News

May, 2017

• 30 May

  First Data Increases Its ISV Footprint With Its $750 Million Acquisition of CardConnect

  

  Just six months after declaring that it intended to become a player in the independent software vendor (ISV) payments space, processor First Data Corp. late Monday said it has a deal to buy a prominent ISV, CardConnect Corp., for $750 million. “CardConnect has been investing in technology, dedicated sales, and specialized …
• 30 May

  Breach Confirmed at Most Chipotle Locations and other Digital Transactions News briefs

  • PayRange Inc., which specializes in mobile payments for vending machines, has extended its service to coin-operated laundry machines. The service is available for Speed Queen and Maytag machines, with other makes to come, the company said. • Quick-serve restaurant chain Chipotle Mexican Grill Inc. updated consumers about a breach of its point-of-sale system …
• 26 May

  Chip Card Shipments Top 2.1 Billion in 2016 But Show Signs of Leveling off in U.S., China

  

  Global shipments of chip cards surpassed 2.1 billion in 2016, a 4% increase from 2015, says the Smart Payment Association. “Following significant EMV rollout programs in the United States and China, 2016 saw shipment volumes begin to normalize to reflect growing market maturity in most major global markets,” said Sylvie …
• 26 May

  From the Wreckage of the Durbin Repeal Effort, Will ‘Son of Repeal’ Emerge?

  

  The decision to strip repeal of the Durbin Amendment from a Dodd-Frank overhaul bill puts a brake on the movement to get rid of the amendment’s debit card rules, but that may not necessarily be the end of the matter. Leading advocates for repeal vow to keep fighting, while a …
• 26 May

  Payment-Security Firms ControlScan and EchoSat Announce Merger

  

  Two prominent names in payment card security, ControlScan Inc. and EchoSat Inc., announced Thursday that they will merge. The combined companies, to operate under the ControlScan name, will service more than 775,000 card-accepting merchants across North America. ControlScan works with merchant acquirers and payment processors to provide merchants with a …
• 26 May

  NAB CEO Offers Details on TMS Acquisition and other Digital Transactions News briefs

  • North American Bancard Holdings Inc. and Total Merchant Services Inc. will retain their unique brands and products in the immediate future following NAB’s acquisition of TMS, said NAB chief executive Marc Gardner. NAB announced the TMS acquisition last week. “The TMS brand will remain intact, its sales staff remains as …
• 26 May

  ‘Passive’ Biometrics Set To Take an Active Role in Payment Fraud Control

  

  With little fanfare, so-called behavioral biometrics began appearing on the radar screens of payment card security executives about two years ago. Now, however, experts predict behavioral biometrics will assume a more prominent role in protecting payment transactions as e-commerce and mobile commerce continue gaining share of retail sales and the …
• 25 May

  Fraud Costs Rise for Merchants, Especially on the International E-Commerce Side

  

  Merchants’ actual fraud costs are up for the third year in a row and their total fraud-related expenses also are rising, according to the latest True Cost of Fraud study from LexisNexis Risk Solutions. Fraud as a percentage of the revenues reported by the 653 retailer risk-control executives surveyed for …
• 25 May

  Shift4 Founders Make a Shift and other Digital Transactions News briefs

  • Phillips 66 Co. moved closer to the launch of its mobile-payments service for fuel purchases with the unveiling of its mobile-commerce platform developed in conjunction with P97 Networks Inc. and JPMorgan Chase & Co.’s Chase Pay. • Payment gateway Shift4 Corp. announced its cofounders, J. David Oder and Katherine Oder, are entering …
• 24 May

  Mobile and Online Risk Control May Need To Go Their Separate Ways

  

  With e-commerce taking an ever-greater share of total retail sales and mobile commerce accounting for an ever-greater share of e-commerce, merchants need to start treating m-commerce fraud control as more than a subset of online fraud control. That was the word Tuesday from Susan Pandy, the director of payment strategies …