Digital Transactions Authoritative, insightful and timely information for payments professionals
MasterCard Inc. reportedly wants to acquire VocaLink Ltd., operator of the United Kingdom’s Faster Payments system, for just under £1 billion ($1.4 billion), according to reports in the British media Thursday. Such a deal, if consummated, could shake up the budding faster-payments movement in the U.S., where VocaLink is building …
March, 2016
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2 March
Discount Grocer Aldi Reverses Course and Now Accepts Credit Cards
The prominent, slightly self-effacing graphic on discount grocery-store chain Aldi Inc.’s home page says it all: “OMG! We FINALLY Accept Credit Cards!” Indeed, Batavia, Ill.-based Aldi is believed to be the last major grocery holdout in accepting general purpose credit cards, which typically cost merchants more to accept than the …
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1 March
8 SMB Payment Security Tips for 2016
This year brings a lot of opportunity for small and medium businesses (SMBs). The International Monetary Fund (IMF) expects world economic growth for 2016 to be somewhere around 3.6 percent – higher than the predicted 2015 growth of 3.1 percent. Unfortunately, amidst this positive backdrop lurks the negative threat posed …
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1 March
Safe Harbor Decision and Its Implication for EU Merchants
The European Commission and the US agreed on a new framework (EU-US Privacy Shield) for the transatlantic flow of data on the 2nd February 2016. So, what brought us to this point and what does it really mean for EU merchants? The so-called “Safe Harbor” agreement was made …
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1 March
The Brand Power of Apple and Samsung, Plus HCE, Are Lending Momentum to Contactless
The role of EMV in pushing tap-and-pay solutions is well known, but research released on Tuesday indicates the brand value of Apple Inc. and Samsung Electronics Co. Ltd. can’t be underestimated. At the same time, a cloud-based technology called host card emulation is also playing a role in spreading contactless …
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1 March
Cash Remains Favored Person-to-Person Payment Option Even Among Millennials
Cash, it seems, remains king, especially among younger consumers who want to use person-to-person payments. Of the 1,000 18-to-34-year-old U.S. consumers surveyed, 58% prefer cash for their P2P payments, says GoBankingRates.com, a financial-services site that conducted the online survey in January. The popularity of cash, even among Millennials, for P2P …
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1 March
Acquirers Report Varying Levels of Chargebacks in the New EMV Environment
Merchant acquirers are reporting more chargebacks now that the U.S. conversion to the EMV chip card standard is underway, but chargeback exposure varies widely by acquirer. And, so far at least, relatively few of the chargebacks are translating into actual financial losses. That’s the word from First Annapolis Consulting Inc., …
February, 2016
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29 February
Citi’s Deal To Buy the AmEx Costco Portfolio Moves a Step Closer
The cessation of the cobranded Costco Wholesale Corp. credit card issued by American Express Co. moved another step closer with Monday’s announcement that Citigroup will buy the AmEx Costco portfolio for an unspecified sum. Citi’s acquisition of the portfolio is expected to close this summer. That’s when Citi will begin to …
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26 February
Payment Card Manufacturer Sees Growing Interest in Dual-Interface Cards
The first chapter in the U.S. conversion to the EMV chip card standard is not even complete, but a leading payment card manufacturer sees growing interest in the next chapter, one that could be centered on so-called dual-interface cards that enable contact and contactless transactions. The vast majority of U.S. …
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26 February
Total Merchant Services Announces New Compensation Program
The October 1, 2015 deadline for EMV compliance has come and gone, yet many U.S. merchants have not yet upgraded to EMV terminals and cannot accept NFC payments like Apple Pay™. As the industry upgrades to new, user-friendly and secure technologies, sales partners find themselves in a great situation …