News

May, 2017

• 3 May

  The Demanding Consumer: Payments Expectations Rising Fast, Adyen Survey Shows

  

  In-store shopping isn’t going anywhere. That’s the finding of a survey from online processor Adyen. That’s especially true for pre- and post-purchase needs. And it’s just one sign of how much more demanding consumers are becoming when it comes to payments and related transactions. Eighty-six percent of consumers want to …
• 2 May

  Savvier Techniques Help Criminals Loot More Victims Through Call-Center Fraud

  

  Call centers remain a prime target for criminals looking to perpetrate fraud. In 2016, call-center fraud jumped 113% from 2015, according to Atlanta-based Pindrop Labs’ annual Call Center Fraud Report. Fraudulent activity took place with one in every 937 call-center calls, compared to one in 2,000 calls in 2015“With tools …
• 2 May

  Mastercard’s Transactions Grow 17%, Partly Because of More U.S. PIN-Debit Volume

  

  Mastercard Inc. reported Tuesday that it switched nearly 17% more transactions in the first quarter than it did a year earlier. Most of the growth came from overseas, but some of it resulted from more U.S. PIN-debit volume, company executives said. Purchase, N.Y.-based Mastercard said it switched 14.7 billion transactions …
• 2 May

  First Data and Flywire Team Up and other Digital Transactions News briefs

  • Processing giant First Data Corp. and cross-border payments specialist Flywire Corp. announced a collaboration by which Flywire education and health-care clients will be able to more easily accept cross-border card payments and First Data clients will be able to more readily accept high-value international remittances. • Gro Solutions, a vendor of digital solutions …
• 1 May

  Chip Cards Aren’t on the Menu

  

  Restaurants have been slow to bite on EMV. To get adoption percolating, vendors are introducing methods that let customers add a tip after making a payment or pay with tabletop devices. Paying with EMV cards has been an adjustment for the average U.S. consumer. Cards are no longer swiped. They …
• 1 May

  Why Big Banks Shouldn’t Own the Road to Faster Payments

  

  The same U.S. banks that have retarded progress in digital payments shouldn’t be entrusted with anything approaching a monopoly on implementing real-time payments systems, says Mark Horwedel. Lately, the Federal Reserve Board has been shepherding a cross-industry effort to build a faster, more efficient, and more secure payments system in …
• 1 May

  EMV in the United States: A Post Mortem

  

  The global chip card standard known as EMV became a reality for U.S merchants, acquirers, and issuers in October 2015. That’s when the liability for counterfeit card transactions at the point of sale shifted, by network rules, from issuers to merchants if the merchants weren’t prepared to accept EMV cards. …
• 1 May

  The Top-Heavy Acquiring Industry

  

  Consulting firm The Strawhecker Group is out with its 2016 rankings of U.S. merchant acquirers, and they show that 240 acquirers and independent sales organizations processed more than $5 trillion in payment volume. The 10 biggest acquirers accounted for 80% of that volume. Topping the list is JPMorgan Chase & …
• 1 May

  Slow on the Uptake for Faster Payments

  

  The subject of faster payments has been in the news almost continually for months now, but apparently awareness of the subject, and in some cases adoption, remains lower than expected among the financial institutions that will be depended on to implement speedier settlement. That’s if survey results released in April …
• 1 May

  The IoT Challenge: Securing Devices Without Impeding Usage

  

  With a forecast of 15 billion new devices as part of the Internet of Things potentially coming online as payments devices by 2021, securing these devices, whether they are cars, wearables, or appliances, is emerging as a top concern. “We are seeing a huge increase in inadequately protected devices,” Graeme …