News

July, 2015

• 9 July

  As the Spinoff Looms, Investors Eagerly Await Unlocked Value in the Post-eBay PayPal

  By Jim Daly Next week’s planned split of PayPal from parent company eBay Inc. has payments investors anticipating that plenty of locked-up value and growth opportunities will be released for the online payments leader. PayPal began trading on a so-called “when-issued” basis Monday on the Nasdaq Stock Market under the …
• 9 July

  The CFPB Weighs in With Guidelines to Protect Consumers Using Faster Payments

  The federal Consumer Financial Protection Bureau on Thursday issued nine guidelines summarizing its vision for faster payments as banks, payment processors, tech companies, and other government regulators continue work on proposals for improving U.S. payments. “Companies developing new financial technologies should be building systems from the outset with consumer protections …
• 8 July

  Smart Phones Increase Dominant Grip on Mobile Payments, Adyen Report Shows

  Smart phones continue to dominate mobile payments made by consumers, garnering 64.1% of all such mobile transactions in the second quarter of 2015, reports the Adyen Mobile Payments Index. That’s an increase from 61.8% in the first quarter, and handily bests mobile transactions made with tablets. The use of tablets …
• 7 July

  Cardtronics To Lose Its Biggest Customer as 7-Eleven Shifts ATM Operations to Affiliate

  By Jim Daly Retail ATM network owner and manager Cardtronics Inc. reported Tuesday morning that its biggest merchant customer, Dallas-based 7-Eleven Inc., picked a corporate affiliate to run its U.S. ATM fleet when the leading convenience-store chain’s 10-year placement contract with Cardtronics expires in July 2017. 7-Eleven accounted for 17.5% …
• 7 July

  Credit Card Volume Gains in Resurgent Economy, as Debit Card Use Trails

  Credit card use, even in merchant categories dominated by debit cards, appears to be growing quicker than debit card use, reports the Federal Reserve Bank of Philadelphia in a whitepaper released Monday. The report finds that, from 2007 through 2012, credit cards’ share of payments increased 5% at gas stations …
• 6 July

  No Easy Answers for Retailers as They Grapple With POS System Upgrades

  Retailers, especially larger ones, face a contradiction: they know they need to update their point-of-sale systems to take advantage of new technologies and consumer-shopping behavior, yet most resist that urge because of the expense. That’s one of the findings from “Commerce Convergence: Closing the Gap Between Online and In-Store,” a …
• 6 July

  COMMENTARY: Don’t Let the Scourge of ‘Friendly Fraud’ Hurt Your Bottom Line

  You may have heard the term, “friendly fraud.” It’s no surprise, then, that there’s nothing friendly about it. And it’s quickly becoming a major problem for merchants across the globe. Friendly fraud, also called friendly-fraud chargebacks or cyber-shoplifting, occurs when a customer makes a purchase online and then files a …
• 6 July

  Europeans Ahead of Americans With Contactless Payments, Visa Europe Data Indicate

  New data from Visa Europe indicate that while contactless payments are still a small portion of European card-based payments, they’re growing fast and likely far exceed the current level of U.S. contactless payments. London-based Visa Europe, a bank-owned licensee of Visa Inc., on Monday said there are 2.6 million contactless …
• 2 July

  The PCI Council Updates Standards for Point-to-Point Encryption and Card Readers

  The PCI Security Standards Council this week updated its standards governing point-to-point data encryption (P2PE) and card-reading devices for the point of sale, ATMs, kiosks and mobile devices. One of the key changes in the new Version 2.0 of the P2PE standard will make it easier for security-solutions providers to …
• 1 July

  PayPal To Acquire Online Wire-Transfer Provider Xoom for $890 Million in Cash

  PayPal Inc. plans to buy online wire-transfer provider Xoom Corp. in an all-cash deal valued at $890 million, the companies announced late Wednesday. The planned acquisition comes less than three weeks before PayPal’s expected spin-off from eBay Inc. and will bring under PayPal’s wing a highly regarded rival in the …