Tuesday , January 16, 2018

Issuing/Originating

A Sluggish Uptake for Mobile Payments Opens a Door for Tech-Oriented Payment Cards

When major technology companies started launching mobile-payments services a few years ago, many observers figured digitized and tokenized card credentials would soon replace old-fashioned plastic. But now, the chronically sluggish adoption and usage rates these mobile wallets have registered is lending new life to plastic cards. The twist is that …

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Eye on CES: Rear-View Mirror Payment Authentication and a Multi-Function Card

The huge CES (formerly the Consumer Electronics Show) expo is underway in Las Vegas, and out of it are coming the latest whiz-bang developments in payment technology. Among them: connected cars that enable the driver to pay for gas with a Visa card and authenticate the transaction with an iris …

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A Bank Reaction to Tech Firms’ Push Among the Top 2018 Payments Trends, Says Aite

As technology firms, both within financial services and those entering it, take larger shares of banking revenue streams and become more like banks, financial institutions will beef up their tech investments as they attempt to counter this pressure, advises Aite Group LLC in a report on 2018 financial-services trends. In …

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Security Fears Hobble Adoption And Usage of Mobile Payments, Fed Report Finds

If you ask consultants what’s holding back mobile payments in the United States, you’ll get answers ranging from lack of acceptance ubiquity to malfunctions at the point of sale to consumers’ perceptions that payment cards work just fine. Now the nation’s financial institutions have weighed in on the matter, and …

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Credit Card Payments Continue To Lead the Pack in Growth, Fed Study Finds

Boosted by e-commerce sales, growth in credit card payments far outpaced growth in debit card and automated clearing house payments in 2016, according to newly released findings from the Federal Reserve. Credit card transactions grew 10.2% from 2015’s levels to 37.3 billion and were valued at $3.27 trillion, the Fed …

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Some 2.5 Million, Or 55%, of All Merchant Locations Now Accept EMV, Visa Data Shows

Some 55% of all U.S. storefronts were accepting EMV chip cards as of September, according to the latest quarterly data from Visa Inc., released Monday. That comes to more than 2.5 million merchant locations, up 9% from June and 538% from September 2015, when 392,000 locations were accepting chip cards …

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Johnson Named PCI Security Standards Council Executive Director

The PCI Security Standards Council named Lance J. Johnson to the executive director position. Johnson, who had been chief operating officer at Sequent Software Inc. for the past five years and spent 20 years at Visa Inc., replaces Stephen W. Orfei, the general manager who left earlier this year after …

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After Rebuffing Atos, Gemalto Accepts $5.7 Billion Buyout Offer From Thales

Paris-based defense, aerospace, and transportation contractor Thales S.A. announced Monday that it has a €4.8 billion ($5.66 billion) deal to acquire Gemalto N.V., the world’s largest maker of chips for smart cards and mobile phones. The announcement that Thales plans to buy Gemalto for €51 per share ($60.1) comes just …

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In Making Its App Work With Apple’s Face ID, Discover Could Tap Into a Budding Appetite for Biometrics

Wider availability of technology that would have been nearly unthinkable only a few years ago is making biometric authentication a more likely replacement for the password. In the latest development, Discover Financial Services on Thursday announced users of its mobile app who own an iPhone X can log in to …

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AmEx Says It Will End Its Signature Requirement, Leaving Visa As the Last U.S. Holdout

American Express Co. on Monday became the third of the four major U.S. card brands to announce it will cease requiring signatures for transactions made with its cards at the point of sale beginning in April 2018. AmEx says its rule change applies to all point-of-sale purchase transactions globally, a …

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