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Target Corp. told a U.S. Senate committee Wednesday that the overlap in the number of consumers affected by the two-headed monster of its data breach may be 12 million or more. The nation’s No. 2 general retailer also said it is improving its data security in the wake of the …
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Contactless Payment Scheme Enables Consumers to Fill Up on Fuel and Loyalty Points
A new contactless payment scheme available from On Track Innovations Ltd. enables consumers to pay for fuel at the pump without removing their payment card from their wallets. n Currently, EasyFuel Plus is available in Europe and other international locations. OTI says plans to market it in the United States …
Read More »Target’s Breach Compromised Data on Millions More Consumers Than Initially Disclosed
Target Corp. on Friday said personal data on 70 million customers were compromised in a separate theft during the same data breach it disclosed last month that exposed up to 40 million credit and debit card accounts of U.S. shoppers. That could bring the total number of customers affected up …
Read More »Dueling Studies Reach Opposite Conclusions About Consumers’ Durbin Savings
Durbin Amendment critics have long accused merchants of pocketing the billions they’ve saved since the amendment’s highly controversial debit card interchange price controls took effect two years ago Tuesday. Now, however, retailers are rolling out a study estimating that merchants passed on $5.86 billion in Durbin-related savings to consumers last …
Read More »Picture Clouded on Durbin’s Results for Retailers And Consumers, Study Says
One full year after complete implementation of the controversial Durbin Amendment’s debit card regulations, the impact on both merchants and consumers—the law’s putative beneficiaries—remains mixed, according to a study released by the Federal Reserve Bank of Kansas City. While Durbin drastically reduced interchange for the country’s largest banks while …
Read More »Banks’ Bill-Pay Sites Poised To Grow as Consumers Make More Online and Mobile Payments
Consumers are paying fewer bills than they were in 2009, but paying more of them online and through mobile devices. Between 2009 and 2011 total consumer bill payments fell from 16.6 billion to 16.1 billion, according to a report released this week by Boston-based Aite Group LLC. The decline …
Read More »New Data Show Consumers Once Again Are Willing To Pull Out Their Credit Cards
Credit cards began staging a somewhat wobbly post-recession recovery in 2010 and 2011. But new figures from First Data Corp. and Visa Inc. indicate credit card charge volume is back to just about full health. In a mid-March investor presentation, Visa reported that U.S. credit card payment volume increased 11% …
Read More »Survey: Despite All the Digital Wallet Buzz, Few Consumers Understand Or Use One
Digital wallet? Try explaining that concept to your grandmother. New research from comScore Inc. says that very few consumers understand what a digital wallet is and even fewer have used one, the notable exception being PayPal Inc. The November study by the Internet data-measurement firm found that only 51% …
Read More »PayPal Says Discover Deal ‘on Track,’ Gets Set to Promote POS Service to Consumers
A buoyant John Donahoe, chief executive of eBay Inc., said on Wednesday that PayPal Inc.’s launch on the Discover Network is “on track” to begin toward the end of the second quarter. A key part of eBay unit PayPal’s strategy to bring its payment service to the physical point of …
Read More »With Isis Finally Launching Its Two-City Pilot, Consumers Get a Chance To Decide Its Fate
It looks like it’s finally going to happen. The much-anticipated, much- delayed Isis mobile-payment venture backed by three big telecommunications companies is scheduled to go live on Monday in its test cities of Austin, Texas, and Salt Lake City. Now the ultimate consumers of the new system, mobile-phone users, will …
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