Digital Transactions Authoritative, insightful and timely information for payments professionals
A Look Back And a Provocative Look Ahead Welcome to an anniversary party— one played out not in a ballroom or country-club drawing room but in pages of cold print. The milestone we are marking is our 10th anniversary of publishing Digital Transactions, an enterprise we rather immodestly think of …
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Endpoint: Better Get Moving on Integrated Shopping
Integration of in-store, online, and mobile shopping makes for a much quicker and more convenient shopping experience. It’s what consumers are beginning to expect and demand. Too few ISOs have progressed beyond the basics of POS technology, says Rick Berry. Rick Berry is chief executive of American Bank Card Processing …
Read More »Research Group Picks Judge’s Overturning of Fed’s Durbin Rule as 2013’s Top Payments Event
We couldn’t recruit David Letterman to help us with this article, but what follows are the Top 10 U.S. payments events of 2013 as identified by the Retail Payments Risk Forum, a research and industry-dialogue unit at the Federal Reserve Bank of Atlanta. 10. The Consumer Financial Protection Bureau finalized …
Read More »Target Confirms Encrypted PINs Stolen As Part of Breach, Says Debit Accounts Remain ‘Safe’
Target Corp. on Friday confirmed that data thieves obtained customers’ encrypted debit card PINs, but said the sensitive numbers remain useless to the criminals because of the technology masking them. ”While we previously shared that encrypted data was obtained, this morning through additional forensics work we were able to confirm …
Read More »Target Talks With Attorneys General; Says Malware Was Involved in Data Breach
Target Corp. on Monday held a conference call with state attorneys general and said malware was involved in its data breach that compromised up to 40 million credit and debit card accounts. The new developments follow the discount-store chain’s disclosure Thursday of a breach in the point-of-sale system for its …
Read More »DoubleBeam Buys GoPago’s POS Business; Amazon May Have a Piece, Too
DoubleBeam Inc., a mobile retail and point-of-sale company, has bought mobile POS system maker GoPago for an undisclosed sum. This counters a report last week that suggested e-commerce giant Amazon.com Inc. acquired GoPago. San Francisco-based GoPago, founded in 2009 and backed by a 2012 investment of an undisclosed amount from …
Read More »Target Says Little Fraud And No Apparent PIN Theft Resulting From Data Breach So Far
In the wake of the huge payment card data breach it confirmed Thursday, big-box retailer Target Corp. today said that so far it has received few reports of fraud resulting from the breach. The retailer also said that while hackers obtained considerable customer data on approximately 40 million credit and …
Read More »Fed Report: Plastic Strengthens Its Grip on Payments As Credit Cards Resume Growth
More than ever, plastic dominates the business of electronic payments in the United States, with two-thirds of all noncash transactions in 2012 occurring on a card, up substantially from 60% just three years earlier. That’s according to the Federal Reserve System’s triennial payments study, released Thursday. The sweeping research report, …
Read More »VeriFone’s New CEO Outlines His Plans To Get the Terminal Maker Back on Track
Paul Galant, the new chief executive of payment-processing hardware and software maker VeriFone Systems Inc., says he’s committed to increasing research and development, rationalizing VeriFone’s sprawling product lines, and becoming “more nimble and more focused on our strengths.” Galant, a former senior Citigroup Inc. executive who took the helm 78 …
Read More »Amazon’s Apparent GoPago Deal Could Presage Move Into Brick-And-Mortar POS, Experts Say
Online retailer Amazon.com Inc. appears to have bought tablet and mobile point-of-sale provider GoPago Inc., according to a report in La Repubblica, an Italy-based newspaper. In the report, Vincenzo Di Nicola, a GoPago co-founder and its chief technology officer, says Amazon paid an undisclosed amount for the company. The article, …
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