Digital Transactions Authoritative, insightful and timely information for payments professionals
Data Insecurity Part 4 Securing transactions at the point of sale seems like child's play compared to the Internet, and since the payments volume is 20 to 25 times the size of online transacting, a natural venue for improved data security. But the rash of data breaches (covered in Part …
Read More »Striking New York City Cab Drivers Want To Drop off Cards
Merchants often grumble about the costs and hassles of accepting payment cards, but rarely do they go on strike in protest. But that's what some New York City taxicab drivers started doing on Wednesday, though their gripes involve more than just cards. According to late-morning wire-service accounts, an unknown number …
Read More »M-Banking Will Beget M-Payments, But Not Without Labor Pains
Though still in its infancy, mobile banking will balloon from 1.68 million to 34.9 million users over the next four years, laying the groundwork for mobile payment channels such as physical-world transactions via near-field communication (NFC) and mobile commerce, a new report argues. Already, report author Nick Holland, a senior …
Read More »Phishing Attacks Nearly Hit an All-Time High in June, Report Says
Phishing fraudsters were exceptionally busy in June, with a near-record number of unique online attacks hitting consumers' PCs during the month, according to the latest report from the Anti-Phishing Working Group, which tracks the fraud. The group recorded 28,888 unique phishing reports, up 23% from May and just shy of …
Read More »Google: Don’t Read Too Much into Our M-Payment Patent Application
Despite the frenzy of media speculation it unleashed over the Labor Day holiday weekend, Google Inc.'s application for a patent covering mobile payments draws little comment from the Mountain View, Calif.-based search giant beyond a cautionary note that the mobile service may not progress beyond the drawing board. “We file …
Read More »Discover Expands Its Gift Card Franchise Through a Big Mall Operator
Discover Financial Services LLC for the first time is selling its gift card to non-Discover customers and at retail locations through a new agreement with Chicago-based General Growth Properties Inc., the nation's second-largest regional shopping mall developer and manager. Under the program, consumers will be able to buy Discover gift …
Read More »Good Consumers Will Show Up for Good Security Measures
Data Insecurity Part 3 For as long as we've had threats to transacting online, there's been a data-security industry poised with a vast array of solutions to protect us, anxiously awaiting evidence of a compelling business case to get things started. But for just as long, it's been axiomatic that …
Read More »Diebold Sees Early Interest in Technology Linking Handsets to ATMs
New mobile-transaction technology developed by ATM maker Diebold Inc. is already attracting interest in the marketplace and promises to change not only the way consumers interact with ATMs but also how they pay merchants and each other. The North Canton, Ohio-based company announced earlier this week it had received five …
Read More »How a Software House Sells Remote Capture Directly to Merchants
Omaha, Neb.-based RemitPro Inc. is teaming up with payment processor Vanco Services LLC to open up a new category of smaller merchants to the developer of electronic-check software while removing the need for those businesses to change banks. RemitPro produces the eRemitPro data-capture and imaging application used by 150 clients …
Read More »NYCE, Fair Isaac Focus on Terminal-Based PIN Debit Fraud Control
Seeking to contain a growing form of payment card fraud, the NYCE Payments Network LLC has called upon risk-control technology provider Fair Isaac Corp. to help it spot fraud at the network's point-of-sale terminals and ATMs that accept PIN-based debit cards. While NYCE is not reporting any unusual fraud, its …
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