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Opening up the Club

By Jim Daly An exclusive coterie of card networks runs the business of issuing and managing payment tokens. But that elite club soon may have more members. Looking for a business with growth opportunities? Look no further, ladies and gentlemen, than at the business of the token service provider. A …

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What Can Be Learned From the Breach Epidemic?

Each reported breach is a nightmare, but the good news is that each one can also teach acquirers and merchants useful lessons about securing payments data. When fast-food chain Wendyäó»s Co. became the latest brand-name merchant to fall prey to a data-stealing malware attack in late January, the news served …

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Green Dot Launches New Products, Aims To Be a ‘Fin-Tech Powered Branchless Bank’

Green Dot Corp. announced a number of a new products Wednesday and said it was getting into lending in order to generate new revenues and expand beyond its prepaid card base. Under pressure from a large investor to boost its bottom line and flagging stock price, Pasadena, Calif.-based Green Dot reported …

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Can PAR Keep Tokens Out of the Payments Sand Trap?

A new data element is getting a lot of discussion in merchant-acquiring and mobile-payments circles. It’s the so-called Payment Account Reference, or PAR, and it’s meant to associate all the payment tokens linked to a single credit or debit card primary account number, or PAN. But implementing PAR could be …

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Despite Some Fourth-Quarter Improvements, Wall Street Punishes First Data

Leading payment processor First Data Corp. late Tuesday reported modest revenue and transaction growth in 2015’s fourth quarter, as well as better pre-tax profitability and an improved balance sheet in the wake of its October initial public offering, but investors still didn’t like what they saw. The Atlanta-based company’s stock …

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The PCI Council Sets Security Rules for Token Service Providers as their Role Grows

With the coming of mobile payments and their attendant security issues expanding demand for so-called token service providers, the PCI Security Standards Council has issued rules intended to keep the tokenization environment safe. The Wakefield, Mass.-based PCI Council in December quietly released a 92-page document titled, “Additional Security Requirements and …

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Despite ‘EMV Cloud,’ Cardtronics Pushes Forward With Growth Plans

Look for more ATM placements, capital spending, and possible acquisitions by leading retail ATM network owner and operator Cardtronics Inc. in 2016. The growth plan mostly conforms to the long-term strategy the company has been following in recent years, according to comments by top Cardtronics executives late Thursday. Houston-based Cardtronics …

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Visa Opens Scores of Its APIs to Developers in a Bid To Speed Payments Innovation

In a move that recognizes the powerful role application developers play in the global payments arena, Visa Inc. on Thursday opened scores of its application programming interfaces to thousands of outsiders worldwide, including merchants, banks, and technology companies. The new program, called Visa Developer, embraces some 155 APIs and includes …

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Adyen Goes to the (Physical) Store

E-commerce processor Adyen Inc. announced last month it is now offering payments capability for physical stores in the United States, a move that follows the company’s success in providing a payments gateway for a number of prominent digital clients, including Facebook, Uber, Airbnb, and Netflix. Adyen, a Netherlands-based company with …

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Why Transit Is Boarding the Mobile-Payments Train

Public-transportation agencies increasingly are turning to mobile-ticketing apps to attract riders and lower fare expenses. Mass-transit riders once read newspapers as they commuted to work. But hop on any commuter train, subway, or bus nowadays and you’re more likely to see passengers using smart phones to read news reports, listen …

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