Digital Transactions Authoritative, insightful and timely information for payments professionals
Its ultimate significance may prove to be months away, but a new handset introduced last week by Nokia has some mobile-payments observers expressing hope that talk of mobile transactions at the point of sale may now be more realistic. “It is definitely something that will move the conversation along,” says …
April, 2009
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29 April
EBay Boss Says PayPal Will Exceed One-Third of Company in ’09
It's been implicit for a while, but eBay Inc. on Wednesday made it clear that it has big hopes for its PayPal payments subsidiary as the company evolves from its core Internet auction business. “PayPal's opportunity and its niche is to power all of e-commerce,” eBay president and chief executive …
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28 April
CyberSource: Online Fraudsters Clipped Airlines for $1.4 Billion
Airlines lost more than $1.4 billion to online fraudsters in 2008, representing about 1.3% of their Web-generated revenues. Those are two key findings from a first-of-its-kind survey about air carriers' Internet-related fraud. Mountain View, Calif.-based CyberSource Corp. commissioned the survey with Airline Information LLC, which produces conferences and publications about …
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27 April
Remote Key Loading Good for ISOs And Retailers, Says Hypercom
Hypercom Corp. reports it is starting to see interest building in a service that allows merchants to inject new encryption keys in their point-of-sale terminals through network connections, eliminating the need to visit stores or send the devices out to have the job done. “It's been a pretty substantial effort” …
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24 April
You Can’t Set It And Forget It with PCI, Network Execs Say
The Payment Card Industry data-security standard (PCI) is a favorite punching bag of merchants, but executives from Visa Inc. and MasterCard Inc. defended the set of security rules before an audience of independent sales organizations as the best tool available for keeping cardholder information safe from computer hackers. They also …
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23 April
How Washington’s Credit Card Fray Could Hammer Acquirers
The White House is scheduled to dress down credit card issuers this week. That and current and possible bills in Congress increase the chances of new regulations on merchant acquirers, according to a lobbyist for the Electronic Transactions Association trade group of independent sales organizations and other merchant processors. Congress …
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23 April
PCI for Small Merchants Gives Rise to Headaches, Opportunities
Ask most acquirers and independent sales organizations what keeps them up at night, and at or near the top of the list is the job of getting their smaller merchants to comply with the Payment Card Industry data-security standard (PCI). The security requirement, whose detailed mandates even larger merchants find …
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22 April
Terminal Rivals Cooperate on Plan for Card Data Security
In an unprecedented effort to thwart data breaches, the three leading vendors of payment card terminals on Wednesday put aside their normally fierce rivalries to announce creation of a non-profit industry group to implement common security standards and improve knowledge about security issues. “The self interest aligns with the public …
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22 April
First Atlantic Denies IRS Allegations in Offshore Tax Investigation
First Atlantic Commerce this week issued a strongly worded statement distancing itself from an investigation launched by the U.S. Department of Justice of offshore transactions. First Data Corp. last week said it was reviewing documents Justice filed in federal court seeking information on First Data merchants that sell or provide …
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20 April
Money Transmitters Shrug off Recession, Downplay New Channels
U.S. automakers and lots of banks are finding their business models under severe stress, but not so money-transfer businesses despite a likely decline in transfer volume this year, according to new research from Aite Group LLC. The industry, especially big players such as The Western Union Co. and MoneyGram International …