The migration of payment card fraud to the Internet in the wake of EMV chip cards coming to the point of sale is not new, but new findings from a company that specializes in card-not-present risk control and chargeback reduction provide insights on the breadth of the problem and offer …
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On a Growth Trajectory, Amazon Pay Looks To Go ‘Beyond the Button’ in 2017
Amazon.com Inc. announced an integration this week with an e-commerce platform called BigCommerce for its Amazon Pay service, but the company also clearly entertains big ambitions for the payment product it organized as a business in 2015. For now, Amazon Pay is on an upward trend. Some 33 million consumers, …
Read More »The OCC Moves Ahead With Its Fintech Bank Charter, but Blowback Grows
The Office of the Comptroller of the Currency has provided additional details about evaluating applications for its proposed limited-purpose national bank charter for financial-technology companies, but voices critical of the charter are growing louder. The OCC, a unit of the U.S. Treasury Department that regulates national banks, first proposed the …
Read More »First Data Agrees to Acquire Acculynk, a Pioneer in PIN Debit for Web-Based Transactions
The idea of allowing consumers to use PIN debit cards to pay online merchants has been a tough sell in the payments business, but observers hope a deal announced Thursday may give it a much-needed boost. Processing kingpin First Data Corp. said it will acquire Acculynk Inc., a 9-year-old Atlanta-based …
Read More »Amends Made, Green Dot Appoints a Formerly Hostile Investor as a Board Advisor
Ten months after prepaid payments specialist Green Dot Corp. made amends with investor Harvest Capital Strategies LLC over a dispute about the company’s direction, Green Dot is adding a Harvest executive as an observer and advisor to its board of directors, the company announced Monday. Pasadena, Calif.-based Green Dot says Jeffrey …
Read More »With Its Surprise Higher Bid, Euronet Tries To Step on Ant’s Plan To Acquire MoneyGram
Euronet Worldwide Inc., owner of the Ria money-transfer service, early Tuesday announced a $1 billion bid to acquire Dallas-based MoneyGram International Inc. Euronet’s unexpected bid casts a cloud of uncertainty over the $880 million buyout offer China-based Ant Financial Services Group submitted for MoneyGram in January. Leawood, Kan.-based Euronet called …
Read More »Chase’s Technology Deal With MCX Is Likely to Boost Chase Pay As CurrentC Declines
The long downward spiral of Merchant Customer Exchange LLC reached another milestone Friday with JPMorgan Chase & Co.’s announcement that it is acquiring technology assets from MCX. The money-center bank will use the technology to help launch its fledgling Chase Pay mobile wallet with more merchants. Waltham, Mass.-based MCX is …
Read More »Decoupled Debit Could Have Prospects for New Growth As Merchants Take Another Look
Decoupled debit programs may yet yield rewards for merchants, especially as they look for ways to circumvent payment networks and spur loyalty among consumers. That’s the take from a new report, “Decoupled Debit: The Start of Mainstream Adoption?” issued by Mercator Advisory Group Inc. Decoupled debit is not a new …
Read More »Some Data from Chase May Show How the Fledgling Zelle Could Outrun PayPal’s Venmo
All eyes in the person-to-person payments business may be on Venmo these days, but a few tantalizing numbers released last week by JPMorgan Chase & Co. could indicate that a new, bank-controlled payments service set to launch this year will literally give PayPal Holdings Inc.’s P2P app a run for …
Read More »Building a Base of Mobile Payers May Require Players To Pay
For mobile-wallet providers, card issuers, and merchants trying to attract consumers to their mobile-payment services, the way to build a base of active customers can be summarized in two words: pay up. New findings from Auriemma Consulting Group based on research with 1,505 payment card holders eligible for mobile-payments programs …
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