Digital Transactions Authoritative, insightful and timely information for payments professionals
• Credit cards were implicated in 59% of all fraudulent online transactions for the period stretching from Black Friday through Cyber Monday, up from 49% for the same period last year and from 44% in 2014, according to data from iovation, a device-authentication company. Still, fraudulent traffic overall for the period dropped to 0.38% of online transactions from 1.16% last year and 2.34% in 2014.
• MasterCard Inc. introduced Decision Intelligence, a service aimed at using machine learning to aid banks and merchants in identifying legitimate transactions in real time to reduce false declines. This is said to be the first deployment of artificial intelligence globally on the company’s network.
• Processor Fidelity National Information Services Inc. (FIS) is now offering Early Warning Services LLC’s Zelle person-to-person payments service to its financial-institution customers.
• Mobile-payments technology provider Cachet Financial Solutions Inc. said it has completed the rollout of its upgraded Select Mobile Money platform that enables consumers to manage prepaid cards through iOS or Android mobile apps.
• Gilbarco Inc. announced its Gilbarco Veeder-Root unit will be the exclusive provider of fuel dispensers and payments terminals in the forecourts of convenience-store chain Wawa Inc. as it updates its systems for EMV compliance. In addition to EMV acceptance, the new pumps also will have near-field communication (NFC) capability. Petroleum operators face an October 2017 liability shift deadline.
• The Bancorp Inc. created a fintech-innovation studio called Cube8, a space where it will “explore unconventional–even radical–ideas in financial technologies.” The company owns The Bancorp Bank, a major prepaid card issuer.
• Data-security provider ControlScan Inc. said 25% of respondents to the ControlScan-ETA POS Technology Adoption survey said consumer demand “highly influences” their payment-technology purchases.
• Total System Services Inc. (TSYS) will provide debit card processing services for customers of the Virgin Money retail bank in the United Kingdom under a new long-term agreement.
