Monday , July 16, 2018

Debit Cards

Debit Card Issuers Struggle With Higher Fraud on Both Signature and PIN Transactions

By Jim Daly@DTPaymentNews Partly because of a big increase in skimming, debit card fraud rates jumped in 2015 on both signature and PIN-based point-of-sale transactions, according to the 2016 Debit Issuer Study commissioned by Discover Financial Services’ Pulse electronic funds transfer network. The overall fraud-loss rate on PIN POS transactions …

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Eye on Earnings: Visa Europe Acquisition Crimps Visa Inc.’s Profit; PayPal Volumes Grow

Visa Inc.’s combined U.S. credit and debit card purchase volume grew nearly 10% in the quarter ending June 30, but the payment network’s net income plunged 76% mainly because of its costs to acquire Visa Europe. PayPal Holdings Inc., meanwhile, saw its volumes and bottom line increase in the second …

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Eye on Debit: Pulse’s Volume Plunge Expected To Hit Bottom; EMV Still Crimping Blackhawk

Dollar volume on Discover Financial Services’ Pulse electronic funds transfer network declined 9% in the second quarter, but that was an improvement from the first quarter’s 15% plunge and the bottom is in sight, Discover said on Tuesday. Meanwhile, the impact of grocery stores’ reluctance to accept credit cards for …

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Though Consumers Foresee a Cashless Society, Experts Say Don’t Hold Your Breath

A majority of Americans—62%—believe credit and debit cards and other electronic payments will replace cash in their lifetimes, finds a recent Gallup Inc. poll. But that doesn’t mean cash will disappear any time soon, experts say. Of the more than 1,000 consumers surveyed, only 11% said it is very unlikely and …

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FIS Cardless Cash Service Coming to 70,000 Payment Alliance International ATMs

Look for cardless cash access at more ATMs in coming months. Fidelity National Information Services Inc. (FIS) and Payment Alliance International Inc. plan to bring the FIS Cardless Cash service to more than 70,000 PAI ATMs. The deal, announced Friday, will significantly expand the number of participating machines from the …

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NRF: Consumers Support Debit Card Interchange Cap

How do consumers feel about payment card acceptance costs, often referred to as “swipe fees”? According to a recent National Retail Federation survey, consumers want the existing debit card interchange price cap to continue, and they want credit card pricing to benefit them and merchants as opposed to “credit card …

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Durbin Spars With Visa And MasterCard

Depending on your point of view, Sen. Richard Durbin, D-Ill., became either a hero or a villain in the payments business back in 2010 with his Durbin Amendment to the Dodd-Frank Act. Among other things, the amendment capped debit card interchange for large issuers, pleasing merchants and ruffling the feathers …

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Visa’s Counterclaim in Debit Dispute Accuses Wal-Mart of Contract Fraud

Visa Inc. on Wednesday filed a counterclaim against Wal-Mart Stores Inc. alleging that the retailer’s May lawsuit against the network is not an issue involving violations of federal regulations regarding debit cards, as Wal-Mart cast it, but a contract dispute. Visa says Wal-Mart “fraudulently induced” it to sign an acceptance …

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After Deciding “To Capitulate” to Visa, Kroger Sues the Network Over EMV Transaction Routing

The Kroger Co. on Monday sued Visa Inc. over the network’s alleged efforts to force the nation’s leading grocery-store chain to route EMV chip debit card transactions over Visa’s network by having customers sign for purchases rather than enter PINs. Kroger, the largest retailer after Wal-Mart Stores Inc., according to …

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