Digital Transactions Authoritative, insightful and timely information for payments professionals
It had been fairly quiet on the retailer data-breach front for quite some time until Wednesday, when news broke that Target Corp. had suffered what apparently was a major breach of magnetic-stripe data from payment cards. Target confirmed Thursday that the breach potentially compromised 40 million credit and debit accounts, …
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Cover Story: Targeting the Traditional POS
By Kevin Woodward With the invasion of smart phones and tablets, the iconic payment terminal—and the entire point of sale—is getting a new look. Are the traditional terminal’s days numbered? Perhaps no other device serves as an icon of the payments industry like the point-of-sale terminal. Sitting on a merchant’s …
Read More »Interchange Relief And Other Carrots Needed To Spur U.S. EMV Conversion, Analyst Says
Europay-MasterCard-Visa (EMV) chip cards will come to the U.S., but probably not before the payment card networks postpone current deadlines and offer strong incentives for merchants that might include interchange relief and dumping the signature as a cardholder- verification method, according to a new research report from Celent LLC. Card …
Read More »Postponement of October 2015 U.S. EMV Liability Shift Is Likely, a DTN Poll Finds
The first major deadline in the transformation of U.S. credit and debit cards from magnetic-stripe tokens to smart cards embedded with a chip is just under two years away. Come October 2015, the liability for fraudulent transactions shifts to merchants that do not support the chip card standard EMV. n …
Read More »Google Gets Physical with the Debut of the Google Wallet Card
Google Inc. today announced the availability of a payment card to accompany its Google Wallet online and smart phone-based service. The card, which is funded by money held in a consumer’s Google Wallet account, can be used at point-of-sale locations that accept MasterCard Inc. transactions. MasterCard was part of …
Read More »Official Calls the Rollout of Chicago’s Ventra Fare-Payment Program a ‘Systemic Failure’
It’s been one bump after another for the Chicago Transit Authority’s new Ventra fare-payment system that includes a contactless prepaid MasterCard Inc. card. The latest came today when the chairman of a Chicago-area transportation oversight board dubbed Ventra’s rollout a “systemic failure” and called for an audit of the fare …
Read More »New AnywhereCommerce Card Reader is Smaller and Cheaper than Its Predecessor
AnywhereCommerce, a Montreal-based engineering firm, has released an updated version of its Nomad wireless chip-card reader that is smaller and less expensive than the inaugural version of the device, the company announced Tuesday. Nomad 2.0 uses Bluetooth wireless technology to connect with mobile devices operating on Google Inc.’s Android, Apple …
Read More »Coin Gets Lots of Buzz, But May Get Devalued When the Euphoria Wears off, Experts Say
The Coin card, which officially launched last Thursday but is not yet available in the market, is generating a tidal wave of buzz in the press and on social-media sites but is not wowing payments experts contacted by Digital Transactions News. “It’s solving a problem that doesn’t really exist,” says …
Read More »Security: Peace of Mind: Is It Worthwhile?
Jim Daly Data-breach insurance has become a mainstream product in the merchant-acquiring business, but some executives say PCI compliance and diligent security practices negate the need to buy coverage. What’s next? The unnerving reality that credit and debit card-accepting merchants and their processors can have their computer systems hacked spawned …
Read More »Card Makers Look To Fill Their EMV Dance Card
Peter Lucas Having invested in new equipment, payment card manufacturers are ready to churn out EMV cards by the millions in the U.S. But issuers that wait too long could be caught short. Common in nearly all of the developed world, Europay-MasterCard-Visa (EMV) chip cards have been a long time …
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