Digital Transactions Authoritative, insightful and timely information for payments professionals
Major financial institutions are prepared to make bigger investments in mobile payments next year, but may not be moving fast enough to ward off non-bank competition, according to a report issued earlier this week. The chief type of mobile payments these institutions will be pouring money into in 2012 …
December, 2011
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12 December
Using Malware And Skimmers, Fraudsters Harvest Card Data at Restaurant Depot, Lucky
The data-breach Grinch is stealing Christmas from a big restaurant supplier and Lucky Supermarkets, a major West Coast grocery chain, both of whose payment card acceptance systems were compromised recently by fraudsters using different techniques. The breach at Queens, N.Y.-based Restaurant Depot LLC, which also does business under the …
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9 December
While NFC Continues to Lag, Starbucks’s Barcode System Logs 26 Million Mobile Payments
With mobile payments based on near-field communication (NFC) technology struggling to gain acceptance, new figures from Starbucks Corp. provide yet another example of how non-NFC systems are jumping to a fast lead in the mobile race. The Seattle-based coffee king this week reported that it has handled a total …
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8 December
Dwolla Looks to Make Its Mark with ‘Near Real-Time’ ACH Transactions
Payments startup Dwolla Corp. eliminated its transaction fee last week on all payments under $10, a bold move in itself, but it apparently has much bigger things in store. For one thing, the Des Moines, Iowa-based company is testing a system that co-founder Ben Milne says will make automated …
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6 December
Less Than a Month Old, ShopSavvy’s New Wallet Boasts 10,000-Plus Users
A mobile comparison-shopping app that launched a digital wallet late last month says it has signed up more than 10,000 wallet users and is adding new ones at the rate of 2,500 a week in a nascent business that has attracted major players like Google Inc. and Visa Inc. …
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6 December
A Spat over NFC Keeps Google Wallet out of Verizon’s New Smart Phone
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5 December
Vending Machine Network Gives MasterCard Debit Cards the Boot
In a marked escalation of a conflict that began when MasterCard Inc. and Visa Inc. raised small-ticket debit card interchange rates, USA Technologies Inc. has stopped accepting MasterCard debit cards in its wireless network of 100,000-plus vending machines and other unattended card-accepting locations. The Malvern, Pa.-based operator turned off MasterCard …
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2 December
Security Worries Arise As Mobile Payments Begin Their Ascent
The promise of mobile devices to generate new payment transactions and better service for bank customers comes with a big potential downside. Risk-control executives strongly believe fraudsters have their eyes on smart phones and related mobile devices, according to new research from Aite Group LLC. Asked if “mobile fraud is …
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1 December
Aiming to Jump-Start NFC with Banks, MasterCard Pours Money into mFoundry
In a move that could bring mobile payments based on near-field communication (NFC) to a wide array of financial institutions, MasterCard Inc. on Thursday announced it will provide its PayPass contactless-payment technology to mFoundry Inc., a Larkspur, Calif.-based vendor of mobile-banking software. MasterCard also invested an undisclosed sum in mFoundry, …