Friday , October 19, 2018

Credit Cards

Time to Change the Weird Logic Behind Data Breaches

Data Insecurity (Editor's Note: This is the first of a 10-part series by noted electronic-payments-industry analyst Steve Mott on the current crisis in transaction security?its causes, its costs, and its possible solutions?ranging from the point of sale to the Internet to mobile commerce. After eight weekly articles, the series moves …

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Amazon Officially Joins Online Payments Fray with ‘Flexible Payments’

With its official unveiling on Friday of an early version of an online payments system, e-commerce giant Amazon.com Inc. has launched itself into head-on competition with established players like PayPal Inc. and well-funded upstarts like Google Checkout. The service, called Amazon Flexible Payments, is in a so-called beta stage with …

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Visa Reports Progress on PCI Among Large and Small Merchants

Signaling further progress among merchants toward compliance with a key data-protection mandate, Visa USA announced this week that 40% of the largest merchants accepting its cards now comply with the Payment Card Industry data-security standard (PCI). Further, some 96% of these merchants have certified they are not storing account data, …

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A Startup Prepares a Dual POS/Online Contactless Card

Spotting an opportunity in combining online authentication with contactless technology, a 6-month-old Knoxville, Tenn.-based company plans to have a product on the market by early next year that consumers could use to make payments both on e-commerce sites and at the point of sale. Elemental Knowledge LLC is starting with …

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Early Signs Are Positive for Amtrak’s Wireless POS Devices

Wireless card-payment devices deployed systemwide this spring by Amtrak to sell food and beverage items are making a favorable impression on passengers and boosting sales while cutting chargebacks, an executive with the national railroad says. Amtrak is now planning to start using wireless terminals to sell tickets on trains, adds …

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A House Antitrust Panel Becomes the Latest Interchange Battlefield

The Capitol Hill spotlight shone again on payment card acceptance costs Thursday when a U.S. House of Representatives antitrust panel held a hearing to investigate interchange. At issue is the question whether the federal government should play any role regarding this most controversial aspect of card pricing. Bank interests are …

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As Fishy Orders Rise, Startup Plans Product to Manage Online Fraud

A startup company managed by former executives from online travel agency Orbitz LLC plans to release in the fourth quarter a software product that will let online merchants manage the gamut of transaction fraud issues, from front-end screening to automated order review to chargeback processing and, eventually, back-end collections and …

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Visa Starts to Put Small Merchants Under Its PCI Microscope

More large merchants now meet the dictates of the Payment Card Industry data-security standard, or PCI, according to new numbers from Visa U.S.A. At the same time, Visa, the biggest payment-card network, is turning its security attention to small merchants, the source of the majority of data breaches. Visa and …

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Card-Based Bill Payments Take Another Step with Billeo Product

Billeo Inc., whose software streamlines online bill payment for consumers, this week announced new product enhancements that the Santa Clara, Calif.-based company hopes will allow banks to earn more bill-payment revenue. It also extends the company's reach into online shopping with a new software component that automatically fills out online …

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Hypercom’s CEO Steps Down Amid Restructuring Moves

It's the summer of change in the executive suites of some major payment-industry companies. Two days after No. 1 processor First Data Corp. named a new chief executive, struggling payment-terminal manufacturer Hypercom Corp. announced that William Keiper, its chief executive for not quite two years, would leave his post Aug …

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