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Bank of America Corp. last month began issuing debit cards that adhere to the Europay-MasterCard-Visa (EMV) chip card standard, thus becoming the first mega-bank to begin a wide-scale EMV conversion. Cards for existing customers will be issued as old cards expire or are replaced for other reasons. The U.S. payment …
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Doing mPOS Strategically
Payments 3.0 The 30% annual growth of mobile point of sale (mPOS) over the past three years (footnote 1) indicates that a new innovation is being rapidly adopted. The number of different companies providing mPOS devices, currently upwards of 200, is extraordinary even by the norms of the mobile phone-based …
Read More »Theft of Users’ Email Addresses Overshadows MCX’s Attempt To Blunt ‘Misinformed’ Comment
By Jim Daly and Kevin Woodward Just hours after Merchant Customer Exchange LLC (MCX), the retailer-backed developer of the CurrentC mobile-payments service, posted a response to reports about some of its members dumping Apple Inc.’s rival Apple Pay service, the company notified customers that “unauthorized third parties” had obtained email …
Read More »The Gimlet Eye: NFC’s Day in the Sun
Well, it finally happened. Apple Inc. has included a near-field communication chip in new iPhone 6 and charged full-bore into the troubled world of mobile wallets (see our cover story to read all about it). To understand the significance of this event, you have to reflect on the history of …
Read More »Prepaid for the Masses—of Banks, That Is
The general-purpose prepaid card market is hot, but most smaller financial institutions find it a daunting task to start and run a prepaid program. To fill that gap, Capital Prepaid Services last month launched a prepaid Visa card with two small banks as part of a campaign to make prepaid …
Read More »Cover Story: Can Apple Save Mobile Wallets?
Though the Apple Pay service has drawbacks, Apple’s legendary marketing chops will probably, at long last, let wallets cash in. What hath Apple wrought? At a hugely hyped event Sept. 9 near its headquarters in Cupertino, Calif., Apple Inc. unveiled the next iteration of its iconic iPhone—the iPhone 6 and …
Read More »BofA Becomes First Major Issuer to Begin Conversion to Debit Chip Cards
Bank of America Corp. isn’t waiting for 2015 to convert its debit card portfolio to plastic that supports Europay-MasterCard-Visa (EMV) chip transactions. The Charlotte, N.C.-based banking giant announced Tuesday it will begin issuing debit chip cards to new customers in October, with cards for existing accountholders issued as these …
Read More »How Smoothie King’s King-Size iPad Play Could Open the Gates for Tablet POS
In what appears to be the largest tablet-based point-of-sale deployment yet, the entire 700-store Smoothie King Franchises Inc. chain will convert to a system from San Francisco-based Revel Systems Inc. The Covington, La.-based chain, which sells blended drinks, snacks, and supplements, is replacing existing checkout registers with Apple iPads linked …
Read More »Cobrin Steps Aside As AnywhereCommerce CEO to Focus on a New Cloud-Based Gateway
Mitch Cobrin, who has run AnywhereCommerce Inc. as chief executive for the last four-and-a-half years, has stepped aside for a new chief executive but will continue at the company in the role of founder, board member, and “chief catalyst,” he tells Digital Transactions News. The management change comes as the …
Read More »Capital Prepaid Looks to Extend Prepaid Program Management to Scores of Small Issuers
The general-purpose prepaid card market is hot, but most smaller financial institutions find it a daunting task to start and run a prepaid program. To fill that gap, Capital Prepaid Services on Monday launched a prepaid Visa card with two small banks as part of a campaign to make prepaid …
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