By John Stewart @DTPaymentNews Few things have thrown a spotlight on the 40-year-old chargeback process like the nation’s conversion to EMV chip cards at the point of sale, but it’s in online commerce where the problem has long plagued merchants. And now there’s evidence that these sellers may have more …
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3dcart Joins Amazon Payments Program and Other Digital Transactions News briefs
• JPMorgan Chase & Co. signed the Best Buy Co. Inc. electronics chain to accept the Chase Pay mobile app in its nearly 1,400 stores, on its site, and in-app. Chase Pay is live with some e-commerce merchants and is expected to become available in stores and in-app later in …
Read More »Elavon’s Tablet POS Service Debuts in Canada and other Digital Transactions News briefs
• MasterCard Inc. issued its latest U.S. EMV progress report; the network says it has 2 million chip-active merchant locations and that 88% of MasterCard consumer credit cards now have chips. • Processor Elavon announced it is launching a tablet-based point-of-sale product in Canada in conjunction with talech, a POS …
Read More »While Hackers Press Their Attack on Payments, CyberSecurity Funding Tails off
By John Stewart @DTPaymentNews The payments industry may be undergoing an unprecedented attack by fraudsters, but funding of cybersecurity startups by top investors will drop somewhat this year compared to 2015, according to the latest data from CBInsights, a New York City-based firm that tracks venture-capital investment. Total cybersecurity funding …
Read More »FinCEN Issues Email Fraud Advisory and other Digital Transactions News briefs
• Apple Inc. said it is bringing its Apple Pay mobile-payments service to Japan with its new iPhone 7 and 7 Plus smart phones, and Apple Watch Series 2. Apple Pay will work with Japan’s variant of near-field communication (NFC) contactless technology known as FeliCa. • The U.S. Treasury Department’s Financial …
Read More »Android Pay Coming to Mobile Chrome Browser and other Digital Transactions News briefs
• JPMorgan Chase & Co. said it is now supporting Alphabet Inc.’s Android Pay mobile-payment service. Chase, which is in the process of launching its own mobile wallet, Chase Pay, has issued more than 90 million Visa cards. • In related news, Alphabet’s Google unit said it is making Android Pay …
Read More »Hayden: Consumers Can’t Look to the Government to ‘Save’ Them from Fraudsters
By Kevin Woodward@DTPaymentNews The payments industry’s efforts to protect sensitive cardholder data and transactions are moves in the right direction. They’ll have to be, because solutions to the epidemic of data breaches and online fraud are going to have to come from the private sector and from consumers’ own precautions. …
Read More »After Striking VeriFone, the U.S. EMV Revenue Bug Hits Ingenico
By Jim Daly@DTPaymentNews If misery loves company, then VeriFone Systems Inc. can make room for its arch-rival, France-based Ingenico Group. Ingenico reported Tuesday that a “sudden and significant” decline in U.S. EMV-related revenues, along with weak sales in Brazil, had forced it to lower its revenue and profit forecasts for …
Read More »Boku Raises $13.75 Million in Funding and other Digital Transactions News briefs
• Hotel operator Kimpton Hotels & Restaurants said its point-of-sale system at several of its properties was breached earlier this year, from Feb. 16 through July 7. Kimpton began its investigation after receiving a report on July 15 of unauthorized charges after consumers used their cards at the restaurant in …
Read More »Routing Wars
How EMV is fueling a new merchant-network fight over which electronic highways debit card transactions will travel. War has broken out again between big retailers and the bank card networks. Earlier courtroom fights involved everything from honor-all-cards rules to interchange to merchants’ attempts to steer customers away from high-cost credit …
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