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 »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 »Visa Gets a Boost for Prepaid Partial Authorization from Shell
Nearly 4,000 gasoline stations branded by Shell Oil Co. have so far adopted a technical change from Visa USA that allows merchants to cut off delivery of a product on a prepaid card transaction as soon as the funds in the account are exhausted. Shell plans to roll out the …
Read More »Check 21, BOC Come to E-Commerce Via USA ePay-Digital EFT Deal
The payment gateway business may be consolidating, but smaller players are trying to survive by adding services to meet e-commerce merchants' demand for more diversified payment options than simply credit cards. This week, for example, Los Angeles-based USA ePay announced that it is offering Digital EFT Solutions LLC's DEFT Deposit …
Read More »Why a Small Bank Sees Big Things in College Prepaid Programs
A small Oklahoma banking company is looking to an ambitious university prepaid card deployment, which also involves contactless payment, to help it diversify a prepaid service it offers primarily to the Hispanic population. Central National Bank, Enid, Okla., is issuing PIN-based prepaid debit cards to the 10,300 students, faculty, and …
Read More »More Contactless Taxis with MasterCard-VeriFone Projects
MasterCard Worldwide announced on Thursday that taxis in New York City are accepting contactless cards in a program that will include 5,000 vehicles by December. The bank card network also said a so-far undetermined number of Las Vegas cabs will take place in a contactless pilot in Las Vegas that …
Read More »Visa Sets Interchange Penalty Under PCI: A One-Tier Downgrade
Acquirers will be penalized one interchange tier for large merchants that qualify for volume-based tiered rates and fail to show compliance with the Payment Card Industry data-security standard (PCI) by Sept. 30, Visa USA says. In a document it released earlier this month to its members, Visa clarified an interchange …
Read More »Time to Change the Weird Logic Behind Data Breaches
Data Insecurity (Editor's Note: This is the first of a 10-part series by noted electronic-payments-industry analyst Steve Mott on the current crisis in transaction security?its causes, its costs, and its possible solutions?ranging from the point of sale to the Internet to mobile commerce. After eight weekly articles, the series moves …
Read More »Turbulent Financial Seas Won’t Sink First Data Buyout, Observers Say
The $29-billion leveraged buyout of payment processor First Data Corp. will proceed as planned, a spokesperson for the huge processor says, even though the private-equity firm leading the buyout acknowledged Monday that recent market events could make its future prospects riskier. New York City-based Kohlberg Kravis Roberts & Co.'s statement …
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