Thursday , November 14, 2019

Debit Cards

PCI Compliance Drops for the Second Year in a Row, Verizon Reports

Compliance with the Payment Card Industry data-security standard remains an elusive goal for many merchants and other organizations that handle general-purpose payment card data. In fact, compliance fell in 2018 for the second year in a row, according to Verizon Communications Inc. Verizon’s newly released Payment Security Report says only …

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Facebook Pay Could Dominate Facebook’s Apps, But That’s Not Likely to Stymie Rival Wallets

With Facebook Inc.’s launch Tuesday of Facebook Pay, the social-media giant may feel somewhat assured that many of its 1.6 billion daily users will at least try the new wallet when making purchases in one of the company’s social networks. But that does not mean the rest of the payments …

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Boost in Chase Deal and other Digital Transactions News briefs from 11/13/19

Boost Payment Solutions Inc., an acquirer for commercial card transactions, said it is collaborating with JPMorgan Chase & Co. to process payments and automate delivery for Chase’s Single Use Card Accounts and other commercial cards.Cardlytics Inc., which derives marketing intelligence from purchase data, reported a 116% year-over-year increase in monthly …

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Big Retailers Anticipate FedNow Will Bring Competition to Payments

A retail trade association as well as Target Corp. have endorsed the Federal Reserve’s planned FedNow real-time gross settlement service. In a letter posted last week on the official FedNow comment site, the Washington, D.C.-based Retail Industry Leaders Association said “over the past decades RILA has seen competition and innovation …

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U.S. Holiday Sales Could Top $1 Trillion, With Mobile Payments Growing 32%

Research firm eMarketer Inc. forecasted that 2019 U.S. holiday sales will surpass $1 trillion in value for the first time. Cyber Monday, the Monday following Thanksgiving, is expected to be the biggest online shopping day and could approach $10 billion in sales. With Thanksgiving falling on the last Thursday of …

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In a New Marketing Push, Green Dot Enlists Ellen DeGeneres

Prepaid-program manager Green Dot Corp. will launch a marketing campaign with talk-show host and comedian Ellen DeGeneres. DeGeneres’s celebrity will be used to promote Green Dot Bank, Steve Streit, Green Dot founder and chief executive, said during a conference call with analysts Thursday. DeGeneres is host of the popular TV …

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COMMENTARY: AP And Treasury Need To Work Better Together. Here’s How

Finance departments contain many functions that don’t always work together as well as they should. That’s especially true of Accounts Payable and Treasury. You’d think they’d work more effectively together as teams that both control the flow of funds for an organization, but in my experience, that’s rare. That lack …

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Final Arguments Heard in MDL 1720 Interchange Suit and other Digital Transactions News briefs from 11/8/19

U.S. District Judge Margo K. Brodie heard final arguments from lawyers Thursday on the fairness of a proposed settlement in the 14-year-old MDL 1720 credit card interchange case but, as attorneys involved in the case said was probable, did not make an immediate determination from the bench. Brodie in January gave preliminary …

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USAA Wins $200 Million RDC Lawsuit and other Digital Transactions News briefs from 11/7/19

A U.S. District Court jury in Marshall, Texas, awarded USAA $200 million in damages after finding that Wells Fargo & Co. infringed on two patents held by USAA related to mobile check deposit. USAA filed the suit in June 2018. USAA in August 2018 filed a separate suit in the same court against Wells …

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A Fast-Growing Cash App Highlights How Square Leverages Its Consumer And Merchant Sides

If Square Inc. has made one thing clear in recent months, it’s that the company is determined to tie together two worlds most payments companies see as distinct: consumers on the one hand, and merchants on the other. That strategy took another step forward last month with Square’s announcement that …

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