Monday , October 22, 2018

Acquiring

COMMENTARY: Consumers Deserve Better Retail Protections

The cybersecurity firm Gemini Advisory recently announced a large-scale data breach at Saks Fifth Avenue and its sister company Lord & Taylor, compromising 5 million credit cards. While the forensic investigation is still under way, it appears that the breach was likely caused by malware on the parent company’s point-of-sale …

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NCR Opts for Bluefin Tech and other Digital Transactions News briefs from 6/29/18

Payments-technology provider Bluefin Payment Systems said NCR Corp. is using Bluefin’s point-to-point encryption service at merchants deploying NCR’s Counterpoint Retail Solution to process payments through NCR Secure Pay. Payments provider Merchant Consulting Group, which was founded in 2005, changed its name to Paystri. Credit-union processor PSCU said its new Lumin …

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Big Credit Card Interchange Case Could Be Nearing a Settlement

A massive, 13-year-old legal case pitting merchants against the bank card networks and big issuers over credit card interchange could be nearing a settlement, according to regulatory filings and press reports. Mastercard disclosed in a Securities and Exchange Commission filing Thursday that negotiations among the parties are moving along and …

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A Low-Friction Online Payment Button Debuts To Aid Nonprofits And Journalism Sites

LaterPay Inc. released its LaterPay button as a tool to decrease payment friction, especially for nonprofit organizations and journalism sites, the company announced Thursday. Munich-based LaterPay, which has a U.S. office in New York City, says the button is designed to be a low-friction way to enable consumers to make …

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NCR Integrates Fraud Prevention Service and other Digital Transactions News briefs from 6/28/18

ATM manufacturer NCR Corp. said it integrated AFS TrueChecks, a service from Advanced Fraud Solutions for preventing check fraud, into its platform for interactive teller machines. Shift4 Payments announced an integration with Megasys Hospitality Solutions, developer of the Portfolio HMS software application for lodging businesses. AvidXchange, a startup providing payment-automation …

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Account Takeovers And Digital-Goods Fraud Attacks Show No Signs of Abating

Merchants selling digital goods were dealt a heavy blow last year as the fraud rate for the category soared 167%, finds the Fraud Attack Index from online-fraud prevention specialist Forter and the Merchant Risk Council, a merchant group that addresses fraud prevention. Released Tuesday, the index also found that account …

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TrustCommerce Announces an Integration and other Digital Transactions News briefs from 6/27/18

Captiva MVP Restaurant Partners LLC, operator of the PDQ fast-casual chain, reported that a hacker accessed its computer system through a technology vendor’s “remote connection tool” and may have compromised an undisclosed quantity of payment card numbers, cardholder names, expiration dates, and verification values. The breach, which affected all but three …

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The Supreme Court’s Controversial Balancing Act in the AmEx Anti-Steering Case

With its Monday decision upholding American Express Co.’s anti-steering rules, the U.S. Supreme Court unleashed a tide of press speculation about just how payment card pricing, rewards, and network rules will be affected. At this point, however, only a few things are clear. The first is that AmEx chief executive …

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Incomm Partners with CheckFreePay and other Digital Transactions News briefs from 6/26/18

Bill.com announced that, at more than $52 billion, it has surpassed the $50-billion mark in bill payments processed annually for more than 3 million small-business clients. Prepaid specialist Incomm announced it is working with CheckFreePay Corp., a unit of Fiserv Inc., on a cash-based bill-payment service in store checkout lanes. …

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A Divided Supreme Court Upholds AmEx’s Anti-Steering Rules

In a 5-4 decision, the U.S. Supreme Court ruled Monday that American Express Co.’s anti-steering rules for merchants do not violate federal antitrust law. The conservative majority’s decision, written by Justice Clarence Thomas, caps a case that dates back to 2010 and involves merchants who wanted to steer merchants to …

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