Digital Transactions Authoritative, insightful and timely information for payments professionals
As card data breaches continue to garner headlines, retailers may suffer the most in the eyes of U.S. consumers. Some 63% of consumers say merchants do the least to protect credit and debit card information, compared with 16% who say this about transaction processors and 5% who say Visa and …
Read More »Adding QuikTrip, Tempo Payments Pumps Up Its Issuing Ranks
Tempo Payments Inc., the PIN-debit alternative network for retailers, has signed another large gas-station/convenience-store chain to its issuing ranks. Tulsa, Okla.-based QuikTrip Corp. will offer a rewards card program in a phased rollout beginning in the second quarter involving 50 stores in an unspecified market, Tempo announced this week. Privately …
Read More »Survey: Mass Reissuance May Be Overkill in Merchant Breach Cases
A recent survey indicates debit card issuers may be overreacting to database breaches that compromise card data held by merchants. Nine out of 10 debit card issuers have received notice in the last few years that their cards could have been compromised in a breach, and of these, some 87% …
Read More »Visa Chief Lays out Prepaid Plan, Calls for Outreach to Regulators
Visa USA's chief executive on Wednesday outlined a multimarket strategy for prepaid cards, while announcing that convenience-store titan 7-Eleven Inc. has joined Visa's fledgling prepaid reload network and calling for greater efforts to educate regulators about the unique characteristics of prepaid plastic. “There's an incredible opportunity [in the prepaid market],” …
Read More »Police Arrest Four in Stop & Shop Breach As Legislation Looms
Hackers frequently go free, but Coventry, R.I., police late Monday night arrested four California men suspected in the recent theft of debit and credit card data from PIN pads at grocery-store chain Stop & Shop Supermarket Cos. While the arrests are certainly good news to Stop & Shop and banks, …
Read More »TJX Reports Wider Breach, But No Data on Affected Accounts
Off-price retailer TJX Cos. Inc. on Wednesday divulged more information about the intrusion into its computer network that contained credit and debit card data, but one piece of information still eludes public disclosure: the actual number of accounts compromised. Earlier estimates put the figure as high as 40 million (Digital …
Read More »Stop & Shop’s PIN Pad Breach Follows Similar Cases in Canada
Although many details remain unclear, a security breach at a big supermarket chain in the Northeast bears some resemblance to a sophisticated rigging of point-of-sale equipment to capture PINs and other card data last year in Canada. Quincy, Mass.-based Stop & Shop Supermarket Cos., which has 385 stores in New …
Read More »The Illogical Battle Between PIN Debit And Signature Debit
10 Tipping Points for the Payments Industry Part 7 Bubbling like a witch's cauldron in the heart of the electronic payments industry's turmoil over signature cards is the strange and self-destructive contention between the two primary ways of getting funds out of your checking accounts with a bank card. Banks …
Read More »Some Small Towns Loom Large in Latest ID Fraud Research
Merchants, card issuers, utilities, e-commerce operators, and other businesses looking to guard against identity fraud may want to take a closer look at applications coming from Floral Park, Queens, a part of New York City. They may also need to scrutinize new customers from Faulkton, S.D., population 800. That's because …
Read More »Long-Time Credit Card Exec Saunders Takes over Embryonic Visa Inc.
Credit card industry veteran Joseph W, Saunders has resigned his position as president of card services at Washington Mutual Inc. to become executive chairman of Visa Inc., the entity Visa announced last fall as the planned publicly held company embodying all of its worldwide operating divisions except that for Europe …
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