Digital Transactions Authoritative, insightful and timely information for payments professionals
Mallory Duncan, senior vice president and general counsel of the National Retail Federation and one of the most outspoken advocates for merchants on payments issues, announced Thursday that he will retire at the end of August. “Whether you’re appealing to the Supreme Court, testifying before Congress or meeting at the …
June, 2017
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21 June
GlobalOnePay Expands UnionPay Service and other Digital Transactions News briefs
• Payment technology provider VeriFone Systems Inc. said it has integrated with the AirportConnect Common Use Payment Service from SITA, the big information-technology and communications specialist serving the air-transport industry, to bring electronic payment acceptance for multiple airlines and ground handlers at airport check-in desks, kiosks and bag drops via a …
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20 June
Despite Advances, Security Woes Darken Consumer Attitudes About E-Commerce
A new survey from American Express Co. finds that 37% of consumers abandoned an online purchase because they have concerns about the security of the transaction. The 2017 American Express Digital Payments Survey, released Tuesday, also finds that, despite these concerns, 47% of consumers increased their e-commerce purchasing frequency in …
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20 June
Choke Point Figure Moves On and other Digital Transactions News briefs
• Juniper Research released a study estimating retailers globally will sustain $71 billion in card-not-present fraud over the next five years. The firm cites the U.S. move to EMV and “delays” in the arrival of the 3D Secure 2.0 protocol among the reasons for the forecasted losses. • Michael S. Blume, …
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20 June
Hackers Find Fertile Ground in North America and in Stores, Trustwave Reports
By Jim Daly@DTPaymentNews North America remains by far the source of most data breaches investigated by Trustwave Holdings Inc., a big security-services and technology provider that operates worldwide, and the retail industry takes the lead in breaches despite the coming of EMV chip card payments to the U.S. Those are …
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20 June
Eyeing Hotter P2P Competition, PayPal Enables Instant Transfers to Users’ Bank Accounts
By John Stewart@DTPaymentNews PayPal Holdings Inc. on Tuesday cranked up the heat on a person-to-person payments market that’s already close to full boil. In a blog post on PayPal’s site, PayPal chief operating officer Bill Ready announced the company has started testing instant transfers from users’ PayPal wallets to their …
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19 June
With Its Deal for Whole Foods, Amazon Could Usher in Seismic Change for the Checkout
By John Stewart @DTPaymentNews If Amazon.com Inc.’s $13.7 billion acquisition of Whole Foods Market Inc. closes later this year as expected, it could set the stage for a radical redefinition not just of in-store payments, but of the checkout experience itself, observers say. The deal, which Amazon announced late last …
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19 June
Chargebacks Tied to EMV Transition and other Digital Transactions News briefs
• PNC Bank N.A. said its Visa commercial cardholders can use their cards in Apple Pay and Samsung Pay, a move that PNC said makes it one of the first U.S. banks to enable mobile wallet payments for its commercial cards. • A survey from Vesta Corp. found that 62% of 155 …
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19 June
Apple Makes an Offers Ploy To Drive Apple Pay Use
By Kevin Woodward@DTPaymentNews Apple Inc. is sponsoring its first known offers promotion for Apple Pay users with deals available June 23-25 in two San Francisco neighborhoods. Dubbed “Lose your wallet” on Apple’s Web site, the promotion includes a percentage off the purchase or a free item with a purchase. The …
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19 June
COMMENTARY: Is Open Banking the Beginning of the End for Payment Networks?
By Rick Oglesby and Brad Margol A 2015 European Parliament regulation, EU2015/751, caps the fees that a European cardholder’s bank may charge a merchant’s bank (interchange fees) at 0.2% for debit cards and 0.3% for credit cards. Also passed in 2015, and ramping up to full effect in January of …
