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The Home Depot Inc. on Tuesday started rolling out a point-of-sale payment system that will let customers pay with their PayPal accounts at all of the home-improvement retailer’s almost 2,000 U.S. stores. The rollout comes just seven weeks after the two companies unveiled a five-store pilot in the San Francisco …
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In a Sneak Peek at Its Mobile Wallet, Isis Says Product Will Come with Preloaded Cash
The Isis mobile wallet, set for release in two U.S. cities this summer, will feature a prepaid card with cash already loaded and a capability to “follow” participating merchants to receive coupons and other offers. The broad outlines of how the wallet will work were disclosed on Wednesday as Isis …
Read More »Threat of Identity Theft Stalks Users of Social Media and Smart Phones
After bottoming out in 2010, identity fraud rose nearly 13% last year, according to new findings from Javelin Strategy & Research. Javelin’s findings also associate two hallmarks of the tech-oriented early 21st Century, social networks and smart phones, with a higher risk of identity fraud. Pleasanton, Calif.-based Javelin surveyed 5,022 …
Read More »Processor Execs Echo Merchant Sentiment in Favor of PINs for Chip Cards
Some of the nation’s biggest merchants have been adamant for months that they prefer EMV payments with PINs, not signatures, and on Thursday they were joined in that sentiment by a panel of representatives from some of the country’s largest processors. In the face of tepid support, at best, for …
Read More »Now Taking EMV Cards at Some U.S. Stores, Wal-Mart Prods EFT Networks to Get in the Game
With both Visa Inc. and MasterCard Inc. now on the record with plans to encourage the adoption of EMV chip card and mobile payments in the U.S, it seems all but certain that the magnetic-stripe payment card’s days are numbered. In fact, Wal-Mart Stores Inc. already is seeing some EMV …
Read More »Visa Unveils Chip Services As Its U.S. EMV Card Base Crosses the 1 Million Threshold
Visa Inc. reported on Monday that its U.S. financial-institution clients have issued more than 1 million chip cards compliant with the EMV standard. The leading payment card network also introduced new EMV processing services so that issuers can reduce their own investments in chip technology. Just over 10 issuers now …
Read More »Trends & Tactics
Virtual Currencies: Bust-Out Ahead? Witness the recent travails of the euro if you want proof of how hard it is for any new currency, even a physical currency backed by multiple governments, to attain and retain widespread usage and acceptance. The obstacles blocking the new breed of electronic currencies from …
Read More »MasterCard’s ‘Road Map,’ Including Merchant Incentives, Lifts Industry Hopes for EMV
Ever since Visa Inc. released a major policy statement in August regarding chip cards in the United States, observers have waited for the other shoe to fall from competing card networks, especially Visa’s biggest rival, MasterCard Inc. That void began to fill in late on Monday with MasterCard’s release of …
Read More »By Harnessing NYCE And a White-Label Strategy, FIS Seeks to Set Its Wallet Apart
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Read More »Fraud From Euronet Breach Hits Mag-Stripe Cards, Spares EMV Chip Cards
Payment processor Euronet Worldwide Inc. reported on Monday that part of its European businesses sustained a computer security breach late last year. The disclosure is of interest to the U.S. payments industry as it moves slowly toward adoption of EMV chip cards because most European cards have both a chip …
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