News

February, 2015

• 10 February

  COMMENTARY: Ignore the Naysayers! Here’s Why Apple Pay Will Be a Winner

  Here’s a resolution that the payments industry should consider: Stop doubting market capabilities and start anticipating currents within the technological wave. With the unveiling of Apple Pay, naysayers are already coming out in full force. However, I’ve spent considerable time in the card-not-present environment, giving me a unique perspective on …
• 9 February

  It’s Quieter Than Starbucks, But Cumberland’s Mobile App Is Ringing up Results, Too

  Gasoline retailer Cumberland Farms, which operates nearly 600 stores in eight Northeastern states, is proving you don’t have to sell fancy coffee concoctions to generate impressive results with a mobile app. The program, which Cumberland calls SmartPay, enrolled 100,000 customers in the first 45 days after its 2013 launch—a response …
• 9 February

  Physical Stores Still Dominate Retail Despite Headlines on Mobile, Online Commerce

  In spite of all the hoopla about burgeoning e-commerce and mobile-commerce activity, consumers still prefer to shop inside a store, finds the “Total Retail: Retailers and the Age of Disruption” report from PriceWaterhouseCoopers LLP. Of the more than 1,000 U.S. consumers surveyed, only 27% said they shop online weekly. But, …
• 6 February

  EMVCo Aims for a ‘Smoother Experience’ in Revised Spec for Online Payment Security

  With the Europay-MasterCard-Visa (EMV) chip card movement well under way in the U.S. market, a key standards body is training its sights on a technology many believe could combat the fraud EMV is expected to drive to the Web. By the end of this year, EMVCo plans to have a …
• 5 February

  Eye on Litigation: Visa Seeks Dismissal of Pulse Lawsuit; Numerous Opt-Out Merchants Settle

  By Jim Daly In the opinion of Visa Inc.’s lawyers, the Pulse PIN-debit network’s antitrust suit against the leading payment card network shouldn’t even have a pulse because Pulse hasn’t shown it has been harmed. Meanwhile, Google Inc. and a number of merchants that individually sued Visa and MasterCard Inc. …
• 5 February

  Cardtronics Finds Banks To Fill Part of Its Chase ATM Void

  Leading retail ATM network owner Cardtronics Inc. has already found banks ready to put their brands on 40% of the Cardtronics ATMs that until recently bore the JPMorgan Chase & Co. brand, chief executive Steve Rathgaber told analysts Wednesday. Chase informed Houston-based Cardtronics about three months ago that it planned …
• 5 February

  Eye on Processors: EMV Card Orders Boost FIS; Fiserv’s Debit Business Grows

  Orders for Europay-MasterCard-Visa (EMV) smart cards rolled in for bank and payment processor Fidelity National Information Services Inc. (FIS) in the fourth quarter while rival Fiserv Inc. saw increases in its multi-faceted payments business. Jacksonville, Fla.-based FIS on Thursday reported $647.2 million in fourth-quarter revenues from its Payment Solutions Group …
• 4 February

  Braintree’s Mobile Transactions Grew 400% in Fourth Quarter

  Online-payments provider Braintree says 2014 was a banner year for the Chicago-based unit of PayPal Inc., with total transactions growing to 2.8 times the 2013 tally. In a blog post, chief executive Bill Ready also said that Braintree’s mobile transactions in the fourth quarter increased to four times the number …
• 4 February

  Consumer Readiness for EMV Is Rising in Wake of Breaches And As Deadline Nears

  With the payments industry working against an implementation deadline that’s less than eight months away, networks and issuers are looking more closely at just how ready cardholders are for Europay-MasterCard-Visa (EMV) chip cards. The latest research from MasterCard Inc. indicates some 60% of consumers are now at least aware of …
• 3 February

  Most ATM ISOs Moving To Upgrade Their Machines Before 2016 Liability Shift

  Sixty-one percent of respondents to a recent ATM Industry Association survey said that 76% to 100% of the ATMs they operate will be ready for the Europay-MasterCard-Visa (EMV) chip card liability shift that takes effect in October 2016, the trade group of ATM independent sales organizations and retail ATM operators …