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Chargebacks Tied to EMV Transition and other Digital Transactions News briefs
June 19, 2017

• PNC Bank N.A. said its Visa commercial cardholders can use their cards in Apple Pay and Samsung Pay, a move that PNC said makes it one of the first U.S. banks to enable mobile wallet payments for its commercial cards.

• A survey from Vesta Corp. found that 62% of 155 senior finance executive respondents had seen both the number and dollar amount of credit card chargebacks increase since the advent of EMV cards in the United States. Additionally, 64% noted measured increases in the number and dollar amount of credit card chargebacks specifically related to card-not-present transactions.

• Stockholm-based online payments firm Klarna, which has been operating in the United States since 2015, was awarded a banking license by Sweden's Financial Supervisory Authority. The license is valid throughout the European Union.

• Payment gateway USAePay announced a partnership with Actum Processing, which provides automated clearing house processing services.

• FuturePay Inc., which provides financing for online purchases, said it joined the Salesforce Partner Program for the Salesforce Commerce Cloud, an online commerce platform.

• Processor Total System Services Inc. (TSYS) announced it will continue to provide issuer processing services to Valley National Bancorp's Valley National Bank unit.

• Processor Fiserv Inc. said fintech startup DailyPay is using Fiserv's Digital Disbursements service to enable companies to provide employees with instant access to their earned wages.

• Credit-reporting agency Equifax Inc. announced it has a deal to acquire ID Watchdog, an identity-theft protection and resolution provider whose services are distributed primarily through employee-benefits channels.

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