Digital Transactions Authoritative, insightful and timely information for payments professionals
The Western Union Co. early next year will start allowing money transfers via Mastercard Send, a service that allows people to send money within seconds from a debit card to another person’s debit card, including non-Mastercard cards. Senders can also fund transfers with credit cards or bank accounts, but must …
October, 2017
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24 October
Americans’ ‘Password Hygiene’ Is Getting Worse, International Study Finds
Despite non-stop news reports about data breaches, Americans over the past year have gotten sloppier about their usage of passwords to protect their financial accounts online. That’s the word from research firm Aite Group LLC and Visa Inc., which recently announced results of their second annual Global Security Engagement Scorecard …
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24 October
First Data Adds UnionPay Acceptance and other Digital Transactions News briefs from 10/23/17
Facebook Inc. has joined Visa Inc.’s Digital Enablement Program, giving the social-networking giant access to tokenization services globally. First Data Corp. said it will add UnionPay International acceptance to its merchant network, enabling UnionPay cardholders traveling as tourists in the United States to use their cards in stores and online. Eventually, …
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23 October
U.S. Consumers’ Coolness to Mobile Spurs Payments Execs to Ponder Causes
Mobile payments in the United States haven’t grown as fast as program sponsors had thought they would, and now the industry is looking at what the reasons might be. After all, the payment method is positioned to consumers as a faster, easier, more secure alternative to cards, and one that …
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23 October
Joe Kaplan Moves to Sage and other Digital Transactions News briefs from 10/23/17
Private-equity firm GTCR, which bought Sage Payment Solutions in August from its British parent company The Sage Group plc, appointed veteran independent sales organization executive Joe Kaplan as chief executive of the merchant processor, and also announced that it would invest $350 million to support Sage. Kaplan is the former …
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23 October
Zelle Notes 60 Million P2P Payments in the Third Quarter
Zelle, the bank-backed person-to-person payments network, says a daily average of 65,000 consumers enrolled in the service in the third quarter, helping to push its volume to more than 60 million P2P payments valued at $17.5 billion. Zelle, which is owned by Early Warning Services LLC, says more than 50 …
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23 October
Merchants in a Quandary Balancing Fraud Reduction and Higher Transaction Volume: Report
Almost as many merchants—65%—seek to increase transaction volumes by reducing identity verification thresholds as do those—74%—that try to reduce fraudulent transactions through more effective verification methods. That quandary surfaced in the “Lost in Transaction Vol. II” report released Thursday by Paysafe Group plc. With a focus on fraud, including consumer …
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22 October
Apple Lays Out an Ambition to Capture More ‘Everyday’ Spend for Apple Pay
Marking Apple Pay’s third anniversary, an Apple Inc. executive Sunday night outlined an ambition to make the wallet usable in a wide range of what the company calls “everyday” events in people’s lives. “This [Apple Pay] is the future of everyday spend,” declared Jennifer Bailey, vice president for Internet services …
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19 October
Tokenization Gets a Boost as The Clearing House Signs on To Manage Mastercard Tokens
The Clearing House, a major player in U.S. payments, is getting deeper into the tokenization business through a new pact with Mastercard Inc. New York City-based The Clearing House and Mastercard announced Thursday that TCH has become a Mastercard-certified third-party Token Service Provider (TSP). As such, TCH will be able …
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19 October
While Lauding a Strong Quarter, PayPal Brass Looks to ‘Monetize’ Venmo And Launch NFC
With Venmo accounting for a swiftly growing share of PayPal’s total payment volume, the company’s top brass left no doubt on Thursday they are eager to start making the peer-to-peer payment service start paying its way. “We [now] begin to monetize Venmo,” PayPal chief executive Dan Schulman told equity analysts …