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News

July, 2013

  • 17 July

    Nine Months After Launch, Isis Usage Sputters Among Small Merchants

    Nine months after the Isis mobile wallet launched in Austin, Texas, and Salt Lake City, usage among small merchants appears to be sporadic at best, despite considerable fanfare and promotion at the launch. But some of the factors blamed by merchants contacted by Digital Transactions News have little to do …

  • 17 July

    With Discover Link Active, eBay Boss Says PayPal Seeking to ‘Build Out’ POS ‘Ubiquity’

    PayPal Inc.’s point-of-sale initiative, which has seen the e-commerce processor penetrate thousands of stores while stirring controversy with at least some incumbent processors, will focus on achieving “ubiquity” and solving consumer “pain points” for the next several years, eBay Inc.’s chief executive said on Wednesday. The initiative, which began early …

  • 16 July

    New Retirement Funding Plan Latest Effort by Loss-Racked First Data To Control Costs

    In an effort to free up cash to rebuild its struggling business, payment processor First Data Corp. will stop funding its 24,000 employees’ retirement plans with cash and instead provide stock grants to all employees. New First Data chief executive Frank Bisignano announced the change Monday in a memo to …

  • 15 July

    A Startup Sees Dramatic Growth with an API for Two-Click E-mail Transactions

    As mobile-payments strategists struggle with clunky checkouts that lead to abandoned sales, a startup based in Albuquerque, N.M., is seeing dramatic early success with a 3-month-old solution that allows consumers to buy products from e-mail messages with a pair of clicks. The company, @Pay LLC, has signed up more than …

  • 11 July

    Retailer-Owned MCX M-Payments Network Takes Shape with FIS As Processor

    Merchant Customer Exchange (MCX) on Thursday announced that Fidelity National Information Services Inc. (FIS) will do the transaction processing for the nascent mobile-payments network owned by some of the nation’s largest retailers. MCX also said department-store company Kohl’s Corp. and the parent company of the Circle K convenience-store chain are …

  • 11 July

    With EMV Looming, Fears of Rising Online Fraud Will Drive Biometrics, Expert Says

    Biometric authentication will be in widespread use by financial institutions and online merchants by 2015, a payments-security expert predicts. “We’re at the threshold, it’s going to be common in the next year or so,” Al Pascual, a senior analyst at Javelin Strategy & Research, tells Digital Transactions News. Pascual forecasts …

  • 10 July

    Small Issuers See Durbin Impact on Interchange, Pulse Debit Study Indicates

    The Durbin Amendment’s pricing caps are having an impact on small issuers as well as large, and issuers overall are far from bullish about debit-transaction growth, according to a wide-ranging report released on Wednesday. Issuers exempt from the law’s interchange cap report an average income of 45 cents per transaction …

  • 10 July

    Researcher Predicts Almost 90% of U.S. POS Terminals Will Be EMV-Capable by 2017

    Nearly 90% of U.S. point-of-sale terminals will be ready to accept Europay-MasterCard-Visa (EMV) chip cards by 2017, according to a new Aite Group LLC study. The report examines the reterminalization of card-acceptance locations triggered by the payment card networks’ plans announced in 2011 and 2012 to wean America off of …

  • 8 July

    New Consensus on Debit Routing Removes EMV Obstacle But Leaves Timing Unclear

    The payments industry may have solved a vexing problem related to EMV chip cards and the Dodd-Frank Act’s Durbin Amendment, but whether that solution will smooth the way for EMV (Europay-MasterCard-Visa) deployment in the United States is less clear. The EMV Migration Forum, an industry group that has been working …

  • 8 July

    How a Brewing Fee Controversy Could Threaten Growth of Prepaid Payroll Cards

    A controversy over paying lower-wage workers with payroll cards could threaten the growth of one of the fastest-expanding prepaid card markets, observers say. A lawsuit filed by a former McDonald’s Corp. restaurant worker in Pennsylvania who was paid via payroll card has attracted attention from federal authorities and triggered an …

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