Digital Transactions Authoritative, insightful and timely information for payments professionals
With a forecast of 15 billion new devices as part of the Internet of Things potentially coming online as payments devices by 2021, securing these devices, whether they are cars, wearables, or appliances, is emerging as a top concern. “We are seeing a huge increase in inadequately protected devices,” Graeme …
May, 2017
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1 May
Chuck Your Password
“What?!” That’s the mildest reaction I get from my clients when I dispense the advice encapsulated in the title of this month’s column. “A password I remember I don’t need to write down, so it cannot be pilfered,” says the incredulous client. “Not so,” I reply, and people are not …
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1 May
ACQUIRERS TARGET DIGITAL MARKETING
Savvy execs look beyond payment processing for earnings growth. Text Receipts are a natural starting point. Credit card processing has long been a commodity business in the United States. Just as in other markets, large merchants have unbeatable pricing and it’s the small and medium sized businesses, or “SMBs”, who …
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1 May
Should Fintech Be Regulated?
If you want to see a rowdy debate, try gathering a group of colleagues and posing the question of whether or not fintech companies should be regulated. In posing this question to several groups of payments professionals, I have observed that the same arguments, pro and con, keep coming up. …
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1 May
THE NOT-SO-FRIENDLY WORLD OF FRIENDLY FRAUD
By Jacob Bennett, ETA CPP It’s important to understand the significance of friendly fraud, the damage it can cause, and how merchants can avoid it. Friendly fraud. The name is misleading as there’s really nothing “friendly” about it. Friendly fraud is a type of chargeback in which a customer …
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1 May
Worldpay Declares Its Network Quick Chip Ready
Quick Chip, a Visa Inc. protocol for streamlining the EMV transaction process, is now available on processor Worldpay’s network. Announced Monday, the service reduces a chip card terminal’s transaction time by approximately 3 seconds, Worldpay says. Quick Chip eliminates the need to leave the card in the reader while waiting …
April, 2017
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28 April
Apple P2P Payments Rumors Surface Again and other Digital Transactions News briefs
• Apple Inc. is once again talking to payments-industry players about launching a person-to-person payment service, according to a report on Recode.net, which cited “multiple sources familiar with the talks.” The sources say the service would allow iPhone users to send money to each other. Recode also reports Apple is talking to …
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27 April
Financial Institutions Still Looking for Legal Certainty as the Cannabis Industry Grows
Whatever their personal feelings are about marijuana usage, the growth of the legal cannabis industry in many states will force bankers and payments executives to examine the business prospects of serving that industry, according to an executive with a regional automated clearing house association. While marijuana remains illegal under federal …
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27 April
Dwolla’s Tokenized ACH Move and other Digital Transactions News briefs
• Opponents and proponents of repealing debit card interchange controls known as the Durbin Amendment prepared for a hearing on the Financial CHOICE Act Thursday with dueling press releases. The National Retail Federation, as reported earlier this week by Digital Transactions News, led a meeting of retailers interested in keeping the …
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27 April
How the EMV-Fueled Shift of Fraud Online Is Generating Headwinds for Airlines
Merchants and card issuers have been hearing for several years that the advent of EMV chip cards at the point of sale in the United States would drive fraud into card-not-present channels, and now evidence is emerging that this is happening with a vengeance, even with companies like airlines that …