Digital Transactions Authoritative, insightful and timely information for payments professionals
We’ll never get there so long as we rely on traditional tools. Since criminal tactics are constantly evolving, solutions must be adaptable, as well. The economy relies on secure and safe transactions. Maintaining a stable and efficient business depends on effective security. In particular, eliminating fraud is fundamental to the …
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Holiday Mobile Payments Predicted To Grow 47%, With All E-Commerce Up 14%
Powered by growth in mobile payments, so-called digital commerce for 2015’s holiday season will grow 14.3% to $70.1 billion from last season’s $61.3 billion, Internet metrics firm comScore Inc. predicted Wednesday. Reston, Va.-based comScore defines digital commerce to include desktop e-commerce and mobile commerce. The firm predicts desktop e-commerce for …
Read More »Mum About the Details, MCX’s Mooney Hints at ‘Plans on the Table’ Beyond Chase Deal
By John Stewart Last month, the spotlight shone on Merchant Customer Exchange LLC when JPMorgan Chase & Co. officially unveiled its Chase Pay wallet, set to launch next year, and said it will be included in MCX’s merchant-controlled CurrentC application. But, as big as that deal is for MCX, the …
Read More »Flawed Policies Weaken Passwords, Though Online Retailers Are Doing Better
With nearly half of all holiday shopping expected to be conducted online, attention is turning to the first line of defense against fraud: the humble password. As it turns out, this bulwark isn’t nearly as strong as it could be, according to a study released Tuesday by Dashlane Inc., a …
Read More »Why a Regional Bank Is Going With Chip-And-PIN for Its EMV Credit Cards
By Jim Daly They’re few and far between, but another U.S. issuer, regional banking company First Niagara Financial Group Inc., has committed itself to issuing EMV credit cards of the chip-and-PIN variety. Buffalo, N.Y.-based First Niagara announced just before the U.S. EMV liability shift took effect that it will convert …
Read More »To Trap a Thief
An old Paul Newman movie features a government official leaving his office for a moment. His visitor finds on his cluttered desk some confidential information, intended for her eyes. The official has arranged it so he cannot be convicted of handing over any secrets, even though he has. In today’s …
Read More »Most Smart Phones Expected To Be NFC and Mobile Wallet Enabled by 2015, Says Softcard Executive
By the end of 2015, most smart phones sold in the United States will have near-field communication (NFC) capability and be mobile-wallet ready, potentially creating a confluence of payments and commerce, says Matt de Ganon, senior vice president of product at mobile wallet provider Softcard. That prospect excites de …
Read More »Mitek Fires Back at USAA In a Spat Between Two Remote Deposit Capture Heavyweights
Leading mobile remote deposit capture vendor Mitek Systems Inc. says it has the documentation to disprove allegations of patent-infringement and other claims that USAA, the pioneering financial institution in remote deposit capture, filed against it in a lawsuit last week. The force behind the dispute, according to Mitek president and …
Read More »Trends & Tactics
PayPal (Sort of) Embraces NFC … With rivals like Google Inc., Visa Inc., and MasterCard Inc. having jumped into near-field communication technology, there has been no little speculation in the payments business about when, or whether, PayPal Inc. would take the plunge. Wonder no more. The eBay …
Read More »Awareness of PCI Remains “Shockingly Low” Among Small Merchants, Study Finds
Small merchants are not much more aware of—let alone compliant with—the Payment Card Industry data-security standard (PCI) than they were a year ago, according to a study released this week. Some 53% of small merchants are now at least aware of PCI, a small increase from the 47% a similar …
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