February 5, 2020
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, Digital Currency, E-Commerce, Fraud & Security, Law and Regulation, Marketing, Mobile Commerce, Mobile Wallets, Point-of-sale, Pricing, Transaction Processing
Australian financial regulators might intervene to stop banks from automatically routing contactless debit card payments to the Visa and Mastercard networks and instead give merchants the option of using the country’s EFTPOS network, Reuters reported.RevSpring Financial Services, a provider of collections-support services for health-care firms and other companies, debuted eVokePay, a payment …
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February 4, 2020
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, E-Commerce, Issuing/Originating, Law and Regulation, Mobile Commerce, Point-of-sale, Pricing, Transaction Processing
Visa Inc. reportedly is planning interchange rate changes that could raise merchants’ acceptance costs for card-not-present transactions but lower costs in some other categories, including purchases at big grocery-store chains. Citing a Visa document circulating among the network’s client banks, the Bloomberg news service reported Tuesday that interchange for a …
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February 4, 2020
Acquiring, Competitive Strategies, E-Commerce, Law and Regulation, Mobile Commerce, Mobile Wallets, Transaction Processing
One often overlooked market for mobile payments is sports betting, and now some payments providers are wagering that the segment is about to get hot with the ongoing rollout of 5G mobile-network connectivity. “We would urge sports-betting operators to be ready for the increased traffic on their platforms. It’s a …
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January 31, 2020
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, E-Commerce, Electronic Checks, Fraud & Security, Law and Regulation, Marketing, Point-of-sale, Remote Deposit Capture, Transaction Processing
Small businesses using Square Inc. will be able to use turnkey UPS shipping services integrated into Square Online Store, the acquirer’s e-commerce platform, UPS announced. The Square-UPS deal includes special shipping rates that could be up to 55% off UPS daily rates.Amazon.com Inc. reported it now has more than 150 million Prime members …
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January 30, 2020
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, E-Commerce, Issuing/Originating, Law and Regulation, Mobile Commerce, Mobile Wallets, Near-Field Communication (NFC), Point-of-sale, Transaction Processing
The U.S. House of Representatives’ Task Force on Financial Technology held a hearing Thursday morning titled “Is Cash Still King? Reviewing the Rise of Mobile Payments.” Witnesses included representatives from PayPal, the U.S. Faster Payments Council, the Brookings Institute, Consumer Reports, and a New York City non-profit dedicated to financial …
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January 27, 2020
Credit Cards, Debit Cards, Digital Currency, Fraud & Security, Law and Regulation, Transaction Processing
The criminals behind ransomware attacks are becoming dramatically bolder. The average payment demanded in fourth-quarter attacks reached $84,116, more than double the average sum in the third quarter, according to the latest data from Coveware Inc., a Westport, Conn.-based cybersecurity firm that tracks data from cases it has handled. Worse …
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January 24, 2020
Acquiring, Competitive Strategies, Credit Cards, Debit Cards, E-Commerce, Law and Regulation, Near-Field Communication (NFC), Point-of-sale, Transaction Processing
New York City became the third U.S. city to ban cashless-only payments in restaurants and stores with the passage Thursday of a measure to prohibit merchants from refusing to accept cash. San Francisco and Philadelphia have similar bans, as does the state of New Jersey. Originally proposed by New York …
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January 23, 2020
Automated Clearing House, Competitive Strategies, Electronic Bill Payment, Electronic Checks, Featured, Issuing/Originating, Law and Regulation, Transaction Processing
The Clearing House Payments Co. LLC, operator of the Real Time Payments network, said Thursday that it will raise the RTP transaction limit from the current $25,000 to $100,000 effective Feb. 1. Steve Ledford, TCH senior vice president of product strategy and development, tells Digital Transactions News the limit is …
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January 22, 2020
Acquiring, Debit Cards, Fraud & Security, Law and Regulation, Point-of-sale, Transaction Processing
Payment firms that are used to choosing which PIN standard to audit against now have a much simpler choice. The Accredited Standards Committee X9 Inc. and the PCI Security Standards Council have created a unified PIN Security Standard, replacing separate ones each organization previously maintained. The consolidation, announced Tuesday, should …
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January 20, 2020
Credit Cards, Debit Cards, E-Commerce, Fraud & Security, Issuing/Originating, Law and Regulation, Transaction Processing
Federal and European law-enforcement agencies last week seized the domain of WeLeakInfo.com, an online site that allegedly held 12 billion stolen records from 10,000 data breaches. The now-shuttered site’s data included names, email addresses, usernames, phone numbers, and passwords for online accounts, according to a news release from the FBI …
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