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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 …
Read More »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 …
Read More »ISOs’ Volume Shortfalls Trigger First Data Demands for Fees
In a move that could have a bottom-line impact for an untold number of independent sales organizations, First Data Corp. is sending letters to client ISOs notifying them they owe fees to the Atlanta-based processing giant to compensate for shortfalls in processing volumes. While it’s not clear how many such …
Read More »Council Grants an Extra Year to Implement New PCI Versions
Merchants, processors, and others in the card industry will have more time to review and implement new versions of the Payment Card Industry data-security standard under a new schedule announced on Tuesday by the PCI Security Standards Council. With the revised schedule, the main standard and PA-DSS, the standard for …
Read More »Token, Encryption Combo Seen As a Remedy for PCI Headaches
Tokenization and encryption may be the best solution to one of the biggest data-security challenges facing merchants: how to protect confidential payment card information against emerging threats without disrupting normal business operations. That’s according to a security brief released on Tuesday by RSA, the Security Division of EMC. Security experts …
Read More »A $300 Million iPay Deal Is a ‘Strong Fit’ for Processor Jack Henry
Acquisitive financial-institution processor Jack Henry & Associates Inc. on Monday said it has completed its $300 million buyout of iPay Technologies, a low-profile but fast-growing electronic bill-payment processor that will add substantial mass to Jack Henry’s already sizable bill-pay business. Monett, Mo.-based Jack Henry provides bill-pay services to 1,050 of …
Read More »Study Quantifies the Heavy Damage of Card Data Breaches
Everyone knows data breaches are expensive and affect a lot of people, but just how much is startling. In a new analysis, Javelin Strategy & Research estimates credit and debit card issuers spent $252.7 million in 2009 replacing more than 70 million cards compromised by data breaches. Analyst Robert Vamosi …
Read More »Bullish on the iPad, Square Says It Will Be a POS Game Changer
With application developers rushing to bring apps to market for Apple Inc.’s immensely popular iPad tablet computer, payment service provider Square Inc. is predicting the iPad will become a game changer in wireless payments, and says that it will aggressively pursue developing iPad applications that enrich the transaction experience. The …
Read More »New Developer Deals Could Spur Mobile Growth for PayPal
Having seen a significant uplift in mobile-payments volume so far this year, PayPal Inc. along with developer partners have in the past few days unveiled new products and services that could accelerate the processor's growth in this nascent market. PayPal said it is providing payment processing for new mobile-storefront software …
Read More »Visa Eases up on Triple DES Deadline in Face of ‘Migration Challenges’
Visa Inc. has “relaxed enforcement” of the July 1, 2010, deadline for petroleum retailers to install software that meets the so-called Triple Data Encryption Standard (also called 3DES or TDES) in response to requests from the major oil companies, including ExxonMobil, the card network said in a statement released this …
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