Digital Transactions Authoritative, insightful and timely information for payments professionals
• Fidelity National Information Services Inc. (FIS) announced it is supplying its FIS Cardless Cash ATM service to cash dispensers operated by Payment Alliance International. Ultimately, the service will include 70,000 ATMs in the PAI ATM network. • The United Kingdom’s Competition Appeal Tribunal ruled that Mastercard Inc. must pay approximately …
July, 2016
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14 July
Samsung Pay Users Have Higher Satisfaction Rates Than Apple Pay Users: Report
Samsung Pay, the mobile payment service launched by Samsung Electronics Co. Ltd. a year after Apple Inc.’s Apple Pay debuted, appears to be faring better with consumers despite Apple Pay’s higher adoption rate. In its most recent Mobile Pay Tracker, New York-based Auriemma Consulting Group, found that 92% of Samsung …
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14 July
Facing an Array of Wallet Rivals, MasterCard Launches a Revamped Masterpass Service
MasterCard Inc. on Thursday rolled out a revamped Masterpass digital wallet it clearly hopes will out-compete offerings from technology titans like Alphabet Inc., Apple Inc., and Samsung Electronics Co. Ltd., all of which have come into the market since Masterpass’s capability the original wallet had at its launch, though it …
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13 July
EMV Migration, Plus Cardholders’ Own Behavior, Propel Card Fraud in the United States
The percentage of U.S. consumers who experienced credit card fraud in the past five years leaped from 41% in 2014 to 47% in 2016, according to the “2016 Global Consumer Card Fraud: Where Card Fraud Is Coming From” report released Tuesday by Aite Group LLC. The report surveyed more than …
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13 July
Merchant Advisory Group Debuts Education Site and other Digital Transactions News briefs
• Processor First Data Corp. and terminal maker Ingenico Group announced a new solution supporting EMV tip adjust and the common application identifier for debit and running on Ingenico smart terminals. First Data has certified the solution on its Omaha platform. • The Merchant Advisory Group launched KnowYourPayments.com, a Web …
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13 July
Bitcoin’s ‘Halving’ Poses a Threat to Miners, But It’s One That Could Resolve Itself
Bitcoin watchers held their breath over the weekend when the celebrated “halving” took place, abruptly chopping in half the incentive those who produce Bitcoin receive and raising questions about the impact the event would have on the 7-year-old cryptocurrency. The halving, which is part of Bitcoin’s basic code and so …
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12 July
With EMV Not Yet in Every Wallet, Square Promotes Its Magnetic-Stripe Readers
Despite the hoopla surrounding EMV acceptance, and the constant promotions from acquirers and payments providers touting EMV-capable equipment, at least one acquirer, Square Inc., continues to believe there is a market for magnetic-stripe readers. A direct-mail piece from Square mailed late last week touts its magnetic-stripe reader along with its …
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12 July
Retailers Urge House to Reconsider Bills That Would Repeal the Durbin Amendment
More than 120 retailers sent a letter Tuesday to the U.S. House of Representative’s Financial Services Committee urging the panel to reconsider two measures that would repeal the Durbin Amendment in 2010’s Dodd-Frank Act. The bills stand virtually no chance of becoming law while Barack Obama remains president, but with …
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12 July
Gravity Chief Executive Wins Court Case and other Digital Transactions News briefs
• More than 120 retailers, including Wal-Mart, Target, Kroger, Best Buy, and 7-Eleven, signed a letter urging the U.S. House of Representative’s Financial Services Committee to reconsider the elimination of the Durbin Amendment that would happen if two pending bills become law. • After a three-week trial, a Superior Court judge …
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11 July
A Report Shows How Credit Card Declines Eat in to Recurring-Payments Revenue
Fourth-quarter transaction decline rates for credit and debit cards used for subscription payments increased to 15.9% from a first-quarter 2015 low of 14.4%, based on the value of the transaction, according to a report from Recurly Inc., a recurring-payments specialist. The “Recurly Subscription Snapshot,” which analyzed 25 million recurring payments …
