Digital Transactions Authoritative, insightful and timely information for payments professionals
Should transactions be free? Dwolla Inc. thinks so. The processor last month eliminated its 25-cent transaction fee, effective on all transactions types. The fee, which had applied to transaction values exceeding $10, was typically paid by the receiver of the money. Des Moines, Iowa-based Dwolla processes person-to-person payments as well …
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Insights From the Front Lines
Payments 3.0 Among the payments topics discussed at the huge NACHA Payments 2015 conference, held in April in New Orleans, several stood out, both for the difficulty of the problems to be solved and for the fresh thinking on the part of leaders in the payments industry. A faster payments …
Read More »Falling Short on EMV
Every U.S. EMV chip card will have a backup magnetic stripe. That ensures widespread acceptance but can present risks. As EMV chip card payments finally take hold in the United States, an issue certain to show up on the payment industry’s radar is fallback. That’s when the customer inserts an …
Read More »The P2P Revolution
Mobile peer-to-peer transfer has led to ubiquitous, real-time payment in a social context. But can anyone make any money in this business? Nobody can say for sure when the first electronic person-to-person payment took place, but payments historians are pretty sure they can pinpoint the first official P2P transfer using …
Read More »What’s First Data Worth?
Possibly as soon as later this year, the processing giant will undergo a mammoth IPO. Here, a payments-industry analyst sizes up what the company can offer investors. The world’s largest payment processor, First Data Corp., is girding for an initial public offering, likely later this year. It promises to be …
Read More »Eye on Security: NCR Warns of New ATM Attack Method; Breach Suspected at Theme Park
Leading ATM manufacturer NCR Corp. this week issued a warning about a new variant of card skimming that gives an ATM user no clue that the machine’s card reader is stealing debit card information. Meanwhile, a report says payment cards used at a theme park in Hershey, Pa., may have …
Read More »EMV Confusion Helps Lift Encryption to Top of Merchants’ Security-Tech List
By Kevin Woodward Encryption technologies, which mask sensitive card data with mathematically derived characters and numbers, appear to be the security method that resonates best with merchants. That’s the result of a Digital Transactions News survey that asked about EMV, tokenization, and encryption. Forty-five percent of respondents cited encryption, followed …
Read More »COMMENTARY: Common Errors in Merchant Funding And How To Fix Them
As I see it, there are three main areas of vulnerability for merchant cash-advance (MCA) providers: 1. Incorrectly assessing the risk. What systems do you have in place for being able to analyze and manage your risk? Many MCA funders come into the market with six months’ runway and then …
Read More »Canadian Parliament Report Recommends a ‘Light Touch’ in Virtual-Currency Regulation
As states and national governments consider regulations for virtual currencies, a new report from a Canadian Senate committee recommends a “light touch” lest regulation stifle a promising young industry. In considering any legislation, regulations or policies, the Canadian federal government should “create an environment that fosters innovation for digital currencies …
Read More »Vantiv Wins the U.S. Postal Service’s Merchant-Processing Business
Merchant processor Vantiv Inc. has won one of the biggest retail merchant-processing contracts out there—the U.S. Postal Service’s credit and debit card business, including its USPS.com online component. Counting post offices, branches and substations, the Postal Service has more than 35,000 retail outlets in all 50 states, U.S. territories and …
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