Digital Transactions Authoritative, insightful and timely information for payments professionals
A little software company gone bust won big against leading point-of-sale terminal maker VeriFone Systems Inc. in a patent-infringement verdict June 8. A federal jury in Texas found after a five-day trial that VeriFone infringed on two patents held by CardSoft Inc. and awarded damages and royalties of $15.4 million. …
Read More »Search Results for: digital payments
ACH Transaction Volumes Might Be Headed for a ‘New Normal’
Driven by fast growth in “native payments” that dispense entirely with paper checks, total automated clearing house network volume increased 4.4% in the first quarter over the year-earlier period, the ACH network’s highest quarterly increase since 2008’s fourth quarter. Michael Herd, managing director of network rules at ACH governing body …
Read More »List of Penn Station Restaurants Possibly Hit by Data Breach Grows
The Penn Station East Coast Subs submarine-sandwich restaurant chain says 59 of its 238 locations are now “potentially affected” by a debit and credit card data breach. Parent company Penn Station Inc. first said when it disclosed the breach June 1 that 43 franchisee-owned stores possibly were affected, but the …
Read More »By Mating GoPayment with QuickBooks POS, Intuit Could Steal a March on Square
Intuit Inc.’s announcement on Tuesday that it has integrated its GoPayment mobile-payment processing application with its QuickBooks Point of Sale 2013 software is expected to make GoPayments more appealing to small businesses than rival products from the likes of Square Inc. and PayPal Inc. Earlier this week, Square announced that …
Read More »The Gimlet Eye: Plenty of Blame for the Small-Ticket Mess
Things have come to a pretty pass when merchants say it’s cheaper for them to give away their product than to sell it. Yet that’s what a 7-Eleven franchisee is saying about the newspapers he sells in his store to customers who pay with a debit card. As reported in …
Read More »Trends & Tactics: Big Merchants Fuel ACH Debit Cards
It’s an obscure transaction code that even many payments people haven’t heard of. But POS, the code established by the automated clearing house network for debit card payments, is surging as major merchants adopt the payment method and offer significant rewards to customers who use it. The POS code, which …
Read More »Security Notes: The Tyranny of Critical Mass
Gideon Samid • Gideon@AGSgo.com A timely article in the May issue of this magazine, “Why Payments Startups Fail,” points out that the hurdle of critical mass has doomed many novel payment systems. The article argues that critical mass is necessary for success, but the downside is that it can lead …
Read More »Acquiring: Who Will Be Ready for Chip Cards?
Karen Epper Hoffman The card networks have weighed in with their U.S. EMV policies, but doubts persist among acquirers about whether processors and merchants will be able to meet the networks’ deadlines.“Is EMV Finally, Actually, Really Here?” That was the name of one of the most popular education sessions hosted …
Read More »Marketing: The Premature Obituary for Debit Rewards
Jane Adler Durbin’s cap on interchange for big banks was supposed to be the death knell for debit card rewards. Instead, rewards programs are flourishing, albeit with a few twists. “Relationship rewards,” anyone? After caps on debit card interchange rates went into effect last fall, KeyBank took a contrarian approach. …
Read More »Cover Story: Cybercrime Eyes Mobile
Hey, mobile-payments types: the fraudsters are gunning for you. What are you doing to keep fraud at bay? So far, the known mobile-payments security lapses have proven to be more embarrassments than the truly damaging data breaches seen with more conventional payment methods. For example, Square Inc. initially passed out …
Read More »