Sunday , October 22, 2017

Credit Cards

Mastercard Scrubs Its Signature Requirement for POS Transactions

Mastercard Inc. is doing away with a rule requiring merchants to get signatures for transactions made with its credit and debit cards in the United States and Canada. Announced early Thursday, Mastercard’s rule change goes into effect April 13, 2018, allowing issuers, merchants, and processors time to make adjustments, though …

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Visa ID Intelligence Aims To Be A Digital Authentication Hub

Issuers, merchants, and processors all share the same dilemma when attempting to authenticate an online identity. They are bedeviled by personally identifiable information easily accessible to criminals that they can use to spoof authentic consumers. In response, Visa Inc. on Thursday announced the Visa ID Intelligence service, which it says …

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BIM Brings an ACH-Payment Option to Phillips 66, Conoco, and 76 Gas Stations

Consumers using the Phillips 66, Conoco, or 76-branded smart-phone apps soon will be able to pay for fuel using their checking accounts thanks to an integration with Buy It Mobility Networks, a New York City-based payment and customer relationship management platform. Announced Tuesday, the service will be available soon, says …

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Visa Invests in B2B Payments Provider Billtrust

Visa Inc. reported Tuesday that it has invested in Billtrust and is working with the business-to-business payments provider to streamline the reconciliation of B2B payments and increase the automation of virtual card payments for financial institutions and their corporate customers. The companies did not reveal the size of Visa’s investment, …

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Merchants Celebrate the Durbin Amendment’s Sixth Birthday as Payments Group Sneers

The Durbin Amendment’s debit card interchange price cap took effect six years ago this month, prompting a merchant group to celebrate the occasion and claim the measure has saved consumers and merchants $48 billion. But a lobbying group of payment networks and banks derided those savings estimates and once again …

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Smart Checkout Is Advancing, But Getting Rid of the Checkout Will Take a While

Ever since ride-sharing apps like Uber and Lyft came along, processors and merchants have been captivated by the idea of running transactions entirely in the background, without any checkout. That concept will emerge over time, but in different forms and not necessarily with checkout-less experiences, according to research released Tuesday. …

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What Might It Take for the EMV Holdouts To Join the Chip-Card Fold?

The number of U.S. merchants that accept EMV chip cards at the point of sale is increasing rapidly, according to recent figures from Visa Inc.,  but it’s going to take some work by merchant acquirers and payment card networks to convince the holdouts to convert. Executives from two of those …

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EMV at Two: Consumers Still Think Purchases Are Too Slow; Many Merchants Indifferent

EMV chip card payments at the U.S. point of sale have been around, officially at least, for two years now, but consumers still perceive them as slow, and many merchants still don’t accept chip cards, according to a poll of consumers and retailers by merchant processor Cayan. The time to …

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Sonic Drive-In Confirms Payment Breach of an Unknown Number of Cards

Add Sonic Drive-In to the roster of merchants that have experienced a breach of their payments systems. The Oklahoma City-based fast-food chain confirmed to Digital Transaction News that it has been investigating the incident. On Tuesday, security blog KrebsOnSecurity.com reported the breach affecting an unknown number of Sonic’s point-of-sale systems. …

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Fraud-Control Expenses and Chargebacks Consume More of Merchants’ Revenues

Fraud-related expenses for merchants are rising as a percentage of revenues, and merchants now spend 10 times as much preventing fraud as they lose to chargebacks, according to new findings from Javelin Strategy & Research. Pleasanton, Calif.-based Javelin says its June study of 497 e-commerce merchants found that merchants in …

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