Monday , March 25, 2019

CardinalCommerce Notes 3-D Secure 2.1 Milestone and other Digital Transactions News briefs from 10/19/18

  • E-commerce payments provider CardinalCommerce said it completed its first series of 3-D Secure 2.1 transactions with American Express Co., Mastercard Inc., and Visa Inc. The transactions, which were not part of a test, were part of an early-adopter program in which merchants and issuers enabled EMV 3-D Secure 2.1 via CardinalCommerce, a unit of Visa.
  • Payment card standards body EMVCo issued a draft version of its Secure Remote Commerce specification, often called the common buy button for e-commerce purchases to be used by multiple payment networks. EMVCo said it issued the draft to get as much input as possible from merchants, card issuers, and networks. EMVCo will take comments on SRC version 0.9 until Dec. 3. Sometime after that EMVCo is expected to issue a live version. EMVCo member Discover Financial Services issued a statement supporting release of the draft, saying “there are still open questions about the EMV SRC framework and specifications, and we encourage stakeholders to provide feedback.”
  • Square Inc. added the Square Terminal to its point-of-sale equipment roster. Priced at $399—new-to-Square merchants pay $99 after a $300 processing credit—the device sits in the middle of Square’s lineup, above the small card readers, but below products positioned as POS system equivalents. The WiFi or Ethernet connected Square Terminal accepts EMV, contactless, and magnetic-stripe payments. Pricing per transaction is 2.6% plus 10 cents with this device.
  • Euronet Worldwide Inc., owner of Ria and other money-transfer brands, said it processed 27.8 million money-transfer transactions in the third quarter, up 16% year-over-year.
  • Mastercard Inc. said it is working with Gemalto, Giesecke+Devrient, and Idemia (formerly OT-Morpho) to develop a “Green Payments Partnership” that will include ways to reduce first-use PVC in card manufacturing.
  • The ParkWhiz mobile-parking app added a new feature called Arrive Network, which allows drivers to park in lots and garages without taking a ticket or reserving a spot in advance.
  • The average annual percentage rate on store-issued credit cards is nearly 25%, and half of Americans who have taken out a store card say they regret it, according to a survey by the CompareCards unit of the online financial-services marketplace LendingTree.
  • The Shangai-based payment card network UnionPay International said the number of its cards issued outside of the Chinese mainland now exceeds 100 million.
  • Former Tesla executive Denise Leleux has joined payments-technology company AvidXchange as senior vice president for supplier services.

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