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It’s a good time to be a point-of-sale terminal maker when all of your customers have to go through the payments equivalent of abandoning the horse and buggy and jumping into an automobile. With a major U.S. deadline for converting from magnetic-stripe payment cards to the Europay-MasterCard-Visa (EMV) chip card …
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Home Depot Hires Data-Security Firms As Other Merchants Contend With Breaches
Big box hardware retailer The Home Depot Inc. has hired two data-security firms to delve into its point-of-sale systems to determine the extent of a possible breach first reported on Tuesday. Security site KrebsOnSecurity.com said then that several banks it contacted said they saw evidence that Home Depot stores …
Read More »Eye on Branding: As Wallets Struggle, MCX Dubs Its Scheme CurrentC While Isis Says It Is Now Softcard
The Merchant Customer Exchange, a retailer-controlled mobile payment scheme, has given its service a name. Dubbed CurrentC, the service will not be available outside of testing until 2015. First announced in 2012, the long-gestating scheme aims to give participating retailers their own mobile-wallet service that eschews the traditional payment …
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MasterCard Sees Dollars in Tokens As mobile payments and the use of tokens for payment security grow, at least one card network is seeing an opportunity for new fee revenue. MasterCard Inc. is planning new “digital enablement” fees, one for merchant acquirers and others for card issuers. The fees are …
Read More »Cover Story: Is it Still Hip to Be Square?
Is it Still Hip to Be Square? The answer, after five eventful years, is yes. But it needs to find a consumer strategy, and right now there’s no app for that. Nobody in the staid world of the payments business had ever seen anything like it before. Dozens of buttoned-down …
Read More »Security: Unintended But Predictable
Unintended But Predictable The U.S. arrival of EMV virtually ensures criminals will step up attacks on card-not-present channels, which EMV doesn’t protect. So what is the industry doing to defend itself? Just about everywhere that Europay-MasterCard-Visa (EMV) chip cards have replaced magnetic-stripe payment cards, greatly strengthening the shield protecting brick-and-mortar …
Read More »Citi Scores a Digital-Wallet First for U.S. Banks, But Will Consumers Care?
Citigroup Inc. claims to have become the first global bank to introduce its own branded wallet in the U.S. The question now is how much Citi’s millions of payment card holders will care as digital-wallet services proliferate. The new Citi Wallet announced Monday is based on MasterCard Inc.’s MasterPass platform, …
Read More »Eyeing Transaction Dropouts, PayPal Unveils One Touch for Single-Click Mobile Payments
In a move that could significantly boost mobile-payments activity, PayPal Inc. on Tuesday unveiled a single-click payment method for merchant apps. Dubbed One Touch, the method allows mobile users to log in once with their user names and passwords, then simply touch or click on a “buy” button for all …
Read More »Square Attempts to Quell Some of Amazon’s Thunder With Post Dispelling ‘Myths’
In a recent blog post, Square Inc. is attempting to counter some of the attention foisted on Amazon.com Inc. after the announcement last week of Local Register, the online retailer’s mobile point-of-sale service, by dispelling the “top 10 myths” about Square’s service. Local Register enables retailers to accept payment …
Read More »Dubbed Local Register, Amazon’s Mobile POS Service Arrives
Online retail giant Amazon.com Inc. is moving into brick-and-mortar stores with the debut Wednesday of its Local Register mobile point-of-sale service. Similar to other mobile POS services, such as Square Inc.’s, Local Register requires merchants to create an account, purchase a card reader and download an app to a …
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