Digital Transactions Authoritative, insightful and timely information for payments professionals
Cover Story Transaction volumes are rising as NACHA executes on an ambitious agenda of new payments initiatives. Can everything the ACH network’s governing body wants come to pass? By Jim Daly Think you’re busy? Of course you are, but the folks at NACHA, governing body of the automated clearing house …
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Get Ready for Gateway 3.0
E-Commerce Peter Lucas Gateways have always had to reinvent themselves. Now, with e-commerce returning to double-digit growth and mobile payments poised for takeoff, they have to do it again—and this time with more competition than ever. Since their inception about a decade ago, gateways have marketed value-added services, such as …
Read More »The Gimlet Eye
Does EMV Make Sense in the United States? We pose the question above not because we are wondering about the answer, and still less because we doubt the benefits of chip-and-PIN security, but because a recent decision by Visa Inc. leaves us wondering what kind of future the world’s largest …
Read More »Android’s Popularity Could Boost New NFC Smart Phone Software
The rocketing popularity of Google Inc.’s Android operating system for smart phones could also propel near-field communication (NFC) technology for mobile financial services now that NXP Semiconductor and Giesecke & Devrient have introduced NFC software for Android phones. The open-source code, announced this week at a major telecom conference in …
Read More »Going for a Checkmate
Cover Story Going for a Checkmate VeriFone’s buyout of Hypercom will further its dominance of America’s POS terminal industry, which is in the throes of rapid change. Is there life beyond the box? BY JIM DALY It’s not your father’s point-of-sale business any more. It’s not even your older brother’s. …
Read More »Breach Investigations Show Alarming Advances In Malware
Hackers continue to improve malware, third-party vendors continue to serve their clients poorly when it comes to data security, and the evidence points to Russia as the single biggest source of attacks on databases. Those are some of the highlights in the new Global Security Report 2011 from Trustwave Holdings …
Read More »Eye on Mobile: Starbucks Pilot Goes National, Acculynk Goes Mobile, And Mitek Logs Clients
In the largest U.S. chainwide expansion yet seen in mobile payments, Starbucks Coffee Co. announced on Wednesday it is extending its proprietary, prepaid mobile payments pilot to all of its U.S. company-owned stores. The move brings the chain’s Starbucks Card Mobile App to almost 6,800 stores and increases the number …
Read More »An End to the Great Data-Storage Debate
Security An End to the Great Data-Storage DebatePeter Lucas Weaning merchants from their ingrained practice of storing payment card data won’t be easy, but security experts conclude it must be done. Meanwhile, encryption technology, though growing in popularity, is not invulnerable. Having survived database breaches at high-profile retailers and merchant …
Read More »Once ‘Bearish,’ a Payments Researcher Smiles on Mobile Payments
The rapid development of mobile payments in the U.S. is starting to make believers out of skeptics. Boston-based Aite Group LLC, a payments consulting and research firm, had been one of those skeptics, but it released a report on Wednesday predicting U.S. mobile payments of all kinds will total $214 …
Read More »PCI Council Releases ‘Steady as She Goes’ Update of Security Rules
The new version 2.0 of the Payment Card Industry data-security standard (PCI) came out Thursday, an upgrade the PCI Security Standards Council says contains no major changes. Still, a document summarizing all the tweaks to the major card networks' common set of data-protection rules runs 20 pages in length. Among …
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