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A form of near-field communication that does not require a secure element to complete a mobile payment now has the formal backing of card brands MasterCard Inc. and Visa Inc. Each of them announced today their respective contactless payment schemes support so-called host card emulation. Host card emulation got a …
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Mobile Payments Growth Fuels Apriva’s $9.55 Billion in 2013 Transaction Volume
Mobile point-of-sale payment provider Apriva marked $9.55 billion in transactions through its payment gateway in 2013, a 17.3% increase from $8.14 billion in 2012, fueled by growth in mobile payment acceptance, cashless vending, and its gateway service. Mobile POS payments, in particular, saw exceptional growth in 2013 versus 2012. Apriva …
Read More »Lamassu Claims First U.S. Bitcoin ATM Deployment with Installation in New Mexico
What is said to be the first ATM for Bitcoins in the United States was announced on Tuesday by Lamassu Inc., which made the machine. The ATM is installed in a cigar bar and lounge near the University of New Mexico in Albuquerque, according to a news release from Lamassu. …
Read More »The Feds Give a Cautious OK to Financial Services for Legal Marijuana Sellers
The gradual lowering of barriers that have kept legal marijuana merchants outside of the financial mainstream gained momentum Friday in Washington, D.C. The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCen) and the U.S. Department of Justice announced new guidelines that signal federal approval for banks to serve legal marijuana …
Read More »Square Snags Seven Whole Foods Stores in Another Move Up Market, Updates Square Cash
Consumers shopping at seven Whole Foods Market locations in Austin, Texas, New York City, Florida, and the San Francisco Bay area now can use their Square Wallet apps to pay for merchandise inside the stores. Whole Foods and Square Inc. are installing Square Register-equipped iPads on Square Stands inside these …
Read More »Durbin Wants To Know How Well His Debit Card Fraud-Prevention Adjustment Is Working
In the wake of recent data breaches at Target Corp. and other retailers, U.S. Sen. Richard Durbin, author of a famous amendment that regulates debit card interchange, and an ally want to know how well a provision in the amendment that gives a debit card issuer an extra penny in …
Read More »Revel Systems Adds Bitcoin Support to its iPad POS System
Revel Systems Inc. is the latest payments organization to support Bitcoin with the announcement Tuesday that consumers can use the digital currency with its iPad-based point-of-sale system. San Francisco-based Revel is working with Bitcoin wallet provider Coinbase to integrate acceptance. Revel added Bitcoin acceptance because of about 30 requests from …
Read More »MCX Takes Big Step Toward Launch With Deal To Use Paydiant Mobile Technology
Merchant Customer Exchange, the retailer-controlled mobile-payments network, took another step toward launch on Wednesday when it announced a deal with Paydiant Inc. to use the startup wallet provider’s technology at member merchant locations. Dallas-based MCX also said Wendy’s International LLC, the hamburger chain, and regional grocery chain Acme Fresh Market …
Read More »ISOs Hone Their Tablet-based Point-of-Sale Products
Up Solutions, the cloud-based point-of-sale division of United Merchant Services Inc., has set its Up Tab restaurant POS system at zero cost for resellers, the company announced today. Separately, Harbortouch has updated its POS Sales Center iPad app with new functions. Comprising an Android-based tablet, stand, printer, card reader, and …
Read More »Cover Story: Bitcoin’s Bid For Acceptance
Merchants are starting to accept the fast-rising digital currency, including big names like Overstock.com. But for now Bitcoin’s volatility and other issues may outweigh its advantages for merchants and acquirers. By Peter Lucas “In response to Bitcoin’s rise in popularity around the world, Zynga, with help from BitPay, is testing …
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