Digital Transactions Authoritative, insightful and timely information for payments professionals
Bluetooth low energy beacons will play a key role in a mobile payment and loyalty service being developed by SK Planet Inc. and DoubleBeam Inc. that promises easier mobile payments and offer redemption. The beacons connect Bluetooth low energy-compatible smart phones with DoubleBeam’s GoPago tablet-based point-of-sale system. Now in …
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Offering a Vault And a Wallet, Bitcoin Venture Xapo Prepares Mid-July Debit Card Launch
Bitcoin vault provider Xapo Ltd. is days away from sending debit cards backed by the digital currency to consumers with registered Xapo Bitcoin accounts. The Palo Alto, Calif.-based startup, which is incorporated in Hong Kong, also raised $20 million in a recent investment round, bringing its total investment bounty …
Read More »Deciding to Change the Isis Brand May Be the Easy Part Compared to Doing It
The decision by JVL Ventures LLC to rename its Isis mobile-payments company may have been the easy part. Actually scrapping the brand and replacing it with a new name and logo will be much more challenging, experts say. “It’s a huge rebranding exercise,” says Nick Holland, who follows mobile payments …
Read More »It May Be Late to Faster-Funding Game, But PayPal Boasts Size And Experience Edge
Catching up with rivals, PayPal Inc. on Monday joined a growing list of e-payments providers that are speeding up settlement time for U.S. merchants. But instead of making faster payments generally available, the San Jose, Calif.-based eBay Inc. subsidiary is offering to cut funding time from up to four business …
Read More »First Data Goes All in on U.S. Gambling Growth with the Full-Deck PayLucky Product Suite
With an eye to capturing a share of the potential $2.6 billion in U.S. online gambling revenue expected by 2017, payment processor First Data Corp. launched PayLucky, a suite of existing products for gambling and gaming providers, the company announced today. The suite, which includes the Clover point-of-sale system, prepaid …
Read More »Reaching 70% Penetration, Smart Phones Cement Place As Rapidly Adopted Technology
Virtually non-existent seven years ago, the smart phone is steadily establishing its place as perhaps the most rapidly adopted consumer electronic device in U.S. history. Some 70% of U.S. mobile subscribers—or 169 million people—owned one by the end of May, up from 66% just since February, according to the latest …
Read More »Draper Eyes Emerging Markets With Bitcoin Bounty
By Kevin Woodward Venture capitalist Timothy Draper wants to use the nearly 30,000 Bitcoins he won last week in an auction held by the U.S. Marshals Service to fund a Bitcoin trading platform targeting emerging markets, he said last week following the auction. He would not disclose the price of …
Read More »Bill Would Put a Chokehold on the Justice Department’s Operation Choke Point
The U.S. Department of Justice’s controversial Operation Choke Point, an effort to cut off high-risk merchants’ access to electronic payments by challenging the banks and processors that serve them, continues to draw fire. The latest missile comes in the form of a bill from U.S. Rep. Blaine Luetkemeyer, R-Mo., who …
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You Said How Many EMV Cards? The conversion of U.S. magnetic-stripe credit and debit cards to the Europay-MasterCard-Visa (EMV) chip card standard is finally under way, but just how quickly most Americans will be carrying smart cards is a matter of debate. Citing reports from industry suppliers, the EMV Migration …
Read More »Acquiring: Transit’s New Payment Routes
Jim Daly For a time, it seemed like open-fare contactless smart cards might take over payments on America’s buses, subways, and commuter trains, but then along came smart phones and EMV. The only thing that moves slower than a bus stuck in a 5:00 p.m. traffic jam is the process …
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