News

April, 2015

• 1 April

  Eye on Acquiring: EMV Chip Card Acceptance on the Mind

  As Transact 15, the Electronic Transactions Association’s annual conference held this year in San Francisco gets under way, acquiring industry vendors and companies are releasing a bevy of news. Among the vendors making announcements is Clearent LLC, a payment-services company based in Clayton, Mo. Clearent says it will resell CardFlight …
• 1 April

  While EMV And Mobile Captivate the Industry, Big Retailers Express Frustrations

  By John Stewart EMV chip cards and mobile payments may be two abiding passions of the payments industry these days, but major merchants are far from sold on either technology, judging by comments from a number of them Tuesday at a payments-technology conference. Most big retailers are gearing up for …
• 1 April

  Consumers Want to Use Apple Pay, But Find Merchant Acceptance Lacking: Survey

    It’s a familiar refrain in payments: For consumers to use a payment method there has to be places to use it. Apple Pay, it seems even with all of the hoopla surrounding it, is no different. That’s what a recent report from Phoenix Marketing International, a Rhineback, N.Y.-based firm, …
• 1 April

  PayPal Will Include NFC Capability in the Coming Version of Its Mobile Wallet

  After long belittling near-field communication technology by joking that its acronym, NFC, stands for “Not for Commerce,” PayPal Inc. before the end of the year will launch a new version of its mobile wallet featuring the technology. PayPal, which has been working with NFC in Australia, will replace its current …
• 1 April

  EMV Cards and Terminals Have a Small but Fast-Growing Foothold, Visa Reports

  Visa Inc.’s U.S. payment card issuers had about 48 million EMV chip cards in the market as of Dec. 31, a Visa executive said Wednesday. And, somewhat surprisingly, about 80% of the small number of U.S. EMV transactions today are coming from small merchants rather than big retailers, which are …

March, 2015

• 30 March

  ISO That Allegedly Processed $26 Million in Unauthorized Charges Settles With the FTC

  By Jim Daly A California independent sales organization called CardFlex Inc. and its two principals have settled federal charges that they allegedly processed more than $26 million in unauthorized charges for a company known as I Works. CardFlex strongly denied the FTC's charges and said it settled in order to …
• 30 March

  As EMV Deadline Nears, CardFlight Preps a Mobile Reader for Chip And Signature

  Mobile point-of-sale service developer CardFlight Inc. will make an EMV chip card-compatible mobile POS reader available in the second quarter, in anticipation of the Oct. 1 liability shift. That’s the date card fraud at the point of sale is scheduled to shift to the party least prepared for it. The …
• 30 March

  Corporate Treasurers Report a Rise in Attempted Wire-Transfer Fraud; Favor Chip-and-PIN

  A near-doubling of attempted wire-transfer fraud and strong corporate support for the chip-and-PIN variety of EMV card payments are among the highlights of the latest payments-fraud study from the Association for Financial Professionals. The recently released study by the Bethesda, Md.-based AFP, an association of corporate treasury managers and finance …
• 30 March

  The Fed Finds Rising Mobile-Payments Adoption, But Big Hurdles Hinder Usage

  The number of mobile-payments users in the United States is growing steadily, but most mobile-phone owners still find other payment methods more convenient, and the frequency of payment use with phones is still low. These are among the conclusions of a Federal Reserve consumer survey conducted in December that also …
• 27 March

  Eye on Mobile: Mobile Devices Becoming More of a Retailer Ally in Authenticating Online Consumers

    Smart phones may become a strong ally to fraud-plagued e-commerce merchants in helping to verify the location and identity of an online shopper. Online fraud is often committed by criminals who manipulate their computer’s location data and other attributes to make it appear they are who they say they …