News

July, 2010

• 8 July

  High-Profile Players Sign on to Promote Mobile-Merchant Technology

  As the young market for mobile payments on smart phones takes shape, industry players are scrambling to pair up with world-famous partners with massive numbers of consumer and business customers. Point-of-sale terminal maker VeriFone Systems Inc., for example, is selling hardware for its PAYware Mobile application in Apple Inc.’s retail …
• 8 July

  A Banker’s Nightmare: Social Networks Beget a Slew of PayPals

  Non-bank threats to banking franchises like electronic payments are nothing new, but if a researcher is correct, banks and the card networks they built could soon find themselves under assault from a whole new batch of players that have found a niche in social networks and online gaming. “I don’t …
• 6 July

  PayPal, Google Use Mobile to Penetrate the Physical Point of Sale

  Evidence mounted over the past week of the interest at least some major e-commerce processors have in using mobile platforms to penetrate the physical point of sale. First came word that Bling Nation Ltd., a Palo Alto, Calif.-based mobile-payments processor that depends on contactless stickers, is working on an integration …
• 6 July

  Chase Weighs in With Its Remote Capture App for the iPhone

  JPMorgan Chase & Co. burst onto the consumer mobile remote deposit capture stage in a big way last week when it unveiled an updated online-banking app for Apple Inc.’s iPhone and iPod touch that facilitates remote capture and, for added measure, person-to-person payments. The application makes Chase the biggest bank …
• 2 July

  Risky Software Still in Place as a Visa Deadline Passes

  Although many U.S. merchants and processors have met Visa Inc.’s July 1 deadline for replacing unapproved point-of-sale software applications with ones that meet requirements of the Payment Application data-security standard, or PA-DSS, many non-compliant card-processing applications remain in the marketplace, Visa says. While Visa would not release numbers on compliance, …
• 1 July

  The Acquiring Industry Stays on Its Top-Heavy Course

  The rich in merchant-acquiring market share got richer last year, but nearly everyone got a little poorer when same-store sales are the measure, according to the latest annual study of the acquiring industry by Mercator Advisory Group Inc. The top five acquirers processed 74% of U.S. general-purpose payment card charge …
• 1 July

  PayPal Prepares for a Rich Mobile-Commerce Harvest

  Already claiming to be the leader in mobile payments, PayPal Inc. on Thursday announced it had optimized its Express Checkout service for mobile devices. The new mobile service caps a busy week for PayPal that included the disclosure that alternative-payment provider Bling Nation Ltd. is developing a PayPal application. PayPal …
• 1 July

  E3 Terminals Take Root in Heartland’s Merchant Portfolio

  Merchant acquirer Heartland Payment Systems Inc. has installed its new end-to-end encryption terminals at more than 1,020 merchants since commercially launching the technology on May 24, the company reports. Heartland also will be rolling out a small USB card reader, or “wedge,” later this month, says Steve Elefant, chief information …

June, 2010

• 29 June

  Consumer Payments Are Just the Start for an Ambitious FaceCash

  As the payments industry waits for the commercial rollout of near-field communication technology, startups are jumping into mobile payments to fill the void. One of the latest attempts to bridge the gap between physical stores and mobile devices is FaceCash, which launched last month and allows consumers to pay merchants …
• 29 June

  PayPal Rolls out in-App Card Payments, Delays New-Market Thrust

  PayPal Inc. has introduced a capability for its new Adaptive Payments service that lets consumers pay merchants with a credit card while within an application, regardless whether the consumer has a PayPal account. The San Jose, Calif.-based e-commerce processor also announced late last week it is delaying until the fourth …