Digital Transactions Authoritative, insightful and timely information for payments professionals
• Merchant processor Square Inc. settled a lawsuit filed by a Washington University professor, Robert E. Morley, who said he invented Square’s card reader for smart phones. Terms of the settlement were not disclosed, but Square set aside $50 million in the first quarter to cover legal expenses from the …
Read More »Mobile, Breaches, Gift Cards, In-Store Pickup Among Trends Driving Online Fraud
Forecasters have long predicted that the U.S. payments market’s move to EMV chip cards for in-person transactions will drive criminals into e-commerce fraud. Now data is emerging to show the nuances these fraudsters are exploiting, and how the rise in online fraud is hardly limited to the U.S. market. In …
Read More »Apple Pay Will Come to the Web Later This Year—But Only for Safari Browsers
Apple Inc. is bringing its Apple Pay service, originally restricted to apps and the Apple mobile wallet, to e-commerce sites on the Web. Apple Pay on the Web will be available this fall as part of the iOS 10 mobile and macOS desktop software updates. “We wanted to bring the …
Read More »Cardtronics Secures More CTA Locations and other Digital Transactions News briefs
• ATM deployer Cardtronics Inc. reached a new agreement with the Chicago Transit Authority under which it will place almost 40 new ATMs at CTA passenger stations, replacing machines already at those stations, and install more machines at additional stations. The move, which expands on an agreement reached with the …
Read More »A Deal With Shell Boosts Chase Pay, But the Challenge of Consumer Usage Remains
JPMorgan Chase & Co. is lining up the necessary elements for its Chase Pay mobile service. The bank announced Thursday that more than 14,000 Shell Oil Co. locations potentially could accept the nascent mobile wallet. Chase shared few details, such as when Chase Pay might be accepted at Shell stations, …
Read More »How Account Takeovers Complicate the Battle to Control Fraud on Mobile Wallets
Issuers contending with payment card fraud will have to factor in mobile wallets, especially as the battle to thwart account takeovers intensifies. A majority of issuers—56%—said they cannot further reduce account takeovers without hurting the customer experience, according to a card-issuer fraud study released recently by LexisNexis Risk Solutions and …
Read More »Following Its Decision to Put off a Rollout, MCX to Shut Down Its CurrentC Pilot on June 28
When the Merchant Customer Exchange LLC announced last month it is postponing a rollout of its CurrentC pilot in Columbus, Ohio, observers suspected the news did not bode well for the merchant-controlled mobile wallet. On Monday, those suspicions were confirmed as MCX told CurrentC account holders in an email that …
Read More »Durbin’s Latest Salvo Challenges a New Visa Fee, But Visa Says It Has Dropped It
Sen. Richard Durbin, D-Ill., the author of the fee-capping Durbin Amendment, is well-known as a champion of merchants, but now he’s taking up the cause of small banks and credit unions. Durbin on Tuesday sent a letter to Visa Inc. chief executive Charles Scharf asking for information about a new …
Read More »Payments Veteran Khan Says His New Wallet, OmnyPay, Is Nearing Its Retailer Launch
Mobile-wallet provider OmnyPay Inc. is nearing the launch of its white-label service, which includes payments, loyalty, and offers, with a top 30 U.S. retailer. The debut is expected within the next few months. That’s the word from Mohammad Khan, OmnyPay president and cofounder, in an interview with Digital Transactions News. …
Read More »Consumers Want Mobile Payments Everywhere, Survey Finds
Just as consumers have become accustomed to using their credit and debit cards across multiple shopping channels, so too are many expecting the digitized, and mobilized, versions of these cards to mimic that experience. That finding, from 451 Research LLC’s “Mobile Pay and Commerce Advisory Report,” suggests that early adopters …
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