Digital Transactions Authoritative, insightful and timely information for payments professionals
Payment processors First Data Corp. and Total System Services Inc. (TSYS) will have key roles in securing transactions using tokenization technology for payments consumers make with Apple Inc.’s newly announced Apple Pay mobile-payments scheme. The Cupertino, Calif.-based computer giant made the announcement as part of its unveiling Tuesday of …
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Apple Unveils an ‘Entirely New Payment Process’ with Apple Pay
After weeks of fevered anticipation, it’s finally out. Apple Inc. on Tuesday unveiled a new payments system called Apple Pay along with its iPhone 6 and large-screen iPhone 6 Plus smart phones and a snazzy new smart watch. As predicted, the updated iPhone uses near-field communication (NFC) technology for fast …
Read More »Twitter Launches M-Commerce Test With a ‘Buy’ Button and 28 Partners
In its latest move toward becoming a force in electronic payments, social network Twitter Inc. reported Monday that it is starting a test allowing members to make purchases via tweets from 28 partners that include merchants, rock bands and non-profits. “For a small percentage of U.S. users (that will grow …
Read More »The U.S. EMV Migration Produces a Windfall for POS Terminal Producer VeriFone
It’s a good time to be a point-of-sale terminal maker when all of your customers have to go through the payments equivalent of abandoning the horse and buggy and jumping into an automobile. With a major U.S. deadline for converting from magnetic-stripe payment cards to the Europay-MasterCard-Visa (EMV) chip card …
Read More »Eye on Branding: As Wallets Struggle, MCX Dubs Its Scheme CurrentC While Isis Says It Is Now Softcard
The Merchant Customer Exchange, a retailer-controlled mobile payment scheme, has given its service a name. Dubbed CurrentC, the service will not be available outside of testing until 2015. First announced in 2012, the long-gestating scheme aims to give participating retailers their own mobile-wallet service that eschews the traditional payment …
Read More »The Gimlet Eye
Why ‘Going Beyond Payments’ Is Nothing New The mantra these days, heard at all trade shows, read in all trade articles, quoted seemingly ad nauseum, is that “payments aren’t enough.” People offer this observation on the insufficiency of payments as a prelude to the idea that processors, acquirers, and hardware/software …
Read More »Trends & Tactics
MasterCard Sees Dollars in Tokens As mobile payments and the use of tokens for payment security grow, at least one card network is seeing an opportunity for new fee revenue. MasterCard Inc. is planning new “digital enablement” fees, one for merchant acquirers and others for card issuers. The fees are …
Read More »Security Notes: No Sweat, My Robot Will Pay
No Sweat, My Robot Will Pay Gideon Samid • Gideon@BitMint.com The decision to purchase and pay is quintessentially human, or so we believe today. Computers account for decision-support data, convenient payment-handling devices, and automated accounting. But the pivotal determination to actually make a payment remains in the unchallenged human domain, …
Read More »Cover Story: Is it Still Hip to Be Square?
Is it Still Hip to Be Square? The answer, after five eventful years, is yes. But it needs to find a consumer strategy, and right now there’s no app for that. Nobody in the staid world of the payments business had ever seen anything like it before. Dozens of buttoned-down …
Read More »Security: Unintended But Predictable
Unintended But Predictable The U.S. arrival of EMV virtually ensures criminals will step up attacks on card-not-present channels, which EMV doesn’t protect. So what is the industry doing to defend itself? Just about everywhere that Europay-MasterCard-Visa (EMV) chip cards have replaced magnetic-stripe payment cards, greatly strengthening the shield protecting brick-and-mortar …
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