Monday , October 22, 2018

Issuing/Originating

Eye on Data Breaches: British Airways Reports Hack; Survey Finds 21% of Equifax Victims Noticed ‘Unusual’ Financial Activity

Some 380,000 payment cards used by British Airways customers have been compromised in a data breach, and more than one in five consumers surveyed about last year’s massive breach at credit-reporting agency Equifax Inc. reported “unusual activity” in its wake, including new account openings. British Airways, one of Europe’s largest …

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Data Breaches Register on the Stock Market, Too, And Payments Firms Are Hardest Hit

Data breaches bring a slew of bad consequences for the victim, not the least of which are the costs of lost business, remediation, and, possibly, litigation. But for publicly held entities, there’s an additional risk: a lasting hit to the share price. For 24 companies whose shares are traded on …

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PayPal Still Reigns in Digital Wallets While Apple Pay Gains and Samsung Pay and Google Pay Diverge

PayPal remains by far the most popular digital wallet with U.S. consumers, but Apple Pay has gained the most since 2017’s third quarter, according to recent findings from technology research firm 451 Research. New York City-based 451’s Voice of the Connected Consumer survey asks consumers about their usage of 15 …

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Bitcoin Has Calmed Down—And Fees Have Gotten Cheaper—But Will Merchants Bite?

For all the gyrations Bitcoin and its enthusiasts have experienced over the past 12 months, the digital currency has managed to trace a relatively calm track lately. It remains, however, an acquired taste for users, and while some independent sales organizations have begun efforts in recent weeks to sell it …

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Adyen Touts Its 3-D Secure 2.0 Service As “First” to Market

The first commercial implementation of 3-D Secure 2.0, an online fraud-prevention tool, appears to be here. Processor Adyen N.V. announced Friday the launch of its 3DS 2.0 service, claiming it is the first to be available to merchants. 3-D Secure 2.0 is an EMVCo-maintained standard that aims to curb online …

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Mangum Leaving Global Payments and other Digital Transactions News briefs from 8/31/18

Processor Global Payments Inc. announced its president and chief operating officer, David Mangum, plans to leave. No details were immediately available about why or when Mangum will depart. Chief executive Jeff Sloan and Cameron Bready, senior executive vice president and chief financial officer, have extended their employment agreements through August …

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True Believers Insist Blockchain And Cryptocurrencies Will Take Over the World

The panelists were not subtle in assessing the future of digital currencies and the decentralized blockchain technology behind them. “Cryptocurrencies and blockchain will take over the world, it will be a bigger impact on the world than the Internet,” said investment banker Dennis O’Neill, chief executive of Chicago-based O’Neill Capital …

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U.S. EMV Merchant Locations Grew by 400,000 in 2018’s First Half, Visa Data Show

Approximately 400,000 U.S. merchant locations began accepting EMV chip cards in 2018’s first six months, according to new data from Visa Inc. In its latest report on the U.S. conversion from magnetic-stripe payment cards to the EMV standard, Visa on Wednesday said 3.1 million merchant locations accepted the new cards …

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Yet Another POS System Breach, This One at Cheddar’s Scratch Kitchen

Criminals were able to infiltrate another point-of-sale system, this one used by Cheddar’s Scratch Kitchen, a unit of Darden Restaurants. Announced Wednesday, the breach involved Cheddar’s locations in 23 states. Payment card information, including card numbers, from consumers who used them at Cheddar’s restaurants between Nov. 3, 2017, and Jan. …

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Dual-Message Interchange for Regulated Debit Card Issuers Declined in 2017, the Fed Reports

Interchange on debit card transactions has changed relatively little in the nearly seven years since the Durbin Amendment to the 2010 Dodd-Frank Act took effect, but a Federal Reserve report notes one small but interesting recent change. The average interchange fee in 2017 for dual-message transactions on debit cards regulated …

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