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The Penn Station East Coast Subs submarine-sandwich restaurant chain says 59 of its 238 locations are now “potentially affected” by a debit and credit card data breach. Parent company Penn Station Inc. first said when it disclosed the breach June 1 that 43 franchisee-owned stores possibly were affected, but the …
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By Mating GoPayment with QuickBooks POS, Intuit Could Steal a March on Square
Intuit Inc.’s announcement on Tuesday that it has integrated its GoPayment mobile-payment processing application with its QuickBooks Point of Sale 2013 software is expected to make GoPayments more appealing to small businesses than rival products from the likes of Square Inc. and PayPal Inc. Earlier this week, Square announced that …
Read More »With New Retail Deals, Square Doubles Locations That Sell Its Card Readers
Merchant processor Square Inc. doubled the number of physical stores at which its now-famous payment card reader for mobile devices can be purchased with Monday’s announcement that the reader is available at Walgreen Co., Staples Inc., and FedEx Corp.’s FedEx Office stores. The three new merchants collectively add 10,000 locations: …
Read More »The Gimlet Eye: Plenty of Blame for the Small-Ticket Mess
Things have come to a pretty pass when merchants say it’s cheaper for them to give away their product than to sell it. Yet that’s what a 7-Eleven franchisee is saying about the newspapers he sells in his store to customers who pay with a debit card. As reported in …
Read More »Security Notes: The Tyranny of Critical Mass
Gideon Samid • Gideon@AGSgo.com A timely article in the May issue of this magazine, “Why Payments Startups Fail,” points out that the hurdle of critical mass has doomed many novel payment systems. The article argues that critical mass is necessary for success, but the downside is that it can lead …
Read More »Acquiring: Who Will Be Ready for Chip Cards?
Karen Epper Hoffman The card networks have weighed in with their U.S. EMV policies, but doubts persist among acquirers about whether processors and merchants will be able to meet the networks’ deadlines.“Is EMV Finally, Actually, Really Here?” That was the name of one of the most popular education sessions hosted …
Read More »Marketing: The Premature Obituary for Debit Rewards
Jane Adler Durbin’s cap on interchange for big banks was supposed to be the death knell for debit card rewards. Instead, rewards programs are flourishing, albeit with a few twists. “Relationship rewards,” anyone? After caps on debit card interchange rates went into effect last fall, KeyBank took a contrarian approach. …
Read More »Cover Story: Cybercrime Eyes Mobile
Hey, mobile-payments types: the fraudsters are gunning for you. What are you doing to keep fraud at bay? So far, the known mobile-payments security lapses have proven to be more embarrassments than the truly damaging data breaches seen with more conventional payment methods. For example, Square Inc. initially passed out …
Read More »Networks: Small Tickets, Big Pain
Lauri Giesen When the Durbin rate cap on debit took effect, it was supposed to give merchants a big break on acceptance costs. But sellers of items like soda and bus fares have seen their costs balloon, and that’s hurting emerging-payments markets. Lower costs are what most retailers should have …
Read More »Startup Claims More Than 1,000 Developers for Streamlined in-App Payment Plug-in
A startup called Zooz this week announced it has registered more than 1,000 developers for a payment plug-in that, the company says, streamlines card-based payments while users are within an app. Zooz, whose product is available for both Android and Apple iOS devices, also launched an HTML5 version to allow …
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