Digital Transactions Authoritative, insightful and timely information for payments professionals
Mobile dominates this year’s Guide, as you’d expect, but so does the urge toward faster payments. Neither trend is going away any time soon. The obvious theme running through alternative payments nowadays is the predominance of mobile. Processors, solutions vendors, and startups alike are scrambling to make it possible to …
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Endpoint: The New Mobile Ecosystem
Collaboration between banks, mobile carriers and utilities could pave the way for enhanced services, including money transfers, says Eyad Hasan. Is there an ongoing dispute between banks and mobile service providers? Absolutely not. Eyad Hasan is senior project manager at EastNets Holding Ltd., with U.S. offices in Los Angeles and …
Read More »Nelms: PayPal Deal Helps Make Discover the ‘Alternative Network for Alternative Payments’
With a major expansion of its arrangement with PayPal Inc. due later this year, Discover Financial Services is now “the alternative network for alternative payments in the United States,” Discover chief executive David W. Nelms told an audience of merchant acquirers on Wednesday. Hinting that more deals similar to …
Read More »Execs with Major Retailers Complain EMV Attacks Wrong Problem at Huge Expense
n In the case of some merchants, a high rate of PIN acceptance is already controlling fraud, the merchants said. “Our actual fraud rate is so small it’s hardly worth mentioning,” said Gavin Waugh, vice president and assistant treasurer at Wendy’s International Inc. “[EMV] doesn’t move the needle that …
Read More »Smaller Debit Issuers, Exempt from Durbin Caps, Still Feel Pricing Impact, Expert Says
The provisions of the Durbin Amendment to the 2010 Dodd-Frank Act are starting to hurt smaller issuers’ debit card income even though these financial institutions are explicitly exempted from the law’s cap on interchange rates, according to a debit expert. “This phenomenon is happening as we speak,” said Tony …
Read More »PayPal Hikes Offline Merchant Count by 11% with First-Quarter Jump
Nearly 20,000 U.S. merchant locations now accept PayPal, up from 18,000 three months ago, according to data released on Wednesday in tandem with eBay Inc.’s quarterly earnings report. San Jose, Calif.-based PayPal Inc. is a unit of eBay. The roughly 11% jump in merchant acceptance for PayPal since eBay’s …
Read More »The Gimlet Eye: A Big—But Not Revolutionary—Change
It is the bane of the business press that it is prone to hyperbole. This or that development or trend, worthy of being reported but hardly the Second Coming, is heralded as such in tones of institutional sincerity. Such is the temptation with the news, which broke late in February, …
Read More »Trends & Tactics: The Fed Lets Its Durbin Regs Stand
As they began their work, some Federal Reserve Board governors expressed uneasiness with the task Congress assigned them in 2010 through the Dodd-Frank Act: implement the debit card regulations called for in the sweeping law’s Durbin Amendment. In March, however, the Fed expressed enough satisfaction with its handiwork to declare …
Read More »Acquiring: Is the National Merchant Market Near an End Game?
Marc Abbey Competition in acquirer fees for large merchants is declining, cementing market shares in place. Here’s why. It has long been the conventional wisdom in U.S. acquiring that the large merchant market was the most difficult, lowest-margin, most commoditized part of the business. Large merchants ranging from the lower …
Read More »Acquiring: Capped Off
Karen Epper Hoffman It’s been 18 months since the Durbin Amendment’s debit card interchange cap took effect. Who is benefitting the most from the first government intervention into card-acceptance pricing? A year-and-a-half after the Durbin Amendment’s debit card interchange cap took effect, the radical legislation that created the cap remains …
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