Digital Transactions Authoritative, insightful and timely information for payments professionals
Online retailer Beyond the Rack is among the latest retailers to accept MasterCard Inc.’s MasterPass digital wallet service on its e-commerce site, the card brand recently announced. Beyond the Rack is a members-only online retailer that sells apparel and accessories. MasterPass is a wallet platform enables mobile payments by …
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Trends & Tactics
Ammo for ISOs in the Tablet Wars Independent sales organizations are starting to feel squeezed by technology companies selling tablet-based point-of-sale solutions to merchants, according to terminal kingpin VeriFone Systems Inc. So VeriFone last month rolled out a tablet-based platform for its resellers that they can price and market to …
Read More »Security: Dealing with Dupes
Elizabeth Whalen As remote deposit capture’s popularity soars, so does the opportunity for duplicate deposits. And the problems multiply when more than one bank is involved. As remote deposit capture (RDC) grows in popularity among depositors for its convenience and among banks for its potential cost savings, a downside is …
Read More »VeriFone Launches a Tablet POS Platform for ISOs It Sees Getting Squeezed by Tech Vendors
By John Stewart n Independent sales organizations are starting to feel squeezed by technology companies selling tablet-based point-of-sale solutions to merchants, according to terminal kingpin VeriFone Systems Inc. So VeriFone on Wednesday rolled out a tablet-based platform for its resellers that they can price and market to their merchants. n …
Read More »Microsoft’s Nokia Deal Leaves Open Questions About Market Share And NFC
Microsoft Corp.’s $7.2 billion acquisition of Nokia Corp.’s handset business, announced late on Monday, brings to the Redmond, Wash.-based tech giant a pioneer in near-field communication technology and allows it to combine hardware with a mobile operating system in the manner of rivals Google Inc. and Apple Inc. It remains …
Read More »Cover Story: Wall Street Pulls the Strings
Banks remain key clients, but ultimately Visa and MasterCard must serve the interests of major investors. Can they pull that off while warring with merchants over fees?By Peter Lucas Former Visa Inc. chairman and chief executive Joe Saunders couldn’t have been happier on March 19, 2008, when the day’s trading …
Read More »Networks: Once Again, with Feeling
By Jim Daly and John Stewart A judge says the Federal Reserve Board failed to carry out Congress’s will for debit cards when it wrote its rules implementing the Durbin Amendment. Now what? Most businesses dislike government regulations. But they really hate situations where a regulation gets upended, the result …
Read More »USA Technologies Launches a Prepaid Loyalty Program for Vending Machines
Love your local vending machine and it’ll love you back. That’s the message from USA Technologies Inc. (USAT), operator of a wireless network of card-accepting vending machines. USAT this week unveiled a loyalty program called “More” centered around a proprietary, reloadable stored-value card that machine owners and operators can offer …
Read More »The PCI Council Wants To Get into Your Head with Its Pending Update to Security Standards
By Jim Daly The coming update to the Payment Card Industry data-security standard (PCI) will include new guidelines about physically protecting credit and debit card terminals, when third-party vendors share security responsibilities with merchants, protecting card data in a computer system’s short-term memory, and strengthening passwords, among others. The PCI …
Read More »Court’s Overturning of the Fed’s Durbin Rule Resurrects ‘Alternative B’ for Routing
By Jim Daly B is back. That is, what the Federal Reserve Board back in 2011 dubbed “Alternative B” for implementing the transaction-routing requirements in the Dodd-Frank Act’s Durbin Amendment. Alternative B would have required each debit card to provide the merchant access to at least two signature and two …
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