Digital Transactions Authoritative, insightful and timely information for payments professionals
Point-of-sale terminal maker PAX Technology said processor Worldpay Inc. now supports its handheld A920 POS terminal. Ingenico Group released the Moby/C150 electronic cash register, an EMV-compatible tablet point-of-sale system. VeriFone Systems Inc. said it is using AES DUKPT, a security key management standard, in its encryption service VeriShield Total Protect, in …
April, 2018
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17 April
Fraud-Prevention Services Can Aid Merchant Retention, a Survey Finds
What impact can fraud-prevention services have on merchant retention? Apparently, quite a bit, finds the “State of Payment Processing & Fraud: 2018 Report” from Kount Inc. Kount, a Boise, Idaho-based risk-management technology provider, found that 75% of approximately 150 payment-processor respondents say offering fraud-control tools improved merchant retention. The high …
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17 April
Developers Work To Combine NFC With Blockchain for POS Transactions
So far, neither near-field communication nor blockchain has been a blockbuster technology for payments in the U.S. market, but now developers are working on combining the two in a way they hope will give cryptocurrencies a big boost at the point of sale. The idea is to create a standard …
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16 April
AmEx To Pull the Plug on Its Plenti Rewards Program After Determining That It Isn’t Rewarding
American Express Co. disclosed Monday that it will end its multi-merchant Plenti rewards program on July 10. AmEx announced the closure through a tweet on the Plenti Twitter feed and on Plenti’s Web site. “While Plenti has grown in scale since its launch, a number of factors, including shifting priorities …
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16 April
Klarna Will Bring a 30-Day Pay Later Option to the U.S. Market This Summer
Klarna Inc. is bringing another of its buy now/pay later products to the U.S. market this summer with broader availability later in the year. That’s the word from Jim Lofgren, chief executive of Klarna Inc., the North American arm of the Sweden-based online payments firm. Lofgren, speaking to Digital Transactions …
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16 April
Equinox Adds JCB Contactless Support and other Digital Transactions News briefs from 4/16/18
E-commerce platform 3dcart said its integration with payments provider PayJunction now includes automated clearing house transaction processing, remote signature capture, and tokenized cards on file services. In a bid to help merchants serve Japanese tourists, point-of-sale vendor Equinox Payments has added contactless support for JCB cards to its Apollo, L5000, …
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13 April
Paysafe’s Proposed Deal for iPayment Will Make the U.K. Firm a Top Player in U.S. Acquiring
Paysafe Holdings UK Ltd. hasn’t been shy about building scale via acquisitions, and on Thursday it announced one of its biggest deals yet in the U.S. merchant-acquiring business. It expects to close by the end of June on a transaction that will bring into its fold iPayment Holdings Inc., a …
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13 April
Masterpass Accepted on BJs.com and other Digital Transactions News briefs from 4/13/18
Mastercard Inc. announced that consumers shopping on BJs.com, the e-commerce site for BJ’s Wholesale Club Inc., now can use its Masterpass digital wallet as a payment method. JPMorgan Chase & Co. reported that it processed $316.3 billion in merchant payment volume in the first quarter, up 15% from $274.3 billion …
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12 April
The Sobering Lesson From the Latest AFP Survey: ‘Fraudsters Are One Step Ahead’
Payments executives may abhor fraudsters, but they have to admit the scamsters and hackers are a determined lot. The percentage of organizations sustaining actual or attempted payments fraud increased in 2017 for the fourth straight year, reaching a record high 78%, according to the latest “Payments Fraud And Control Survey” …
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12 April
Trump’s Proposed Tariffs on Chinese Goods Could Raise Prices for POS Equipment
President Donald Trump’s proposed 25% tariffs on about 1,300 Chinese products worth $50 billion have the merchant-acquiring industry worried. The Electronic Transactions Association, a national payments-industry trade group, joined more than 100 other organizations in signing a letter to the House Ways and Means Committee leadership expressing their “deep concern” …