October, 2019

• 1 October

  Security Notes: Four Risks of Digital Money

  

  China has committed itself to digital money. The world, looking upon China as the second-biggest market on the planet, is watching—and following suit. The step is colossal and risky, as it can catapult national economies in a spectacular way. The announcement in June of Facebook Inc.’s Libra project spurred this …
• 1 October

  For FedNow, a Lot More Questions Than Answers

  

  It’s still at least three years off, but it’s none too soon for bankers and payments executives to be wondering exactly how the Federal Reserve’s planned FedNow real-time payments service will shape up. What will be the pricing, what about disputed transactions, and just what exactly is a real-time payment, …
• 1 October

  The Network Crackdown on Negative-Option Billers

  

  Ever signed up for a free trial subscription and then forgotten about it, only to find out you’ve roped yourself into receiving an unwanted service or publication on an ongoing basis? Both bank card networks have now implemented or plan to implement stricter rules on so-called negative-option billing and subscriptions …

September, 2019

• 3 September

  Security Notes: Breaches Show Identity Is Key

  

  Capital One is known as the “Technology Bank” by its early adopters. It is the last bank at which someone would expect a massive breach. And, indeed, with its 77 million victims, Capital One’s breach in March is not even among the top five breaches in the United States. So …
• 3 September

  After a Decade And a Merger, the BofA-First Data JV Closes Out

  

  There had been whispers about the possibility for months, but this summer the parties confirmed it: The end of Bank of America Merchant Services, a long-running merchant-acquiring joint venture between Bank of America Corp. and First Data Corp., is now at hand. On July 30, the same day that First …
• 3 September

  Venmo Leverages Instant Transfers As It Digs for Revenue

  

  With real-time payments in the headlines these days, it’s not surprising payments companies are jumping on the faster-payments bandwagon (more on this in “The New Reality in Real-Time Payments,” this issue). But some, like PayPal Holdings Inc., are finding ways to use speedier funds to bolster revenue. PayPal last month …

July, 2019

• 1 July

  Security Notes: The Uses of Digital Money

  

  The Fed hesitates and the networks hold on to power, but technology breaks through. The efficiency and convenience of digital money are slowly but surely making it the currency you stuff your wallet with. While pure, airy cryptocurrencies without a central mint are still very much fringe money, the deeper …
• 1 July

  How the Global-TSYS Deal Is Different

  

  Payments observers are tempted to think of the $21.5 billion proposed merger of Global Payments Inc. and Total System Services Inc. (TSYS), announced last month, as the latest megadeal in a series initiated in January when Fiserv Inc. said it would acquire First Data Corp. That announcement was followed by …
• 1 July

  No Fast Payoff From SRC

  

  News that the major payment card networks will implement a standardized buy button later this year may have stirred hopes among issuers, merchants, and acquirers that the longstanding problems of rising e-commerce fraud and inconsistent checkout flows will finally be addressed. But already cautionary notes are emerging to indicate the …

June, 2019

• 1 June

  Security Notes: The ‘Health-Care’ Strategy

  

  The best health-care advice you can get is: “Eat right, sleep right, exercise, wash your hands, do Yoga, and don’t watch the news.” We have plenty of data to validate such advice, and it works. Alas, every so often, we get sick, fall, get hurt. And then we expect a …