Friday , February 22, 2019

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.

EMV Chargebacks Proving To Be a Card-Present Merchant Problem

  Hiccups in the U.S. payment card industry’s monumental shift to EMV chip card technology are beginning to surface, and one problematic area is chargebacks among card-present merchants. That’s the observation from one large merchant-services provider, and it’s corroborated by a recent report from First Annapolis Consulting Inc. containing similar …

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By 2020, 45% of Wearables Owners Will Use Them for Payments, Mostly Open-Loop

Payment with a wearable device, such as a smart watch, wristband, or fitness monitor, has the potential to be used by 45% of wearables-owning consumers by 2020, finds the IHS “Wearable Payment Devices Report—2016” issued Wednesday. In four years, the global market for wearables will reach 340 million devices shipped, …

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Cash Remains Favored Person-to-Person Payment Option Even Among Millennials

Cash, it seems, remains king, especially among younger consumers who want to use person-to-person payments. Of the 1,000 18-to-34-year-old U.S. consumers surveyed, 58% prefer cash for their P2P payments, says GoBankingRates.com, a financial-services site that conducted the online survey in January. The popularity of cash, even among Millennials, for P2P …

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Citi’s Deal To Buy the AmEx Costco Portfolio Moves a Step Closer

The cessation of the cobranded Costco Wholesale Corp. credit card issued by American Express Co. moved another step closer with Monday’s announcement that Citigroup will buy the AmEx Costco portfolio for an unspecified sum. Citi’s acquisition of the portfolio is expected to close this summer. That’s when Citi will begin to …

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Sky’s the Limit for Amazon Payments As It Handles Onboard Purchases for Southwest

Many consumers will find it easier to make onboard entertainment purchases when flying on Southwest Airlines Inc. now that the airline is accepting Pay with Amazon. Announced Wednesday, the service enables Southwest passengers who have stored payment data in their Amazon.com Inc. accounts to pay with those credentials. To pay for …

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Pin4 Extends Cardless ATM Withdrawals to Non-Bank ATM Operators

HalCash North America is making its cardless-cash ATM service available in four U.S. cities prior to eventual national expansion later this year. Under the Pin4 moniker, the HalCash North America service enables consumers to securely send cash that recipients can retrieve at participating ATMs without having to insert a card …

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Competition And Pricing Could Have Been Culprits in Flint Mobile’s Apparent Demise

Flint Mobile Inc., a startup whose app allowed merchants to process transactions by using their smart-phone camera to scan customers’ card numbers, abruptly ceased operations earlier this month and has arranged for merchants to switch over to Stripe for processing. That’s according to MerchantMaverick.com, a merchant-processing review site Flint, which …

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MasterCard Adding Location Tech As Part of Trend Toward User-Based Card Controls

With an eye to giving credit and debit card holders a measure of greater control, MasterCard Inc. unveiled a new alert feature that provides issuers with verifiable data about a cardholder’s location. That can help prevent authorization refusals, for example, when the cardholder travels. Available now in the United Kingdom, and …

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M-Commerce Logged a Banner Fourth Quarter, With Smart Phones Outpacing Tablets

U.S. consumers apparently held onto and used their smart phones and tablets even more than one might suspect given the increase in mobile-commerce transactions during the fourth quarter of 2015, reports Criteo, a New York City-based online marketing specialist. In its “State of Mobile Commerce Report,” released Wednesday, Criteo said …

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Eye on EMV: Merchant Adoption Shortfall; Visa Chip Card Tally Tops 212 Million

Patience, it seems, will be the watchword when it comes to merchant adoption of EMV chip card technology, while the number of cards issued bearing a chip continues to grow. A new report from The Strawhecker Group, a payments consultancy, finds that 37% of U.S. merchant locations are EMV-ready, falling …

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