News

July, 2016

• 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 …
• 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 …
• 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 …
• 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 …
• 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 …
• 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 …
• 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 …
• 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 …
• 11 July

  In Acquiring, a Slow Pace of Change Masks Rapid Run-up in Growth for Newer Models

  

  The acquiring business is accustomed to a slow rate of change, but that deliberate pace is masking radical underlying shifts in how merchants handle payments and whom they deal with for processing services, according to research at First Annapolis Consulting, Annapolis, Md. Change comes so slowly in this business that …
• 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 …