Digital Transactions Authoritative, insightful and timely information for payments professionals
Assurz Inc., which this week signed up its biggest merchant so far for its transaction-guarantee service, expects to have about 10 large merchants and between 20 and 30 smaller ones on its client roster by year's end, according to Steve Hoffman, chief executive of the Redwood City, Calif.-based startup, which …
Read More »TJX Settlement Leaves the Bigger Card-Security Issues Unsettled
Off-price retailer TJX Cos. Inc. late Friday announced it had settled the consumer class-action lawsuits it faced in the wake of a security breach that compromised nearly 46 million payment card records in its computers, but big-picture issues facing card networks, processors, and merchants about the best ways to enhance …
Read More »When It Comes to Online Security, It’s All About the Money
Data Insecurity Part 6 The electronic payments industry's continued prowess in holding fraud in check despite the mounting scourges afflicting online transacting is all the more remarkable when you consider that the banking industry, whose fundamental business is risk management, is largely a no-show in this channel. Merchants and their …
Read More »Survey: 42% of Consumers Ditch Online Transactions After a Glitch
Evidence emerged again this week that Web-site breakdowns are causing more broken transactions online than e-commerce managers might suspect. Indeed, the proportion of consumers who report having had a problem completing an online transaction has remained little changed over the past three years at around 90%, while the fraction that …
Read More »Phishing Attacks Nearly Hit an All-Time High in June, Report Says
Phishing fraudsters were exceptionally busy in June, with a near-record number of unique online attacks hitting consumers' PCs during the month, according to the latest report from the Anti-Phishing Working Group, which tracks the fraud. The group recorded 28,888 unique phishing reports, up 23% from May and just shy of …
Read More »Discover Expands Its Gift Card Franchise Through a Big Mall Operator
Discover Financial Services LLC for the first time is selling its gift card to non-Discover customers and at retail locations through a new agreement with Chicago-based General Growth Properties Inc., the nation's second-largest regional shopping mall developer and manager. Under the program, consumers will be able to buy Discover gift …
Read More »Seeking More Revenue, Big Banks Get Set to Roll out 11th-Hour Bill Pay
Financial institutions seem likely to give expedited bill payments a big boost in the coming two years, according to survey results released today by Boston-based Aite Group LLC. In a March survey of 22 of the nation's top 100 banks, credit unions, and thrifts ranked by number of checking accounts, …
Read More »Prepaid Eyes the Potential in Consumer Rebates And Incentives
In a move that could give the market for network-branded prepaid cards a big boost, Parago Inc. has launched a campaign to move its clients from checks to one-time-use cards for rebates and cash incentives. The Dallas-based company, which manages consumer rebate and rewards programs for corporations, hopes to have …
Read More »‘Biggest Thing Since PayPal,’ Cap One Card Bids for Debit Share
A new Capital One Financial Corp. MasterCard debit card that Cap One can market nationwide like a credit card has the potential to vault the financial-services company into the top ranks of debit card issuers and help MasterCard Worldwide swipe debit market share from Visa USA, the payments expert who …
Read More »PayPal Mobile Services Get Major Boost in Internet Retailing
DVD Empire is among the first of what will apparently be a series of Internet merchants this summer to adopt a new payments service offered by PayPal Mobile. The Warrendale, Pa.-based online seller of DVDs is going live with a Wireless Application Protocol (WAP) site for mobile phones, with payments …
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