News

October, 2012

• 26 October

  MCX Merchants Stress Unity, Commitment to Homegrown Mobile Payments

  The retailers behind the Merchant Customer Exchange (MCX) mobile-payments initiative are united in backing the effort and remain committed to supporting only MCX for mobile payments in their stores, retail executives said during a panel discussion this week. While details surrounding how customers will use the yet-to-be-launched MCX and how …
• 25 October

  Credit Card Settlement Judge Says He Sees Grounds for Preliminary Approval of Pact

  The judge overseeing the mammoth litigation involving credit card interchange said on Wednesday the controversial proposed settlement appears to meet the requirements for preliminary approval. Judge John Gleeson, however, also said he would hear merchants’ objections to the settlement struck by lawyers for the merchant plaintiffs and the payment card …
• 24 October

  Barnes & Noble Reports Fraudsters Compromised PIN Pads at 63 Stores

  Calling it a “sophisticated criminal effort,” Barnes & Noble Inc. on Wednesday reported tampering occurred on PIN pads at 63 of its stores in nine states. The company on Sept. 14 disconnected every PIN pad in all of its nearly 700 stores but indicated that in addition to personal identification …
• 22 October

  Google Mobile Chief Bedier Issues a Teaser About a New Wallet Version to Come Soon

  Google Inc. will launch yet another new version of its mobile wallet in about a month, Google’s top executive for the product said on Monday. The latest version, which Osama Bedier, vice president of  Google Wallet and payments, referred to as “the 2.0 version” of the product, comes just short …
• 22 October

  Isis Launches with Nearly 1,000 Merchant Locations, Nine Smart Phones

  The carrier-backed Isis mobile-payment service debuted in a low-key launch Monday in Austin, Texas, and Salt Lake City with almost 1,000 merchant locations participating and its near-field communication (NFC) system workable on nine smart-phone models. Digital Transactions News counted 493 merchant locations in the Salt Lake area and 470 in Austin, for …
• 22 October

  Speed, Efficiency Top Fed Priorities, But Banks’ Wire Profits Hinder Faster ACH

  A senior Federal Reserve official said greater speed, efficiency, and responsiveness to consumer preferences are the central bank’s top payments priorities as it plans for the next decade. But apart from promoting open communication and collaboration among industry players, Sandra Pianalto, president and chief executive of the Federal Reserve Bank …
• 22 October

  MasterCard Is Readying an EMV Liability Shift for Card-Not-Present Payments, Exec Says

  MasterCard is getting close to announcing an EMV-related liability shift for online and other card-not-present transactions, a network executive said on Monday. “MasterCard will have a card-not-present liability shift,” said Melanie Gluck, vice president of emerging payments at the country’s second-largest payments network. “We haven’t announced it yet, it’s under …
• 19 October

  With Isis Finally Launching Its Two-City Pilot, Consumers Get a Chance To Decide Its Fate

  It looks like it’s finally going to happen. The much-anticipated, much- delayed Isis mobile-payment venture backed by three big telecommunications companies is scheduled to go live on Monday in its test cities of Austin, Texas, and Salt Lake City. Now the ultimate consumers of the new system, mobile-phone users, will …
• 18 October

  EMV No Guarantee Against High Rates of Card Fraud, Study Shows

  Cardholders in Mexico, not the United States, report the highest incidents of card fraud, according to a new report from Boston-based Aite Group LLC and Elkhorn, Neb-based ACI Payment Systems. Of the credit, debit, and prepaid cardholders surveyed in Mexico, where EMV cards are rolling out, 44% reported an incident …
• 17 October

  FTC Official Warns Top Acquiring Execs To Do More About Online Fraud

  The extent of government scrutiny of the acquiring business came into sharp relief on Wednesday as a federal official told an audience of top-level executives with processors and independent sales organizations that online transaction fraud is too high and that the executives must do more to bring it down. “There …