Wednesday , July 18, 2018

Kevin Woodward

Kevin's role at Digital Transactions is to write news and features stories for publication on the Web site and in the magazine. He also oversees the digital editorial aspect of the site and the Digital Transactions News daily newsletter.

Surcharging Programs May Appeal to Merchants, But ISOs And Acquirers Like Them, Too

Offering a surcharging or cash-discounting program to merchants has obvious revenue benefits to merchants, but they have the potential to grow an independent sales organization’s or acquirer’s bottom line, too. Such programs enable merchants to cover their costs to accept credit card transactions by adding a fee to the purchase …

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Merchants And Issuers Alike Will Need Persuading on the New 3-D Secure 2.0

In the run up to full implementation of 3-D Secure 2.0, a payment standard that aims to curb online fraud and prevent blocking legitimate transactions, merchants and issuers alike will need some convincing the technology will not impede e-commerce and mobile commerce. That’s the word from Tim M. Sherwin, chief …

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With Interac’s Real-Time Network Volume Up 50% in 2016, More Services Are on the Way

Interac, the Canadian debit network, says a record number of payments were made in 2016 using e-Transfer, its money-transfer service. Transactions totaled 158 million, up 50% from the 2015 total of 105 million. The total value of these transactions reached C$63 billion (US$47.3 billion) in 2016 with an average transaction …

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Credit Cards Find Increased Favor for Low-Value Purchases, a Survey Reveals

Electronic-payments industry efforts to promote card use may be paying off. Significantly more consumers are using credit cards for low-value purchases of $5 or less than they did in 2016. A CreditCards.com survey released Monday found that 17% of consumers typically used their credit cards for these in-store transactions compared …

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Small Merchants See Value in Debit Acceptance, Less Concerned About Fees, Survey Says

A survey of 500 small merchants that accept debit cards finds that 66% of them are satisfied with the fees they pay, says the Electronic Payments Coalition, a bank and network advocacy organization. Javelin Strategy & Research completed the survey, which the EPC sponsored. The findings are part of the …

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Ant Financial Issues Letter Citing Commitment to MoneyGram’s U.S. Growth

Yet another development has unfolded in the dueling bids for wire-transfer provider MoneyGram International Inc. As Ant Financial Services Group and Euronet Worldwide Inc. compete to acquire MoneyGram, Ant Financial on Thursday issued an open letter to MoneyGram that addresses Ant’s potential commitments to the money-transfer company. In addition to …

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E-Commerce, Partnerships Rank High on New Elavon CEO’s List of Priorities

Jamie Walker’s growth mission as the newly anointed chief executive at Elavon Inc., the acquiring arm of U.S. Bancorp, is squarely focused on e-commerce and furthering the company’s partnerships. That isn’t to set aside its other distribution channels, such as independent sales organizations or its direct-sales efforts, Walker tells Digital …

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TSYS’s Netspend Unit To Pay $53 Million As Part of FTC Settlement

Netspend, the prepaid card unit of processor Total System Services Inc. (TSYS), will pay $53 million as part of a settlement it reached with the Federal Trade Commission over allegations concerning how it handled some marketing materials. The settlement, announced Friday, calls for Netspend to set aside $40 million to …

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What is the Future of Mobile Wallets? Anticipation and Waiting, Expert Panel Says

As mobile-wallet backers wrestle with the right mix of features and functions—loyalty, offers, and payments—to incentivize consumers and merchants to use their products, they should get accustomed to waiting. That was the word Thursday in Orlando, Fla., from speakers at the 2017 Payments Summit, sponsored by the Secure Technology Alliance. …

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Payments Pros Confront an IoT Challenge: Securing Devices Without Impeding Usage

With a forecast of 15 billion new devices as part of the Internet of Things potentially coming online as payments devices by 2021, securing these devices, whether they are cars, wearables, or appliances, is emerging as a top concern. “We are seeing a huge increase in inadequately protected devices,” Graeme …

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