Digital Transactions Authoritative, insightful and timely information for payments professionals
The federal Consumer Financial Protection Bureau named four merchant-acquiring companies as defendants in a lawsuit against six people and their associated debt-collection companies that allegedly attempted to collect millions of dollars in so-called “phantom debts” from consumers that the consumers either did not owe or were not owed to the debt …
April, 2015
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8 April
Small Merchants in No Rush To Migrate to EMV: Survey
As the U.S. payment card industry continues its monumental shift to EMV chip card technology, one group of merchants will lag. More than 70% of small merchants will not be EMV compliant by Oct. 1, the date the card networks have set to shift liability for point-of-sale fraud to …
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8 April
Dwolla And BBVA Turn on a Real-Time, Tokenized Payments Service
A real-time payments system featuring tokenized transactions opened to all comers on Wednesday when Houston-based BBVA Compass Bank announced its connection with processor Dwolla Inc. is live for commercial use. “We’ve been in a live environment [with BBVA] for the last two to three weeks with friends and family but …
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8 April
Trustwave Sold for $810 Million; Will Continue As a Standalone Business
Chicago-based Trustwave Holdings Inc. has a new owner. Singapore Telecommunications Ltd. is buying privately-held Trustwave for $810 million, Singtel announced Tuesday. Singtel placed an $850 million value on Trustwave. It will buy 98% of the firm with Trustwave chairman and chief executive Robert J. McCullen retaining 2%. Trustwave, which …
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7 April
Card-Linked Offers Gaining Favor Among Consumers: Survey
Card-linked offers appear to be gaining consumer favor, according to results of a survey from the CardLinx Association, a Burlingame, Calif.-based trade group. Over the past 12 months, consumer use of card-linked offers increased 92%, the association said. It surveyed more than 50 companies. Other survey results show 95% …
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7 April
Microsoft’s Payments Gambit Baffles Some, But Others See Hidden Potential
Microsoft Corp. may bring impressive technical chops as it enters the mobile-payments race, but if ever there were a David up against Goliaths, it’s now the Redmond, Wash.-based computing giant. News broke last week that Microsoft has used a company called Microsoft Payments Inc. to apply for money-transmission licenses with …
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6 April
Eye on Prepaid: Fees Vary Widely, and Millennials More Apt To Favor Prepaid Cards
Prepaid cards may find favor among younger consumers, one survey finds, while another reports prepaid card programs sport a wide range of fees. Also, armored-car company Brink’s has jumped into the prepaid card mix. Fees on 31 prepaid card programs surveyed by Bankrate.com are scattershot, with the types and amounts …
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3 April
The PCI Council Publishes Tokenization Guidance and Looks Forward to EMV
By Jim Daly With the U.S. payment card industry’s eyes glued on the coming of EMV chip cards, the main standards body for card security is trying to remind merchant acquirers, merchants, and card issuers that there is more to security than simply embedding a chip into a piece of …
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3 April
Ingenico And Intel To Develop a Point-of-Sale Tablet Supporting EMV and NFC
Point-of-sale terminal maker Ingenico Group and chip-maker Intel Corp. will work on producing a tablet that supports EMV chip card and near-field communication (NFC) transactions, Ingenico announced Thursday. The tablet is in response to the U.S. payment card migration to the EMV chip card standard, and the growing adoption of …
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3 April
Heartland Payment Systems’ CEO Blasts Indiana Religious-Freedom Law
By Jim Daly Merchant processor Heartland Payment Systems Inc.’s outspoken chief executive Bob Carr weighed in Friday with a statement on Indiana’s controversial Religious Freedom Restoration Act. Carr says the law could relegate some people to “second-class status” and is an “invitation to discriminate.” “It is deeply troubling that the …