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News

January, 2015

  • 22 January

    Despite Top Court’s Rebuff, Merchants Seek Debit Relief With Fed’s Own Data

    The U.S. Supreme Court may have rebuffed merchants seeking to cut debit card transaction costs, but that doesn’t mean they’re entirely out of options. On Thursday, the Merchant Advisory Group, a Minneapolis-based trade group that counts big-box stores and airlines among its 175 members, released a 16-page white paper using …

  • 21 January

    EBay Announces It Will Cut 2,400 Jobs Globally As PayPal Posts Surging Growth

    Last year was a rocky one for eBay Inc., and on Wednesday the company announced it will do some streamlining: In the first quarter, the PayPal Inc. parent company, which reported a $41 million net loss for 2014, will lop off 2,400 jobs across all of its operating units, or …

  • 21 January

    A Decentralized Payments System May Work Against a Smooth U.S. EMV Migration

    The United States with its several thousand credit and debit card issuers and more than a dozen payment networks presents a stiff challenge to the card industry as it tries to convert from magnetic-stripe stripe cards to Europay-MasterCard-Visa (EMV) chip cards, two industry veterans told a group of independent sales …

  • 21 January

    COMMENTARY: Securing the Future of Safe Electronic Payments

    Americans love to shop. Whether online, in a small mom-and-pop business, or at a big-box retailer, shoppers turned out in droves this past holiday season. From Thanksgiving through Cyber Monday for example, online sales were up 12.6%–a record week–according to the IBM Digital Analytics Benchmark. For the holiday season overall, …

  • 21 January

    Banks and Credit Unions Continue To Sign Up for Apple Pay

    The number of banks and credit unions that support Apple Pay, Apple Inc.’s mobile payment scheme, continues to grow with the First National Bank of Pennsylvania among the latest to join the list. The bank, a unit of Pittsburgh-based F.N.B. Corp., says its debit card users now can use the …

  • 21 January

    AmEx Claims 400,000 Small Merchants Through Its ISO-Driven OptBlue Program

    Some 400,000 small merchants now accept American Express Co. payment cards through the OptBlue program that AmEx announced nearly a year ago. OptBlue enables bank card merchant acquirers and independent sales organizations to offer AmEx acceptance to small businesses and set the pricing through a one-stop-shopping option when they sell …

  • 20 January

    As New-Merchant Pricing Slips ‘Dramatically,’ Squeeze on Acquirers Ratchets up

    Price compression in the merchant-acquiring business is nothing new, but research from First Annapolis Consulting shows it may be much more intense than previously thought. “The price point that an acquirer must present to sign a new merchant is falling and falling dramatically in the very segments most acquirers would …

  • 20 January

    Supreme Court Rejects Petition, Dealing Merchants Another Defeat on Debit Cards

    Merchants battling debit card pricing and routing rules suffered another defeat on Tuesday. The U.S. Supreme Court rejected a petition from a merchant group seeking to have the high court hear its arguments against Federal Reserve rules regulating debit card interchange and transaction routing. The move leaves intact a lower-court …

  • 20 January

    Seeking an ‘Integrated Mobile Offer,’ Ingenico Completes Takeover of Roam Data

    Point-of-sale terminal maker Ingenico Group now owns all of Roam Data, a mobile POS company it first invested in in 2009. France-based Ingenico says the Roam brand will continue to be used on products, but the company name will be wrapped up into Ingenico. “With 100% of Roam, we will …

  • 16 January

    Eye on Apple: Watch’s PIN Protection; Grocer Adds Apple Pay at Checkout

    Apple Inc.’s much anticipated Watch, which includes a near-field communication (NFC) chip for making contactless payments, will be protected by a four-digit PIN, reports Australian Web site CSO. Apple Watch users will need to enter the passcode to use Apple Pay on the watch, the site says. It remains unclear …

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