Saturday , January 18, 2020

Issuing/Originating

2019 Holiday Sales Increased 4.1% and other Digital Transactions News briefs from 1/17/20

The National Retail Federation reported 2019’s holiday retail sales grew 4.1% over the same period in 2018 to $730.2 billion. Online and other non-store sales rose 14.6% to $167.8 billion and are included in the totalE-commerce services and payments provider Shopify Inc. is offering new businesses what it calls “starter loans” of $200 through …

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New U.S.-China Trade Deal Provides for U.S. Payments Expansion in China

The newly-signed trade agreement between the United States and China, the number-one and number-two global economies, respectively, finally provides an avenue for U.S. payments firms to operate independently in China. Joint payments ventures with a local Chinese partner have long been the norm, but the new U.S.-China trade agreement—signed Jan. …

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‘Digital Dollar’ In the Works and other Digital Transactions News briefs from 1/16/20

J. Christopher Giancarlo, former chair of the Commodity Futures Trading Commission, is working with other individuals and with the consulting firm Accenture to develop a United States Central Bank Digital Currency, known as the “digital dollar.” The development will take place under the auspices of a new organization called the Digital …

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How Visa’s Post-Card Payments Ambitions Led It to a $5.3 Billion Deal for Plaid

Visa Inc. and Mastercard Inc. have made it plain in recent years they’re interested in something much bigger than card payments. On Monday afternoon, Visa underscored its own determination to be the network for the world’s payments economy by announcing it will lay out fully $5.3 billion to buy Plaid …

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Visa Checkout’s SRC Shift Begins Jan. 21 and other Digital Transactions News briefs from 1/14/20

Visa Inc. said starting Jan. 21 merchants using Visa Checkout will transition to the card brand’s Secure Remote Commerce service. Visa says consumers that have enabled their cards with the service no longer will have to enter the primary account number for compliant transactions. The experience also is compatible with industry tokenization …

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Many ATM Operators Will Blow Tomorrow’s Upgrade Deadline, But Will That Matter Much?

ATM operators on Monday are literally on the eve of a critical upgrade deadline that many have not met, but some industry sources at least say the situation is far from disastrous. Microsoft Corp. on Tuesday will stop supporting its Windows 7 operating system, which runs most bank-owned ATMs in …

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Consumers Are Satisfied Making Contactless Payments, But Security Concerns Linger

Even though contactless credit and debit card transactions made by tapping a card against a point-of-sale device rely on the same standard as EMV dipped transactions, consumers have different impressions of the security benefits, a newly released study says. Indeed, 81% of the 1,350 consumers surveyed for the “Emerging Trends at …

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Mets To Play at Clover Park and other Digital Transactions News briefs from 1/13/20

In what could be the first time a stadium has been named after a payment platform, First Data Field, the St. Lucie, Fla. spring-training home of the New York Mets and the regular-season home of the St. Lucie Mets, the New York Mets’ Advanced-A minor-league affiliate, will have a new …

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Samsung SDS And Syniverse Partner on a Common Mobile-Payments Platform for ‘Anyone With a Phone’

A major enterprise software company and a mobile-technology provider late on Thursday announced an agreement to develop a service they say will provide a universal connection to mobile wallets and “simplify mobile payments for anyone with a phone.” The proposed service will combine application programming interface technology from software vendor …

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Some Fraudsters Are Emphasizing Quality in Their Attacks, Security Firm Says

So-called sophisticated attacks monitored by Mastercard Inc. subsidiary NuData Security jumped 430% in late 2019, with fraudsters deploying more human-aided online attacks rather than fully automated ones in order to fool the defenders. Those findings come from NuData’s “2019: Fraud Risk at a Glance” report released Thursday. NuData is a …

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