News

January, 2014

• 24 January

  Twitter Getting Serious About Payments and Commerce? It Might Be

    Social media network Twitter Inc. may be on the verge of enabling full-fledged commerce, and payments, for the more than 230 million monthly active users of the service, according to a report on Re/code, a technology news site. In it, Re/code says Twitter is nearing a deal with Stripe, …
• 23 January

  Mobile-Payments Specialist Paydiant Patents an App That Stages ATM Cash Withdrawals

  A mobile-banking feature that allows ATM users to stage withdrawals in advance received a patent Tuesday from the U.S. Patent and Trademark Office. The technology, conceived and implemented by Paydiant Inc., a Wellesley, Mass.-based startup, has already been integrated into software at ATM maker Diebold Inc. and at Fidelity National …
• 23 January

  New T-Mobile Prepaid Card Presents Opportunities and Risks for Blackhawk Network

  It’s best known for its Gift Card Mall displays of retailer gift cards and other prepaid cards in grocery stores, but prepaid card services provider Blackhawk Network Holdings Inc. is a force in general-purpose reloadable (GPR) prepaid cards. It had a GPR business even before 2010, when it launched its …
• 22 January

  EBay Boss Donahoe Issues a Strong Rebuff to Raider Icahn’s Call for a PayPal Spinoff

  The board of directors of eBay Inc. is “unified” in opposing a proposal from famed activist investor Carl Icahn that the company spin off its PayPal Inc. unit, eBay chief executive John Donahoe told analysts Wednesday afternoon. Calling the proposed separation a “distraction” coming just as eBay is trying to …
• 22 January

  Global Gateway Adyen Sees $14 Billion in 2013 Transactions, Up 40% from 2012

  Global payment gateway provider Adyen processed more than $14 billion in global payments in 2013, a 40% increase from $10 billion in 2012, the company recently announced. n Mobile transactions in particular are growing for the Amsterdam-based company, and taking a larger share of overall transactions. Mobile payments accounted for …
• 21 January

  Breaches Underscore EMV Routing Divide As ATMIA Critiques MasterCard Stand

  The recently disclosed data breaches at Target Corp. and Neiman Marcus Group have breathed new life into an industry dispute over how to account for network choice in routing EMV debit transactions. The ATM Industry Association on Tuesday issued a statement critical of MasterCard Inc. for earlier this month declaring …
• 21 January

  Target’s Data Breach Lifts 2013’s Tally of Compromised Payment Cards Way Past 2012’s Total

  The number of credit and debit cards compromised in 2013’s data breaches was on track by mid-December to be more than double the number of cards compromised in 2012, but then along came Target Corp.’s massive breach that exposed 40 million more. Thus, the Identity Theft Resource Center now estimates …
• 20 January

  Security Firm Identifies Alleged Target Malware Creator as Russian Teen

    A 17-year-old Russian boy is behind the malware that has wreaked havoc at Target Corp., says IntelCrawler LLC, a Sherman Oaks, Calif.-based data-security company. In a release posted on its Web site Friday, IntelCrawler disclosed that it tracked down the alleged hacker via its own sources, including chat transcripts …
• 16 January

  Amid EMV Travails, X9 Convenes a Meeting to Investigate Standards for Debit Routing

  Against a backdrop of knotty problems besetting the U.S. introduction of EMV, a financial-services standards body is investigating the potential for a set of non-proprietary chip card rules for EMV debit routing. n The group also broke up into subgroups during the meeting, which was held Dec. 9-10 at the …
• 15 January

  Mobile Devices Capture the Lion’s Share of Consumer Remote Deposit Capture Users

  A new research report from Celent LLC estimates that the number of consumers using the mobile variant of remote deposit capture (RDC) nearly doubled in 2013 and predicts that users will triple by 2016 to 61 million. Along with documenting its growth, however, the report says remote capture is sustaining …