friday, a startup in San Diego has launched a Web site that lets consumers buy gift cards at 10% of face value. The remaining balance, the company says, comes due only when the cards are redeemed. The site, from Moola …
• 22 November

  The Planets Align for a Boom in Mobile Remote Deposit Capture

    Only a handful of the nation’s 13,000 financial institutions today offer remote deposit capture to consumers, but, riding the wave of smart-phone popularity, the number is poised to mushroom, according to new research findings from Celent LLC, Boston. Some 66% of 187 banks and credit unions Celent surveyed in …