Digital Transactions Authoritative, insightful and timely information for payments professionals
At trade show after trade show, and in article after article, payments-industry executives have heard for years now that the U.S. migration to chip cards on the Europay-MasterCard-Visa (EMV) standard, while protecting the point of sale from counterfeit fraud, will force fraudsters to ply their craft online. Indeed, the idea …
Read More »Data Breaches Continue To Cost Target and Home Depot a Bundle
Target Corp. reported Wednesday that expenses stemming from the big data breach it disclosed 11 months ago now total $248 million. The Home Depot Inc., meanwhile, said Tuesday that the data breach it disclosed in September cost it $28 million on a pre-tax basis in its recently ended third quarter. …
Read More »The U.S. Marshals Service Plans Its Second Bitcoin Auction, This One Worth $19.2 Million
The U.S. Marshals Service held its first auction of bitcoins in June, and now it’s planning an even bigger one for Dec. 4. Like the June 27 auction, the 50,000 bitcoins to be auctioned by sealed bid were seized in October 2013 from Ross Ulbricht, the alleged operator of the …
Read More »Mobile Commerce To Peak On Thanksgiving: Adobe
Consumers are expected to use their smart phones and tablets to do more than check prices this holiday season. More of them expect to make mobile-commerce purchases—forecasted to reach $1.6 billion on Thanksgiving Day, Black Friday, and Cyber Monday— finds the Adobe Digital Index, a research service from Adobe …
Read More »Airport Renovation Includes iPads Where Passengers Can Spend Airline Miles
Before the emergence of Bitcoin and other such alternative currencies, people collected and traded airline miles. Many still do, which is what United Airlines and OTG Management, an operator of restaurants in 10 North American airports, are counting on. The two companies on Monday announced holders of United frequent-flyer miles …
Read More »Pala Interactive To Use Optimal Payments for Its Online Gaming Service
Pala Interactive LLC, an online gambling operator, will use payment-processing services from Optimal Payments Plc, Optimal announced this week. Online gambling revenue in the United States is forecasted to be $2.6 billion by 2017, according to one estimate. Another estimate, from Odobo and H2 Gambling Capital, forecasts $7.7 billion …
Read More »PayPal Turns to InComm To Boost Digital Gift Card Presence
PayPal Inc. will use electronic gift card services from InComm Holdings Inc., a move that will enable PayPal to expand the number of retailers’ gift cards that it sells on the PayPal Digital Gifts store and in the eBay marketplace. PayPal, a unit of San Jose, Calif.-based eBay Inc., …
Read More »Lightning-Fast Data And Funding Approvals Have Led to Big Growth in the Kabbage Patch
In short order, competition in the business of funding small merchants has ratcheted up to new highs, with new, online and technology-based entrants flooding the market. One of the most recent, and successful, of these new entrants is Atlanta-based Kabbage Inc., which this year will hit the $500 million mark …
Read More »AmEx In NBA Test and Other News for Nov. 12
• American Express Co. is testing a mobile-payment service built on its Serve platform with the NBA's Brooklyn Nets and their home arena, the Barclays Center. The Brooklyn eWallet is part of the Nets' mobile app for iOS and Android smart phones; fans can store up to 10 payment cards in …
Read More »Smart Phone and Tablet Users Use Weak Security Measures: Report
Consumers using smart phones and tablets based on Android, iOS and Windows Mobile operating systems tend to have lax security measures in place, finds a report commissioned by authentication vendor Nok Nok Labs. Google Inc. developed Android. Apple Inc. created iOS for its mobile devices, and Microsoft Corp. owns Windows …
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