n n n The source of such fears is a fast-changing landscape in which all the payment card networks are looking for new revenues and markets. “Some of my clients are freaking out, without naming names,” says Adil Moussa, an analyst at Boston-based Aite. Card networks are already direct …
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Trends & Tactics
All Signs Point to Credit Cards’ Recovery After getting KO’d in the recession, credit card usage is back on its feet. While card issuers are more cautious than they were a few years ago, consumers who have credit cards are using them more frequently, and they are spending …
Read More »The Banks Wake up
Karen Epper Hoffman Outmaneuvered and outgunned by merchants, banks lost a key interchange battle last year with the passage of the Durbin Amendment. But lately they’ve gone back on the offensive in an all-out push to delay—and maybe kill—the new law. The passage of new card interchange fee rules …
Read More »Online Poker: A Good Bet?
Jim Daly The odds may be growing that Internet poker and possibly other forms of online gambling will become legal. That would mean new transaction and revenue opportunities for payment processors. Just say the words “online gambling” to payments-industry executives, and most run for cover. Next to …
Read More »What You Need To Know Before Choosing an Alternative Network
Kevin Barry Finding another, unaffiliated PIN-debit network is now mandated by law, but it also makes sense strategically and tactically. Issuers must act quickly, though, to realize the full advantage of the move. In the past, card issuers have largely partnered with debit networks and promoted authentication …
Read More »AisleBuyer Launches An Upgrade That Combines POS, E-Commerce Shopping
With the traditional lines between e-commerce and the point of sale blurring, a Boston-based startup on Tuesday introduced a mobile wallet that lets consumers shop at multiple stores, both brick-and-mortar and online, and skip past checkout lines. AisleBuyer LLC’s app, which works on iPhones and handsets running Google Inc.’s Android …
Read More »Consumer Interest Makes Mobile Capture a ‘Hot Product,’ New Study Reports
Mobile remote deposit capture is poised for a boom, and when it happens it just might be an opportunity for banks and credit unions to capture fee income that, for payment services at least, so far has mostly eluded them. That’s one of the conclusions in a new Javelin …
Read More »Durbin Regs Will Take Effect, Though Possibly a Little Late And with Caps ‘Modified’
Like them or not, the Federal Reserve Board’s controversial debit card regulations to implement the so-called Durbin Amendment will take effect, though possibly a little late, according to Capitol Hill observers speaking at the Electronic Transactions Association’s annual conference Wednesday. In the meantime, a proposed 12-cent cap on debit interchange …
Read More »U.S. EMV Pioneers Like Wal-Mart And SECU Are Gung-Ho, But Others Show Less Enthusiasm
At least some banks and merchants may be forging ahead into chip card payments, but presentations at an industry trade show this week leave doubt whether the rest of the industry is ready to follow. Wal-Mart Stores Inc. has now enabled all of its U.S. stores with terminals to accept …
Read More »Merchants Will Accept Small-Issuer Debit Cards Post-Durbin, Advocate Says
Merchant groups on Monday sought to assure Congress that they won't reject small debit card issuers' cards once the so-called Durbin Amendment makes large issuers' debit cards much cheaper to accept. “If merchants didn't accept the card, they would risk losing the sale and losing the customer; a risk very …
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