Friday , March 29, 2024

Jim Daly

Jim Daly joined Digital Transactions in 2006 after covering payments and merchant acquiring at Thomson Media’s Credit Card Management, Credit Card News, and CardLine publications. Before that, he was a reporter and editor at the daily Leader-Telegram in Eau Claire, Wis.

The U.S. ATM at Age 50 Puts the Spotlight on the Future Role of Cash

The ATM made its U.S. debut 50 years ago, and a half-century later the future of cash and cash-dependent industries like ATMs is the subject of intense debate in industry forums and at city halls and state capitols. Chemical Bank, now part of JPMorgan Chase & Co., installed the first …

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Stricter Visa Rules for Trial Offers and Promotions To Take Effect Next Year

The card networks’ crackdown on negative-option billing and subscriptions with free trials is continuing, with stricter policies from Visa Inc. set to take effect April 18. The updated Visa rules will follow by a year tightened rules from Mastercard Inc. on negative-option billers. These are billers who, after getting a consumer …

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Eye on Digital Commerce: Google Wallet Beyond Payments; W3C’s Payment Form Goes Live

Alphabet Inc.’s Google subsidiary is adding more services to its Google Wallet for Android mobile devices, and Google’s Chrome Web browser now supports a common e-commerce payment form for merchants that is expected to be integrated into the other major browsers too. United Airlines Inc. in May became the first …

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TCH Forges on with Its Real-Time Payments Network as the Fed Crafts a Rival Service

The private-sector operator of the only national real-time payments network wasn’t too enthused when the Federal Reserve announced earlier this month that it would launch a rival service in 2023 or 2024, but the Fed’s move sparked at least a temporary windfall for The Clearing House Payments Co. “One of …

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Why Mobile Payments Don’t Deliver for Merchants

Mobile payments so far account for a mere 2% or less of U.S. general-purpose card payments, according to some estimates, and that’s no surprise to some executives who believe mobile payments haven’t delivered for many merchants. “I don’t think anyone in the market is solving problems for the retailers,” Laura …

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Instant Payments Give Citigroup’s CitiConnect APIs a Lift

Launched in November 2016, the CitiConnect set of application programming interfaces for payments and related functions is gaining traction, particularly from companies supporting instant-payment services in Asia and Europe, Citigroup Inc. reported Monday. The New York City-based global banking giant said CitiConnect has processed 157 million API calls, or requests …

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Eye on Cryptocurrency: Libra Backers Getting Cold Feet? Settlement in Alleged Crypto Pyramid Scheme

Several backers of Facebook Inc.’s proposed Libra cryptocurrency are having second thoughts because of regulatory pushback, according to a British newspaper report. Meanwhile, the Federal Trade Commission announced settlements Thursday with four defendants accused of falsely promising big returns to consumers who paid in cryptocurrencies to participate in an alleged …

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Chase To Discontinue Chase Pay Mobile App Early Next Year; Online and In-App Functions To Remain

Banking giant JPMorgan Chase & Co. will pull the plug on its Chase Pay mobile app in early 2020, though the payment service will continue online and in some merchant apps. Chase disclosed the coming changes in an email notice to customers Wednesday. The notice gives no reason or exact …

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Square Expands Its Software Platform Beyond Payments With a New Ordering System

Less than a month after getting into the product-photography business, Square Inc. on Thursday said it was opening its software platform beyond payments so that outside developers can create systems for merchants to handle orders. In a post on its developer blog, San Francisco-based Square noted that over the past …

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EMVCo Proposes Spec Changes To Accommodate Longer Issuer IDs

Payment card standards body EMVCo on Thursday disclosed proposed specifications changes to accommodate the coming of longer issuer identification numbers on credit and debit cards, changes that could affect merchants using card numbers to identify their loyalty program members in addition to processing protocols. The changes stem from a revised …

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