Wednesday , February 20, 2019

Credit Cards

NAB Integrates With Vend and other Digital Transactions News briefs from 2/20/19

Payments provider North American Bancard Holdings LLC said it is integrating its capabilities with retail-management and point-of-sale software provider Vend. The joint service will be available to retailers through NAB’s resellers. Digital Debit Group, a unit of Qondado LLC, released a Quick Response code-based app for iOS and Android devices …

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Apple Pay Adoption Reaches 43% of iPhone Users, Up From 36% Just Five Months Ago

Apple Pay adoption show no signs of abating, with an estimated 43% of iPhone users across the globe enabling the mobile-payments service, says Loup Ventures LLC in a research note released Tuesday. That’s up from 36% in September and 20% in December 2017. Other estimates from the Minneapolis-based venture-capital firm …

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ATM Deployer Paramount Makes Acquisition and other Digital Transactions News briefs from 2/19/19

ATM and payment-services provider Paramount Management Group LLC acquired CAI—The ATM Company, an independent deployer with thousands of ATMs in New Jersey, New York, Connecticut and other states. Terms of the acquisition were not disclosed. A partnership between Transaction Network Services and P97 Networks has processed in-dash fuel payments for …

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A Coming Boom in Voice Commerce? and other Digital Transactions News briefs from 2/18/19

Voice commerce accounted for only 1% of U.S. online purchases last year, but is projected to grow to 5% by 2023, research firm Euromonitor International said. Research and consulting firm Mercator Advisory Group released the “Securing E-Commerce: Competing Technology Crowds the Market” report that examines e-commerce fraud and measures and …

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COMMENTARY: Tired of Payments Fraud? Maybe It’s Time to Give Blockchain a Try

On the heels of a robust holiday shopping season come some sobering statistics. The recently released 2018 “True Cost of Fraud” study by LexisNexis Risk Solutions shows a 35% increase in fraud for midsize to large e-retailers over 2017. In the retail sector, the monthly average of fraudulent transactions jumped to 306 from …

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Chase’s New Token Is Strictly Intrabank, And Won’t Be Coming to Consumers Any Time Soon

For years, banking and payments veterans have dismissed cryptocurrencies like Bitcoin but at the same time have shown interest in the digital currencies’ underlying technology, the blockchain. Now one of the world’s biggest banking titans is testing its own blockchain-based token, but its restriction of the system to its own …

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Do Cashless-Payment Policies Create a ‘Segregated Purchasing System’?

New Jersey’s legislature this month passed a bill requiring merchants to accept cash at the point of sale, and several big cities, including New York, are considering similar measures. But does cash really need legal protection from payment cards and mobile wallets? That’s the question public officials as well as …

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Wendy’s Announces $50 Million Data Breach Settlement and other Digital Transactions News briefs from 2/15/19

Hamburger chain The Wendy’s Co. announced a $50 million settlement of class-action lawsuits filed against it after a data breach that began in 2015. The 7,500 bank and credit-union plaintiffs alleged the breach was caused by malware that affected point-of-sale systems at more than 1,000 franchised Wendy’s locations. Some 18 …

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Supermarket Kingpin Kroger Debuts Kroger Pay And a Rewards Debit Card

Cincinnati-based grocery giant The Kroger Co. has launched a proprietary mobile-payments service, Kroger Pay, and an accompanying Kroger Rewards debit card. Kroger Pay, available for iOS and Android mobile devices, is a quick-response code-based mobile-payment service, which also includes digital coupons and personalized offers. Kroger Pay, like some other retailer-backed mobile-payments services, …

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The U.S. EMV-Accepting Merchant Base Grew by 400,000 Locations in 2018

The number of U.S. merchant locations accepting EMV chip cards grew nearly 15% in 2018 while EMV payment transactions rose 27%, according to new data from Visa Inc.  In its latest report on the conversion of U.S. general-purpose payment cards from magnetic stripes to EMV chips, Visa says 3.1 million …

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