Thursday , April 19, 2018

E-Commerce

Nearly 60% of U.S. Storefronts Are Now Accepting Chip Cards, a Visa Update Shows

Some 2.7 million merchant locations, or 59% of U.S. storefronts, were accepting EMV chip cards as of December, according to the latest update from Visa Inc., issued Friday. That’s up from 392,000 locations in September 2015, just before the major card networks began enforcing a mandate for chip card acceptance. …

Read More »

With Unified Token Management, Visa Seeks To Enable Omnichannel Commerce for Merchants of All Sizes

Visa Inc. launched Token Management Service, a service it says will make it easier for users to manage tokenized payment card data from multiple sources and across multiple channels, the card network announced Thursday. Designed to complement the Visa Token Service, the new program provides a way for merchants to use …

Read More »

Eye on Security: 124 Breaches Already Reported in 2018; Cost of Malicious Cyber Activity May Exceed $100 Billion

Some 124 new data breaches have become known this year as of Feb. 16, the Identity Theft Resource Center reports. And the White House’s Council of Economic Advisors issued a study last week pegging the cost of malicious cyber activity to the economy in 2016 at $57 billion on the …

Read More »

Google Formally Unveils Its Work-in-Progress Google Pay, the Successor to Android Pay

After announcing a coming rebranding for its Android Pay mobile and online payment service in January, Alphabet Inc.’s Google subsidiary on Tuesday formally unveiled the new Google Pay. But the rebranding, centered on a new mobile app for Android devices, is a work in progress, with more changes and new …

Read More »

Bombshell Mueller Indictment Details How Stolen Identity Information Fueled Fraudulent PayPal Accounts

Stolen identity information obtained by several Russian defendants named in Special Counsel Robert S. Mueller’s indictment, released last week, was used to create fraudulent PayPal Holdings Inc. accounts. The defendants were named in connection with alleged activities surrounding the 2016 presidential election. The indictment provides details about an alleged conspiracy …

Read More »

Consumers Increasingly Prefer To Use Debit Cards Instead of Credit Cards, Researcher Shows

Some 61% of consumers surveyed in the fourth quarter by New York City-based Auriemma Consulting Group cited a debit card as their most frequently used card, up from 52% a year earlier. Only 24% named a credit card, down from 35% at the end of 2016. “Based on our consumer …

Read More »

Eye on Acquiring: Shopify’s Volume Booms; North American Revenues Grow for Global Payments

More sales on its commerce platform and more payment-processing business from its merchants translated into a 71% revenue increase for Shopify Inc. in the fourth quarter. And the big merchant acquirer Global Payments Inc. reported Thursday that its North American revenues grew 9% in the quarter. Ottawa, Ontario-based Shopify, which …

Read More »

Currencycloud Eyes U.S. Expansion in Bid for More International Payments Volume

Currencycloud, an international payments platform based in the United Kingdom, has hired a U.S. general manager in a push to capture more cross-border payments volume from U.S. merchants. Currencycloud announced Richard Arundel as the general manager of Currencycloud North America. Arundel, a co-founder of Currencycloud, spent the past two years …

Read More »

Payfone Continues To Attract Investment From Payments Companies, This Time Synchrony Financial

Mobile-authentication technology provider Payfone Inc. has raised another $23 million in a new funding round that included retail card payment services provider Synchrony Financial. The exact investment from Synchrony Ventures, Synchrony Financial’s venture-capital arm, wasn’t disclosed in Tuesday’s announcement. An undisclosed institutional investor led the funding round. In addition to …

Read More »

A Startup Enlists E-ZPass for Car-Based Payments Away From Toll Booths

A Boston-based startup on Tuesday announced a service that lets holders of E-ZPass transponders pay for such things as car washes, gasoline, and drive-through items from their cars. Under an agreement with the E-ZPass Group, Verdeva Inc.’s PayByCar service will start a pilot program that lets users create an account …

Read More »