News

December, 2017

• 5 December

  Two Years on, EMV Does Its Job Cutting POS Fraud, but Other Fraud Types and New Pitfalls Arise

  

  Credit and debit card fraud at the point of sale is declining precipitously two years after the payment card networks’ EMV chip card liability shifts took effect, but identity, online, and so-called fallback fraud all have risen, according to an analysis of card issuers’ experiences from Auriemma Consulting Group. New …
• 5 December

  With the Launch of Apple Pay Cash, Apple Stakes Its Claim in a Crowded P2P Business

  

  Apple Inc. on Monday officially entered an increasingly crowded arena of players looking to carve out a share of the market for person-to-person payments. Apple Pay Cash, which the Cupertino, Calif.-based tech giant first announced six months ago, went live following the release of iOS 11.2, Apple’s latest operating-system update …
• 5 December

  More Bank Investment in Real-Time Payments and other Digital Transactions News briefs from 12/5/17

  

  Finastra, a banking-technology services firm, announced PNC Bank, a unit of The PNC Financial Services Group Inc., is using its services as part of the bank’s participation in RTP, the real-time payments service from The Clearing House. Fifty-percent of U.S. banks plan to increase their investments in real-time payment systems in …
• 4 December

  Target Launches Wallet, Its RedCard-Based In-App Mobile-Payments Service

  

  Target Brands Inc. finally unveiled its long-rumored mobile-payments service. Announced Monday, Wallet resides in the Target app for iOS and Android devices. Consumers can only enroll a Target RedCard, available as a debit or credit card, in the app. Target gift card enrollment is coming, too, the company says. To …
• 4 December

  WePay Provides Volusion Payments Backbone As Chase Completes Its WePay Acquisition

  

  Payments provider WePay is officially part of JPMorgan Chase & Co., WePay announced Monday. The banking giant wasted no time putting WePay to work as the backbone of a new payments service from Volusion LLC, an e-commerce platform. Chase announced in October it was buying Redwood City, Calif.-based WePay for …
• 4 December

  Payza Now Enables Its Customers To Buy Cryptocurrency Alternatives to Bitcoin

  

  Online payment processor Payza announced Monday that its customers can now use funds in their Payza accounts buy alternatives to Bitcoin, the cryptocurrency market leader. The news comes six months after Payza launched a service enabling customers to sell so-called altcoins such as Ethereum, Ripple, Litecoin, Dash, Monero, and Zcash. …
• 4 December

  PayPal Says Its TIO Probe Found Evidence of a Breach Affecting Potentially 1.6 Million Customers

  

  PayPal Holdings Inc. and its TIO Networks unit are arranging free credit monitoring for consumers after finding evidence of a data breach at TIO that the companies say has potentially affected personally identifiable information for about 1.6 million customers of TIO’s bill-pay service. The unauthorized access could have compromised data …
• 1 December

  With a Green Light From the CFTC, Three Trading Houses Get Set for Bitcoin Futures

  

  CME Group Inc. said on Friday it will launch a futures contract for Bitcoin on Dec. 18, a move some expect will lend considerable stability to the market for the 8-year-old digital currency. Also on Friday, Chicago-based CME’s crosstown rival, Cboe Global Markets Inc., said it will announce “shortly” an …
• 1 December

  Data Breaches Have Exposed More Than 172 Million Consumer Records This Year, the ITRC Reports

  

  Fraudsters have caused 1,202 data breaches this year as of Nov. 29, up nearly 18% from the same period a year earlier, and they’ve exposed 172.4 million records, according to the latest figures from the Identity Theft Resource Center. Some 156.4 million Social Security numbers were compromised in the breaches, …
• 1 December

  First Data Completes BluePay Acquisition and other Digital Transactions News briefs from 12/1/17

  

  Processor First Data Corp. completed its previously announced, $760 million acquisition of independent sales organization BluePay Holdings Inc.  Payment-services provider Shift4 Corp. announced its EMV-certified services are now available to users of Posera Ltd.’s Maitre’D point-of-sale hospitality software. Infinite Peripherals launched the InfineaRetail Airline Edition point-of-sale suite of products. Mastercard …