News

December, 2016

• 22 December

  Debit and Credit Cards Lead the Way in Non-Cash Payment Growth, New Fed Study Says

  

  The Federal Reserve released its latest triennial payments study Thursday morning, and it reports that the number of U.S. non-cash payments totaled 144 billion in 2015, up 5.3% annually from 2012. Debit and credit cards led in growth, while the automated clearing house network “grew modestly,” the Fed said. The …
• 22 December

  As Bitcoin’s Value Soars, Experts Trace the Cause to a Tumultuous Year of Changes

  

  It’s still far from a mainstream currency, but Bitcoin is closing out a tumultuous year with a raging run-up in value. The digital currency breached the $800 level on Tuesday, and as of Wednesday afternoon was trading just shy of $822. These are heights Bitcoin hasn’t seen in nearly three …
• 22 December

  A Majority of Deployers Say ATM Crime Isn’t Rising, but Fraud Still Remains a Problem

  

  ATM deployers reporting a “general increase” in physical and fraudulent attacks on their machines declined to 42% this year from 51% in 2015, according to new data from the ATM Industry Association. While that overall finding was good news, skimming, PIN compromises, malware, and other types of fraud-related attacks on ATMs remain …
• 22 December

  POS Portal Earns PCI Certification and other Digital Transactions News briefs

  • Risk-management and compliance-service provider Coalfire has acquired Veris Group, a specialist in testing and engineering services for cybersecurity. Terms of the deal were not announced. • POS Portal, a point-of-sale equipment distributor, said it now is certified by the PCI Security Standards Council as a point-to-point encryption version 2 key injection facility. Risk-management …
• 21 December

  Cannabis Payments Network Proposed and other Digital Transactions News briefs

  • North American Cannabis Systems Inc. said it will work with Alternet Systems Inc. to launch a payment system for the cannabis market. Legal cannabis sales are expected to hit almost $7 billion this year. Details of how the system would work were not disclosed. • Elan Financial Services has agreed to provide credit …
• 21 December

  A U.S. Court Upholds a Claim Against the CFPB’s Operation Choke Point Efforts

  

  In a rare move against the Consumer Financial Protection Bureau, a federal court has upheld a counterclaim against the agency filed by a company that provides mortgage-payment services through the automated clearing house network. The U.S. District Court in the Northern District of California ruled on Dec. 13 that Nationwide …
• 21 December

  After an Unsteady Start, Debit EMV Shows Steady Progress, a New Report Indicates

  

  When it comes to the U.S. EMV conversion, it seems as if everything has proceeded more slowly than anyone had expected. Merchants have been slow to adopt the chip technology, EMV certifications have been slow in coming, and consumers and merchants alike have even complained about slow transactions. But now, …
• 21 December

  New Pew Report Says Overdraft Fees Need More Regulation

  

  A new report by The Pew Charitable Trusts says a minority of “financially vulnerable” consumers generate most overdraft fee revenue for banks, and it calls for bank regulators to put stricter controls on the controversial fee. The report uses data from the federal Consumer Financial Protection Bureau, more than 40 banks, and …
• 20 December

  U.K. Agency Looks into ATM Maker Merger and other Digital Transactions News briefs

  • The United Kingdom’s Competition and Markets Authority issued a provisional finding that the August acquisition of Germany’s Wincor Nixdorf AG by U.S.-based ATM manufacturer Diebold Inc. “risks a substantial lessening of competition … in the market for the supply of customer-operated ATMs in the U.K.” The new company name is Diebold Nixdorf. The CMA …
• 20 December

  ‘Webrooming’ Outdraws ‘Showrooming’ Among Young Consumers, a Study Finds

  

  Younger consumers are more likely to combine an in-store visit and online product research or purchases than their older counterparts. That’s one finding from the FutureBuystudy released Tuesday by GfK, a Germany-based research firm. The study, which examined U.S. consumer buying behavior, found that 46% of consumers between 18 and 26 …