Friday , January 19, 2018

Debit Cards

Wal-Mart And Visa Settle Lawsuits Over Debit Routing and Credit Card Interchange

Wal-Mart Stores Inc. confirmed Friday that it will settle its lawsuit against Visa Inc. over EMV debit card transaction routing. That news comes one day after the two leaders in their respective industries settled lawsuits they filed against each other stemming from the massive and still-ongoing credit card interchange litigation …

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COMMENTARY: How To Avoid a Hidden Retail Security Threat

In 2015, 70% of breaches reported by global retailers were directed at POS devices. With the quantity of exploits only increasing, retail CIOs cannot rely on industry minimum guidelines to set out their security strategy. While the Payment Card Industry data-security standard (PCI DSS) provides a strong baseline of security …

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Cardtronics Shows Resiliency Despite ‘an Incredible Streak of Bad Luck’

A strong third-quarter earnings report helped lift shares of ATM network owner and operator Cardtronics plc by 4% Friday morning after they plunged 17% Thursday on news that Link, the ATM network in the United Kingdom—a key market for Cardtronics—floated a proposal to reduce interchange by 20%. Cardtronics, which has …

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With New Anti-Fraud Systems in Place, WEX Says Skimming Losses Are Trending Down

After suffering a spike in fraud from skimmers on gas pumps earlier this year, fleet-fueling payment specialist WEX Inc. reported Wednesday that fraud losses are falling thanks to its new risk-control systems. “The steps we have taken to reduce losses fraud have started to pay off,” Roberto Simon, chief financial …

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VocaLink, PayPal, And P2P Will Help Propel Mastercard, the Network’s Boss Says

Mastercard Inc. enjoyed a strong third quarter, and Tuesday morning its top executive was not shy about celebrating some of the trends that he expects will further lift results for the world’s second-largest payment card network. These include recent acquisitions, a global partnership with PayPal Holdings Inc., and budding developments …

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Western Union and Mastercard Bring a New Twist to Money Transfers

The Western Union Co. this week positioned itself to fend off competition from peer-to-peer payment services by partnering with Mastercard Inc. to integrate Mastercard Send into its money-transfer service. The service, which is expected to be available in only the United States starting in early 2018, will allow consumers to …

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New York City’s Transit Agency Dives Into Contactless Payment Technology

Contactless payments got a big boost Wednesday when the New York City area’s Metropolitan Transportation Authority approved a $539.5 million contract with San Diego-based Cubic Transportation Systems to install a near-field communication-based payment system across all MTA transit and commuter-rail systems that includes open-loop payments. The deal means MTA riders …

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Small Merchants Boost Vantiv as the Processor’s Merger With Worldpay Draws Closer

As its merger with London-based merchant acquirer Worldpay Group plc gets closer, payment processor Vantiv Inc. reported Thursday that it saw strong growth in its merchant-acquiring segment in the third quarter, especially from small and mid-sized merchants. Symmes Township, Ohio-based Vantiv said net third-quarter revenues in its Merchant Services   segment …

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PCI Council Leadership Shifts Gears, and the Organization Adds 3-D Secure Standards

The PCI Security Standards Council is without a general manager as the organization that establishes electronic-payments security standards prepares to go in a new direction with its leadership. Out is Stephen W. Orfei, who joined the council in 2014 as general manager and replaced Bob Russo, the council’s original G.M. …

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Visa Kicks Out Handsome Profits, but CEO Kelly Admits To Being ‘a Bit Paranoid’

The Visa Inc. transaction machine continued to spit out profits in the payment network’s final quarter of fiscal 2017, but chief executive Alfred F. Kelly doesn’t want anyone to think he ignores competitive threats such as the rise of China’s Alipay or real-time payment services from other companies. “I think …

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