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MasterCard Inc. is planning new “digital enablement” fees, one for merchant acquirers and the other for card issuers, that will generate revenue for the network as mobile payments and the use of tokens that substitute for actual payment card numbers increase. The fees are outlined in recent MasterCard bulletins for …
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Target’s Data Breach Costs Now Total $236 Million
Target Corp. on Tuesday issued an update on its data-breach expenses for the second quarter that brings total costs to $236 million, including expenses in the first quarter and late 2013. The Minneapolis-based retailer expects gross breach-related expenses in the second quarter to be $148 million, offset by $38 million …
Read More »Eye on Management: Leadership Change at the PCI Council; Roam Data’s Paull Leaves
The PCI Security Standards Council has hired a former MasterCard Inc. executive as its new general manager to replace the retiring Bob Russo, and point-of-sale terminal maker Ingenico S.A.’s mobile-payment subsidiary Roam Data has a new leader. Russo, who became the PCI Council’s first general manager in March 2007,about six …
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 »Retailer Confidence in Detecting Data-Security Breaches Abounds, But Is It Warranted?
Retailers have a hearty sense of confidence when it comes to how quickly their organizations would detect a data breach, especially one that targets sensitive payment information, finds a survey from Tripwire Inc., a data-security company. In the survey of 154 retail organizations, 60% said their systems could detect a …
Read More »Spurred by Fraud and Fear, Debit Card Issuers Cast Aside Their EMV Reservations
Nothing like a good data breach to serve as a kick in the pants. Thanks in part to Target Corp.’s breach that compromised 40 million payment cards, debit card issuers are committing themselves to the Europay-MasterCard-Visa (EMV) chip card standard to a much greater extent than they did a year …
Read More »EMV Acceptance Likely To Get A Boost When Walmart Chip Cards Begin Showing Up
The debut this summer and later in the year of chip cards for cardholders of Walmart and Sam’s Club branded credit cards likely will spur other retailers to accept the new payment card technology. That’s the finding from a Digital Transactions News survey that asks if the issuance of …
Read More »Mobile Deposit for Prepaid Cards And Wallets Poses Heightened Fraud Risk, A New Study Finds
The technology to deposit checks into prepaid cards or mobile wallets using a smart phone is less than two years old, but already the channel is proving to be 33 times more prone to fraud than mobile deposits into bank accounts, according to data from Fidelity National Information Services Inc. …
Read More »Sam’s Club And Walmart To Offer MasterCard-branded EMV Cards
Wal-Mart Stores Inc. will be among the first retailers, if not the first, to offer store-branded credit cards with Europay-MasterCard-Visa (EMV) chips when its new cards bearing a MasterCard Inc. logo are issued this month. That’s well in advance of an October 2015 deadline from the major card networks …
Read More »Acquiring: Congress Sees a Need To ‘Do Something’ About Data Security
Jim Daly Has the U.S. payment card industry invited federal regulation by taking so long to replace the magnetic stripe? The massive data breach at Target Corp. as well as other cyber thefts at national retailers disclosed over the past six months have raised the unwelcome possibility among merchant acquirers, …
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