By Jim Daly@DTPaymentNews Countless analysts have tried to diagnose what ails the lackluster U.S. mobile-wallet market, but new observations from securities rating agency Fitch Ratings Inc. succinctly identify three primary causes: a lack of compelling value propositions, an overcrowded market, and cyber-risk aversion on the part of consumers. “The vast …

• Gift cards were the most sought-after gifts among consumers queried for a survey about the upcoming holiday season and sponsored by the National Retail Federation; 61% of respondents reported wanting a gift card, followed by clothing and accessories, 54%; and books, CDs, DVDs or videos, 40%. • Merchant processor …

By John Stewart @DTPaymentNews Retailers can expect a bump upward in the dollars consumers load on closed-loop gift cards this holiday season as a festive spirit takes hold and more merchants favor the cards over holiday discounts, according to a forecast released Friday by payments consultancy Mercator Advisory Group. “Retailers …

• Citigroup Inc. became the latest bank to introduce a proprietary mobile wallet, in this case Citi Pay, which will launch later this year in Singapore, Australia, and Mexico, and in the U.S. early next year. Working with MasterCard Inc.’s Masterpass digital-payments service, Citi Pay provides online and in-app payment capability, …

• Payments-technology vendor Cardtek announced its Digital Enablement Platform for wearables payments. The platform relies on wearables chips from NXP Semiconductors and is aimed at integrating payment cards, transit tickets, and other services in wearable devices. Cardtek cites research from CCS Insight indicating there will be 411 million wearable devices …

• Payment security technology provider MagTek Inc. and Payment Alliance International (PAI), an ATM independent sales organization and processor, said PAI now supports MagTek’s QwickCodes system for cardless transactions and will deploy it across its nationwide network of more than 74,000 ATMs. • Entertainment operator Live Nation Entertainment Inc. said mobile-ticket …

By John Stewart @DTPaymentNews The U.S. election is just 24 hours away, but if it were up to the readers of Digital Transactions News, Donald Trump would be the next President of the United States. He’d be bound for the Oval Office, however, with a very weak mandate. Republican candidate …

• In yet another event related to payment card data security at hotels, Sentinel Hotel announced it is investigating an incident involving cards used at its front desks after receiving reports from some of its guests of unauthorized charges. • While 22% of consumers overall prefer to receive coupons through …

By John Stewart @DTPaymentNews Debit card transactions with PIN authentication have historically been seen as the most secure form of payment available, but lately some experts have had cause to wonder. In fact, while credit card fraud losses are declining, losses on PIN debit transactions for payment and at ATMs …

• Lengthy negotiations for some large contract renewals caused payments software and processing provider ACI Worldwide Inc. to reduce its 2016 financial guidance; the company posted third-quarter revenues of $217 million, down 9% from a year earlier, and a loss of $9.83 million compared with net income of $14.8 million …