Digital Transactions Authoritative, insightful and timely information for payments professionals
Retailers and restaurants have a higher degree of awareness about EMV and its accompanying liability shift than other merchant types, finds the Paychex Small Business Survey, released Tuesday. In the survey of more than 760 small-business owners between Oct. 14 and Oct. 27, 69% of those in retail and restaurants …
November, 2015
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25 November
Holiday Mobile Payments Predicted To Grow 47%, With All E-Commerce Up 14%
Powered by growth in mobile payments, so-called digital commerce for 2015’s holiday season will grow 14.3% to $70.1 billion from last season’s $61.3 billion, Internet metrics firm comScore Inc. predicted Wednesday. Reston, Va.-based comScore defines digital commerce to include desktop e-commerce and mobile commerce. The firm predicts desktop e-commerce for …
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24 November
Of Two Minds on EMV: Consumers Like the Security, but Many Are Annoyed at Checkout
New findings about the public’s attitudes toward EMV chip cards and their disruptive potential show consumers appreciate the improved security over magnetic-stripe card payments. Still, many consumers are bothered by the new transaction processes, enough so that some will avoid stores where they know they have to insert a chip …
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24 November
Visa Says It’s ‘Extremely Encouraged’ by Results From EMV’s First Official Month
Visa Inc. on Tuesday reported U.S. EMV chip card statistics for October, the first month in which the payment card networks’ EMV liability shifts for point-of-sale transactions took effect. The numbers show EMV’s footprint is still small, but growing rapidly. There are now 180.6 million Visa-branded chip cards in the …
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23 November
Universal Card Provider ScramCard Pegs its Pitch on Mitigating Fraud Risk
Backers of ScramCard, a new universal card that offers consumers the ability to load multiple credit and debit cards onto one card, hope messages touting its potential security and fraud-mitigation benefits will reach welcoming ears. Like other universal cards, ScramCard enables consumers to load their payment card details onto the …
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23 November
Holiday Spending May Feature More Debit And Cash. Mobile Payments? Not So Much
By John Stewart The annual holiday-spending frenzy is about to kick off, and if a consumer survey released on Monday is any indication, it will feature a lot more debit card and cash usage and a lot less mobile payment than you might have expected. Some 39% of consumers intend …
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20 November
Mum About the Details, MCX’s Mooney Hints at ‘Plans on the Table’ Beyond Chase Deal
By John Stewart Last month, the spotlight shone on Merchant Customer Exchange LLC when JPMorgan Chase & Co. officially unveiled its Chase Pay wallet, set to launch next year, and said it will be included in MCX’s merchant-controlled CurrentC application. But, as big as that deal is for MCX, the …
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20 November
Visa, Wal-Mart Settle Wal-Mart’s Interchange Opt-Out Lawsuit
Visa Inc. and Wal-Mart Stores Inc. have settled a 2014 antitrust lawsuit the huge retailer filed against Visa that sought $5 billion in damages, Visa reported. Disclosure of the settlement comes in a brief passage in Visa’s annual report for fiscal 2015 ended Sept. 30, which Visa filed with the …
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20 November
Losses From Mobile Capture Duplicates Less Than Overall Check-Fraud Losses, Study Says
Fears about fraud losses from duplicate check deposits have plagued mobile remote deposit capture since its inception. Finding data to confirm or debunk those fears, however, has been tough, at least until now. It seems that mRDC fraud is pretty low, according to results of an April-May survey that Alpharetta, …
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19 November
San Francisco Sues AmEx Alleging Unfair Competitive Practices
By Kevin Woodward The City Attorney for San Francisco has filed suit in California Superior Court against American Express Co., alleging the card brand continues to restrain merchants from steering consumers to other payment options. Filed Nov. 6, the suit seeks $2,500 per violation, which City Attorney Dennis J. Herrera …