First Data Corp.’s struggling merchant-acquiring joint ventures with three big banks are showing nascent signs of a turnaround, and business is booming in the company’s prepaid card unit, top executives reported Monday. The Atlanta-based processor reported last year that new merchant referrals from its big joint ventures with The PNC …
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As 2018 Nears, Payments Professionals Predict Advances in Tech for Blockchain, Mobile, ID
The blockchain, mobile commerce, fraud, data breaches, and authentication were all hot payments topics in 2017. Expect that to continue into 2018 if the prognostications from several payments executives hold true. Much of their outlook centers on identity and authentication, especially as data breaches, large and small, continue to wreak …
Read More »Signing Off
Mastercard’s decision to remove the signature requirement comes as authentication measures improve in the payments industry. But what comes next is still a huge question. As unique as signatures are, their value as a way of authenticating a credit or debit card transaction has long passed, a realization many consumers …
Read More »Pulse Volume Jumps 17% and other Digital Transactions News briefs from 10/25/17
The Western Union Co. early next year will start allowing money transfers via Mastercard Send, a service that allows people to send money within seconds from a debit card to another person’s debit card, including non-Mastercard cards. Senders can also fund transfers with credit cards or bank accounts, but must …
Read More »Merchants in a Quandary Balancing Fraud Reduction and Higher Transaction Volume: Report
Almost as many merchants—65%—seek to increase transaction volumes by reducing identity verification thresholds as do those—74%—that try to reduce fraudulent transactions through more effective verification methods. That quandary surfaced in the “Lost in Transaction Vol. II” report released Thursday by Paysafe Group plc. With a focus on fraud, including consumer …
Read More »Visa ID Intelligence Aims To Be A Digital Authentication Hub
Issuers, merchants, and processors all share the same dilemma when attempting to authenticate an online identity. They are bedeviled by personally identifiable information easily accessible to criminals that they can use to spoof authentic consumers. In response, Visa Inc. on Thursday announced the Visa ID Intelligence service, which it says …
Read More »BIM Brings an ACH-Payment Option to Phillips 66, Conoco, and 76 Gas Stations
Consumers using the Phillips 66, Conoco, or 76-branded smart-phone apps soon will be able to pay for fuel using their checking accounts thanks to an integration with Buy It Mobility Networks, a New York City-based payment and customer relationship management platform. Announced Tuesday, the service will be available soon, says …
Read More »A New Protocol’s Uncertain Promise
Can the new version of 3D Secure fix the faults of the old one and stem the steady rise of e-commerce fraud? The answer is a big maybe—and here’s why. It has been nearly two decades since the card-network brands introduced 3-Domain Secure 1.0 in an attempt to offer a …
Read More »With Same-Day Debits Two Months Away, Experts Urge Measures to Control Expected Risk
As the nation’s automated clearing house network gears up to introduce same-day debits in September, observers are warning that faster processing is likely to open the door to more fraud unless businesses and financial institutions adopt new policies. Some caution the ACH network’s experience so far with same-day credits, which …
Read More »Many Consumers Expect Advanced Biometrics in Payments’ Future: Survey
What’s the future of electronic payments? For many consumers, it’s one that incorporates biometrics for authentication and payments, finds a survey from Viewpost IP Holdings LLC, a business-to-business payments provider. In the survey of more than 1,000 U.S. consumers, Viewpost found that 50% believe fingerprint technology—already in use with many …
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