Saturday , January 19, 2019

Credit Cards

Century Business Solutions Debuts Agent Program and other Digital Transactions News briefs from 7/5/18

In a finding that resolves differing decisions by lower courts, the United Kingdom Court of Appeal ruled in favor of retailers challenging interchange fees set by Visa Inc. and Mastercard Inc. as anti-competitive, Bloomberg reported. The case, however, now goes to a tribunal that reviews business-competition disputes. Payments provider Century Business …

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Many Merchants Still Lag in Meeting a Critical PCI Data-Protection Requirement

Now that the PCI Security Standards Council’s July 1 deadline has passed for implementing newer versions of Transport Layer Security technology to protect payment data, some experts believe nearly a third of small brick-and-mortar and e-commerce merchants don’t meet the new requirements. As a result, expect merchant acquirers, processors, and …

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COMMENTARY: Consumers Want Less Friction AND More Security. Can You Do That?

The new era of data breaches and privacy failures has had far-reaching effects. Personal information is packaged, sold, and distributed on the dark Web, leaving consumers feeling uneasy. Americans want to be protected, but also want convenience, and are holding businesses to high standards, even higher than what they hold …

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PayPal Completes Synchrony Deal and other Digital Transactions News briefs from 7/3/18

Token, a provider of contactless payment terminals tailored for events, launched its Mini-Serve EFTPOS system, which allows attendees at events or venues to top up their wristbands or badges with payment cards or mobile wallets. In an expansion of a relationship that dates back to 2004, PayPal Holdings Inc. has …

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Ethiopian Airlines Adopts a Platform From Carrier-Payment Specialist Cellpoint Mobile

Ethiopian Airlines, which flew more than 8.7 million passengers in 2017, will use the Cellpoint Mobile payment platform across its domestic and international operations for tickets and related transactions, Miami-based Cellpoint Mobile announced Sunday. In addition to common payment acceptance, the deal also will enable Ethiopian Airlines, which flies 100 …

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Despite Growth in Mobile and Online Payments, Longstanding Payment Patterns Persist

The latest findings from a long-running survey of consumers’ payment choices show that new technology is driving a growing number of transactions, but overall usage patterns for credit cards, debit cards, and cash remain stable. The simultaneously released 2016 and 2017 Surveys of Consumer Payment Choice from the Federal Reserve …

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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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Equifax Agrees to Operational Changes in Its Data-Breach Agreement With Eight States

Equifax Inc. disclosed Wednesday that it has entered into a consent order with eight states that requires it to improve its data-protection practices in the wake of the huge data breach last year at the national credit-reporting agency. The breach compromised personal data on approximately 148 million consumers, including Social …

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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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