Digital Transactions Authoritative, insightful and timely information for payments professionals
This week’s revelation by The Home Depot Inc. that it has incurred $263 million in expenses from its 2014 data breach means that the home-improvement retailer’s breach costs, together with those of another big-box retailer, Target Corp., now total $554 million. In a quarterly regulatory filing Tuesday, Atlanta-based Home Depot …
May, 2016
-
26 May
Cabela’s Using Ingenico Encryption and other Digital Transactions News briefs
• The number of merchants accepting chip cards increased to 1.4 million as of April 30, according to new data from MasterCard Inc. That’s a 17% increase from 1.2 million MasterCard reported in March. MasterCard also says 68% of all U.S.-issued MasterCard-branded consumer credit cards have an EMV chip. The …
-
25 May
Banks Likely To Emulate Wells Fargo’s Pioneering Payment-Enabled Mobile Wallet
Wells Fargo Bank N.A.’s announcement Tuesday that it would launch a mobile wallet with payments capability built into the Android version of its banking app could be a win for the bank, and herald similar moves by other banks. That’s the assessment from Daniel Van Dyke, an analyst at Javelin …
-
25 May
Issuer Group Disputes Merchants’ Durbin Claims and other Digital Transactions News briefs
• The Texas Attorney General’s office and PayPal Holdings Inc. last week settled the office’s allegations that PayPal’s Venmo person-to-person payments service compromised customers’ privacy and security; PayPal agreed to improve disclosures, ensure that Venmo users know who can see their transaction information, and pay the state $175,000. “We are …
-
24 May
Ultra-Low Conversion Rates for Online And Mobile Commerce Evoke Some Suggestions
With more and more consumers getting accustomed to shopping online and on mobile devices, merchants are losing more and more sales to checkout abandonment. “Conversion rates aren’t where we’d like to see them,” said Joe Walent, a senior analyst at Mercator Advisory Group, a payments consultancy. Walent, who spoke Tuesday …
-
24 May
Todd Clark Leaves Star for Co-Op Position and other Digital Transactions News briefs
• Wells Fargo & Co. announced its Wells Fargo Wallet will launch this summer and be incorporated into the banking giant’s mobile-banking app for Android devices, giving customers the ability to make contactless near-field communication payments directly from the app. The app, developed in-house, also will work at Wells Fargo …
-
24 May
New MasterCard CNP Fraud Tool Enlists ISOs, Acquirers as Resellers
Independent sales organizations, merchant acquirers, and payment facilitators catering to small-business owners who have e-commerce sites now can sell them a MasterCard Inc. service to help mitigate the risk associated with card-not-present transactions. MasterCard introduced Simplify Controls Monday, a service that includes an online dashboard and app that enables merchants …
-
23 May
Contactless in the U.K. Reaches 1 Billion Transactions, Tripling the Nation’s 2014 Volume
Confronted with pokey EMV transactions, consumers and merchants in the United States may be eagerly looking for the contactless revolution to start. But in the United Kingdom, the wave-and-pay method is already picking up quite a head of steam. Consumers in the U.K. performed just over 1 billion contactless transactions …
-
23 May
Two Green Dot Directors Up for Re-Election Resign Just Before Contested Annual Meeting
Two long-time members of Green Dot Corp.’s board of directors who were up for re-election suddenly resigned Sunday, just ahead of the company’s contested annual shareholder meeting Monday that potentially could lead to the ouster of company founder and chief executive Steven W. Streit. The Pasadena, Calif.-based prepaid card provider …
-
23 May
Streit Retained, but Two of Dissident Shareholder’s Nominees Elected to Green Dot Board
Green Dot Corp. shareholders re-elected chairman and chief executive Steven W. Streit to the company’s board of directors Monday after a proxy fight, but they also elected two nominees from dissident shareholder Harvest Capital Strategies LLC, which has called for Streit’s ouster. Harvest Capital, which says that Streit is not …