Thursday , October 22, 2020

Amazon To Use Mastercard Tokenization and other Digital Transactions News briefs from 6/17/20

  • Mastercard Inc. announced Inc. will start using tokens to replace actual customer card data throughout 2020. Tokenization replaces actual card data with data strings that are meaningless to outside parties. The process also permits automatic credential updating when cards expire.
  • Payments card standards body EMVCo made it official—consumer-facing online-payment checkout options based on EMVCo’s Secure Remote Commerce standard are to be known as Click to Pay. The payment card networks, which own EMVCo, have been referring to their new SRC services as Click to Pay since about the start of the year.
  • RentMoola Payments Solutions Inc. said it now offers the PayPal Holdings Inc. digital wallet as a rent payment option. PayPal has more than 130 million active U.S. accounts and more than 7 million in Canada
  • F 1 Payments, Cross River Bank, and RS2 Software announced a deal that will see F 1 Payments use RS2’s processing platform, while sponsored by Cross River Bank, to offer payments services to physical and virtual businesses.
  • FIS Inc.’s Worldpay unit launched Open Banking Hub, which allows online merchants to offer customers the ability to pay in real time directly from their bank accounts and view account balances during checkout.
  • Financial card manufacturer CPI Card Group Inc. said it is working with Visa Inc. to launch the Earthwise High Content Card, a payment card made with re-used, or “upcycled,” plastic.
  • Payments testing and consultancy FIME announced its acquisition of the U.S. unit of CETECOM, a testing and certification provider. Terms were not disclosed.
  • Darren Walker, president of the Ford Foundation, has joined Square Inc.’s board of directors.

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