Friday , October 19, 2018

Mobile Wallets

Help With ETA Self-Regulation Program Debuts and other Digital Transactions News briefs from 10/4/18

Among debit card issuers Apple Pay made up 77% of mobile-wallet transactions, Auriemma Consulting Group said in an analysis of mobile wallets. Samsung Pay and Google made up 17% and 6% of transactions, respectively. Rich Consulting and Double Diamond Group launched a suite of services to aid acquirers, independent sales …

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ControlScan Working With P97 Networks On M-Payments Security

P97 Networks Inc., the Houston-based company behind mobile wallets from Gulf Pay and Phillips 66, will work with data-security provider ControlScan Inc. on controls for mobile-payment services. Announced Tuesday, the deal is targeted at convenience stores and fuel retailers, quick-serve restaurants, and related merchants. Alpharetta, Ga.-based ControlScan will be tied into …

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In Boarding New Accounts And Reducing Abandonment, Biometrics May Be Nearing the Mainstream

Biometric authentication may be coming into its own as a tool to aid financial institutions and payments companies in serving their customers. At financial institutions, as much as $20.75 million is saved annually using biometric authentication instead of SMS one-time password services, says Reston, Va.-based Daon Inc., a biometric-services company, …

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Qoins Debuts As Debt-Payoff Service and other Digital Transactions News briefs from 9/28/18

A new micropayment platform called Qoins has just closed a first round of funding for $1 million. The app allows users to pay off debt by rounding up purchases to the nearest dollar and sending the excess to the creditor, with a focus on credit card and student debt. Qoins …

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Chase Adds Card Lock Feature and other Digital Transactions News briefs from 9/27/18

BNY Mellon has become the first bank client to sign a reseller agreement with Early Warning Services’ Zelle person-to-person payment network for tokenized disbursements to consumers. Zelle indicated earlier this year it would expand into disbursements as a potential field for fee-based payment services. Zelle also announced Dollar Bank now offers Zelle …

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The PCI Council Will Take Further Comments on an Updated Point-to-Point Encryption Standard

When security managers and executives gather this week for the PCI Security Standards Council’s annual North America Community Meeting, one of the topics sure to be on their minds is point-to-point encryption (P2PE) of payment card data. The Council reported Friday that it plans to issue a new version of …

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How iZettle Could Boost PayPal’s Long-Held Strategy to Embrace the Physical Point of Sale

For years, PayPal Holdings Inc. has worked to expand its reach to physical merchants, and now, with the closing on Thursday of its $2.2 billion acquisition of Stockholm-based iZettle AB, the digital-payments company is taking a significant step in achieving that ambition. At a stroke, the acquisition brings to PayPal …

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Bay Area Transit Board To Consider a Big Fare Contract, but Open-Loop Payments Aren’t Included

The San Francisco Bay Area’s Metropolitan Transportation Commission next week will consider a $461 million contract with Cubic Transportation Systems to modernize the Clipper fare-payment system used by 22 separate transit agencies in the region. The upgrade will retain the closed-loop Clipper card that uses near-field communication for contactless fare …

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Nxt-ID To Spin Off Payments Business and other Digital Transactions News briefs from 9/21/18

Nxt-ID Inc. announced it will spin off its payments, authentication, and credential-management assets, including its FitPay unit, into a separate and independent company. It expects to complete the transaction by Nov. 15. Michael Orlando, currently chief operating officer at Nxt-ID and president of FitPay, will become chief executive of the …

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Amazon Could Have a Ready-Made Customer Base for a Bank, Bain Reports

With rumors circulating that Amazon.com Inc. is interested in getting into banking and also preparing to open thousands more cashier-less stores, new research results released by management-consulting firm Bain & Co. claim that a large pool of consumers would be willing to bank with the online retailing giant. “Our survey …

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