Digital Transactions Authoritative, insightful and timely information for payments professionals
By Jim Daly In its second major Google Wallet announcement of the week, search-engine giant Google Inc. today said it is bringing the digital wallet for the first time to Apple Inc.’s iPhone, a move that opens the wallet to tens of millions of potential new users. And like Tuesday’s …
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As Biometrics Picks up Steam, Jumio Adds Facial Recognition to ID Verification
With static passwords losing more and more effectiveness as an authentication method, biometric identification is regaining momentum after years on the sidelines. A recent major example of this resurgence is Apple Inc.’s introduction this month of its new iPhone 5S, which features a fingerprint sensor to unlock the device. The …
Read More »New Google Wallet Plays Up Loyalty And P2P Payments, Downplays NFC
Google Inc. on Tuesday unveiled a new mobile app for its Google Wallet that emphasizes the wallet’s loyalty and person-to-person payments features that in the past had taken a back seat to its point-of-sale payment capability based on near-field communication (NFC) technology. The app is now available to all smart …
Read More »Report: Acquiring Will Boast Robust Growth, But ISOs Must Change Tactics to Cash in
By John Stewart n The good news for merchant processors is that the U.S. acquiring market will turn in a robust performance over the next five years, growing at an average annual rate of 10.5%. The bad news, at least for acquirers that remain wedded to conventional terminals and conventional …
Read More »New Funding Round Recognizes Paydiant’s Strategy to Stand Apart in Crowded Wallet Field
It may well be the mobile-payments app provider you never heard of, but Paydiant Inc. is winning deals with major banks, processors, and merchants, and on Tuesday it secured $15 million in a Series C round of funding. The financing brings to almost $35 million the cash injections the Wellesley, …
Read More »Hearing Will Be a Milestone in Interchange Litigation, But Maybe Not the End
Eight years from their genesis, the lawsuits challenging bank card interchange now collectively known as MDL 1720 are scheduled to reach a milestone Thursday when U.S. District Judge John Gleeson convenes a so-called fairness hearing in his Brooklyn, N.Y., courtroom. The hearing’s purpose is for Gleeson to determine whether …
Read More »The IRS Delays for a Year Withholding on Card Volume Arising From Data Discrepancies
The Internal Revenue Service is delaying for a year its planned withholding requirement for payment-card-accepting merchants whose names and taxpayer identification numbers (TINs) supplied by their merchant processor do not match the corresponding information the IRS has on file, the Electronic Transactions Association reported to its membership today. The delay …
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 »Almost Battle-Ready With New Products, VeriFone Tries To Recover Lost Business
VeriFone Systems Inc. continued on its road to recovery during its third quarter of fiscal 2013 ended July 31, a road that led the leading U.S. point-of-sale terminal maker through a sharp drop in revenues in some countries and ended with a $1.9 million loss versus a $37.7 million …
Read More »Isis Adds Specialty POS Equipment Providers As It Readies Its National Rollout
By Jim Daly The Isis mobile-payments service on Wednesday said five specialty point-of-sale hardware makers would integrate Isis’s SmartTap technology into their products. The companies join a number of major POS terminal makers, including U.S. market leaders VeriFone Systems Inc., Ingenico S.A. and Equinox Payments, already committed to supporting Isis …
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