VeriFone Systems Inc. acknowledged that hackers targeted two dozen convenience stores in an attempt to get at sensitive payment data by infiltrating the point-of-sale terminal maker’s corporate network in January. The confirmation follows a report Tuesday on KrebsOnSecurity.com that disclosed the attack. The site, which specializes in information-technology threats and …

When it comes to contactless electronic payment transactions, the U.S. payments industry seems to be more interested in using smart phones than plastic debit or credit cards. But other countries have gone the opposite route. In the United Kingdom, for example, spending on contactless cards reached a record £3.4 billion …

Mobile order-ahead-and-pay functionality has been adopted lately by restaurants ranging from Starbucks Corp. to Chick-fil-A. But with the announcement on Wednesday by McDonald’s Corp. that it will offer the service on its mobile app, the world’s largest hamburger chain could finally push mobile payments into the consumer mainstream. At an …

Payment card maker CPI Card Group Inc. says it will focus on small and mid-size issuers migrating from magnetic stripe cards to cards bearing an EMV chip in 2017 as it contends with a saturating market for the advanced cards. As larger banks and credit unions complete their migration programs, …

Just as they once issued proprietary plastic, retailers are introducing their own mobile wallets. But just how much consumer appeal do these apps have, and will they work equally well for all merchants? In the business of mobile payments, everyone is familiar with the trio of so-called Pays—Android Pay, Apple …

Acquiring processors haven’t been thought of historically as platform businesses. But the industry is changing, and processors that do it right can achieve enviable valuations. The Holy Grail for payments companies is to enjoy network effects and critical mass. Global networks such as MasterCard and Visa have both in spades. …

By now, we have seen enough fintech payments disruptors that we should be able to draw conclusions about which ones will succeed and which won’t. Are there heuristics that indicate which innovations will succeed, and which will likely fail due to miscalculations of market demand and how best to meet …

Now that Republicans in the wake of the November 2016 elections control both houses of Congress as well as the White House, there is a distinct possibility that the Dodd-Frank Act, which Republicans have opposed since a then Democratic majority in Congress enacted the sweeping banking-reform law in 2010, could …

The bad news about payments risk just keeps on coming. The Anti-Phishing Working Group Inc. reported this week that phishing attacks reached an all-time high in 2016, totaling 1,220,523. That was up fully 65% over 2015, the group says in its latest quarterly report. Another way to look at the …

• Merchant processor Sterling Payment Technologies, a unit of EVO Payments International, has partnered with RPower Point of Sale, a vendor of point-of-sale software for restaurants, to offer an EMV solution for the hospitality industry. • Merchant processor Square Inc. introduced Caviar pickup, a new feature on its Caviar restaurant food-ordering and delivery service that …