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Groupon Inc. redoubled its efforts to penetrate the point-of-sale market with its acquisition of New York City-based software startup Breadcrumb, whose product lets restaurants run transactions on iPad tablets. The deal, announced on Tuesday, follows news that the Chicago-based daily-deal giant is testing a mobile-acceptance service in and around San …
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Hit by Durbin, Visa’s U.S. Debit Volume Shrinks by Double Digits in April
Visa Inc. has been saying for months that the Durbin Amendment’s transaction-routing and network-exclusivity rules, which took effect April 1, would take a bite out of its debit business. Gash might be a better word for the amendment’s initial effects, especially on the Visa-owned Interlink PIN-debit network. The No. 1 …
Read More »Reports Indicate Groupon Is Joining a Crowded Field of Mobile-Acceptance Players
Just as payments executives were preparing to plunge into the Memorial Day holiday weekend, reports emerged that Groupon Inc. is testing a mobile-acceptance application in and around San Francisco. The reports, which are based in part on a solicitation received via e-mail by a merchant, indicate that the Chicago-based daily-deal …
Read More »Card-Not-Present Processor Litle Reports Durbin Has Cut Debit Interchange in Half
Online merchants and other card-not-present retailers that have so-called interchange-plus agreements with their acquirers are enjoying significantly lower transaction costs thanks to the Durbin Amendment, if research from processor Litle & Co. posted on Wednesday is any indication. Litle’s numbers indicate its client merchants have seen interchange costs cut in …
Read More »PayPal Signs 15 New Retailers for POS, Plus Terminal Makers and App Developers
PayPal Inc. on Thursday announced that 15 more retailers had joined its point-of-sale initiative, which means the No. 1 alternative-payments provider is now more than three-quarters of the way toward meeting its stated goal of having 20 national retailers accepting PayPal at physical stores by the end of 2012. PayPal …
Read More »MasterCard Proposes an Industry-Wide Group To Spur EMV Payments
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Read More »Tyfone Announces Patents for Design that Reduces NFC Antennas for Mass Production
Tyfone Inc. on Monday announced it has been awarded a pair of U.S. patents that the Portland, Ore.-based company says should make it easier to manufacture in commercial quantities key elements for mobile payments based on near-field communication (NFC) technology. NFC is a two-way contactless technology that allows, for example, …
Read More »PCI Council’s Latest Mobile Guidance Doesn’t End Freeze on App Approvals
The PCI Security Standards Council on Wednesday published guidance on how merchants can accept card payments through smart phones and tablet computers while protecting sensitive cardholder data. The guidelines, however, do not bring to an end an 18-month-old freeze the council has imposed on approvals of software applications for mobile …
Read More »Payments Players Start to Look to EFT to Speed up P2P Transactions
Internet PIN-debit technology provider Acculynk Inc. this summer will start a pilot for a person-to-person payment system that will rely on PIN authentication and debit card network links for money movement. The Atlanta-based company has commitments for the project from between 20 and 30 financial institutions that use Acculynk for …
Read More »In Wake of FBI Report, Bitcoin Backer Says Benefits Outweigh Risk of Criminal Use
A Federal Bureau of Investigation report warning that criminals could use the electronic currency Bitcoin for money laundering and other illicit activities does not reflect the majority of activities for which the currency is actually used, a Bitcoin developer tells Digital Transactions. “Asking Bitcoin if they have a response to …
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