In a break from the practice of most EMV chip card issuers, TCF National Bank reported this month that it will be issuing all of its customers’ debit cards with both contact and contactless capabilities. The bank, the principal subsidiary of Wayzata, Minn.-based TCF Financial Corp., said it will begin …

By John Stewart@DTPaymentNews Wal-Mart Stores Inc.’s deal with JPMorgan Chase & Co.’s ChaseNet processing network, announced Thursday morning, proves that the nation’s biggest retailer can make peace with the big card brands if the terms are right. And it may indicate bigger prospects for Chase’s ambitious merchant-acquiring operation. Under the …

By John Stewart@DTPaymentNews Same-day processing starts Friday on the nation’s automated clearing house network, and months of preparation and planning appear to be paying off.  “Everybody is heads-down getting it done. We haven’t been getting any SOS calls,” Jane Larimer, executive vice president of network services at NACHA, the governing …

• The total value of contactless transactions worldwide will reach nearly $500 billion next year, up fully 56% from an estimated $321 billion in 2016, according to Juniper Research. • Samsung Electronics America Inc. said more than 500,000 replacement Galaxy Note7 phablets have arrived in the U.S. and will be available …

By Kevin Woodward@DTPaymentNews Acquirers and processors have until Oct. 14 to prepare their systems for a new range of bank-identification numbers MasterCard Inc. intends to add to its inventory for issuers. Announced in 2014, the move is an attempt to stymie a possible exhaustion of BINs. These numbers are the …

• Processor Fiserv Inc. said a new scoring model for its Payment Fraud Manager service designed specifically for automated clearing house transactions detected more than 90% of fraud while reviewing only 2% of the transactions in model validation tests. • Payment gateway Network Merchants LLC announced its SwIPe EMV chip …

By Jim Daly@DTPaymentNews The dispute between Wal-Mart Stores Inc. and Visa Inc. over payment card acceptance costs intensified Thursday when the retailer’s Walmart Canada unit announced that it will extend its ban on Visa credit card acceptance from Thunder Bay, Ontario, to its 16 stores in the province of Manitoba. …

By Kevin Woodward@DTPaymentNews Two million U.S. merchants accept EMV chip cards at the checkout almost a year after the card brands made merchants also liable for counterfeit card use. That tally is a 468% increase from Oct. 1, 2015, the date of the liability shift, says MasterCard Inc., which provided …

• USA Technologies Inc., a provider of wireless payment services for vending machines and other unattended merchant locations, reported $169 million in purchase volume on its 429,000-location network in the fourth quarter of fiscal 2016 ended June 30, up 50% from a year earlier. Transaction volume hit 89 million, up …

By Jim Daly@DTPaymentNews If you think the upcoming 2016 elections are only about The Donald versus Hillary, think again. A bill in the House of Representatives that would significantly alter the controversial Dodd-Frank Act and repeal its contentious Durbin Amendment passed the House Financial Services Committee Tuesday on a 30-26 …