Acquiring

By Kevin Woodward Encryption technologies, which mask sensitive card data with mathematically derived characters and numbers, appear to be the security method that resonates best with merchants. That’s the result of a Digital Transactions News survey that asked about EMV, tokenization, and encryption. Forty-five percent of respondents cited encryption, followed …

As I see it, there are three main areas of vulnerability for merchant cash-advance (MCA) providers: 1. Incorrectly assessing the risk. What systems do you have in place for being able to analyze and manage your risk? Many MCA funders come into the market with six months’ runway and then …

Processor Global Payments Inc. says it will offer American Express Co.’s OptBlue merchant-acceptance program to its Canadian merchants beginning June 24. Participation in OptBlue enables merchant acquirers and independent sales organizations to offer AmEx acceptance to small businesses and set the pricing through a one-stop-shopping option when they sell acceptance …

Merchant processor Vantiv Inc. has won one of the biggest retail merchant-processing contracts out there—the U.S. Postal Service’s credit and debit card business, including its USPS.com online component. Counting post offices, branches and substations, the Postal Service has more than 35,000 retail outlets in all 50 states, U.S. territories and …

With no exemptions for small merchants from the Oct. 1 liability shift for EMV transactions, efforts to educate them are well under way, with even the largest of banks instructing them on what EMV means for their businesses. “It’s more of an industry message,” says Deanna Karhuniemi, vice president of …

By Dan Leberman Every business owner needs to process customer payments, but selecting a payment processor can be very confusing. To make the selection simpler, get started by identifying and prioritizing the most important factors for your business. Based on PayPal’s own best practices, here are top considerations for every …

Merchant attrition fell to 21% in 2014, down from 22% in 2013, reflecting continuing merchant use of specialty point-of-sale software that helps them run their businesses in addition to enabling payment acceptance, finds a report from Adil Consulting. The report, “Merchant Attrition: Strategies, Tactics, Best Practices & Industry Benchmarking,” examines …

Sales in VeriFone Systems Inc.’s North America region jumped 54% in the quarter ended April 30 to $193 million from $125.3 million a year earlier, the payment-processing equipment maker reported Thursday. The big driver was the conversion of U.S. merchants’ point-of-sale terminals ahead of an October deadline for the devices …

Four computers containing Social Security and bank-account numbers for an estimated 2,200 individuals have been stolen from a California office of merchant processor Heartland Payment Systems Inc.’s payroll-processing division, Heartland reported Monday. Also on Monday the PCI Security Standards Council updated its rules governing payment card software. And in other …

Already found liable for its role in a telemarketing scheme that defrauded consumers, Universal Processing Services of Wisconsin LLC, doing business as Newtek Merchant Solutions, now will have to pay its share of a $1.7 million fine, a U.S. District Court judge ruled last week. The Federal Trade Commission in …