Digital Transactions Authoritative, insightful and timely information for payments professionals
The U.S. Marshals Service held its first auction of bitcoins in June, and now it’s planning an even bigger one for Dec. 4. Like the June 27 auction, the 50,000 bitcoins to be auctioned by sealed bid were seized in October 2013 from Ross Ulbricht, the alleged operator of the …
November, 2014
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18 November
First Data Plans Update for TransArmor That Will Bring Tokens to Sellers Regardless of Acquirer Ties
First Data Corp. will update its TransArmor tokenization service in 2015 to make it platform-agnostic, while expanding the number of sales channels it is available through, says a First Data executive. Launched in 2010, TransArmor provides merchants a way to mask sensitive cardholder data by replacing them with a …
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18 November
Mobile Commerce To Peak On Thanksgiving: Adobe
Consumers are expected to use their smart phones and tablets to do more than check prices this holiday season. More of them expect to make mobile-commerce purchases—forecasted to reach $1.6 billion on Thanksgiving Day, Black Friday, and Cyber Monday— finds the Adobe Digital Index, a research service from Adobe …
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17 November
Airport Renovation Includes iPads Where Passengers Can Spend Airline Miles
Before the emergence of Bitcoin and other such alternative currencies, people collected and traded airline miles. Many still do, which is what United Airlines and OTG Management, an operator of restaurants in 10 North American airports, are counting on. The two companies on Monday announced holders of United frequent-flyer miles …
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16 November
Major Prepaid Card Providers Give a Polite Response to the CFPB’s Proposed Regs
Some of the nation’s largest prepaid card companies are either giving a public thumbs up to the Consumer Financial Protection Bureau’s proposed regulations for prepaid card accounts or at least not saying they’re spoiling for a fight with the federal government. Steve Streit, chairman and chief executive of Pasadena, Calif.-based …
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14 November
Pala Interactive To Use Optimal Payments for Its Online Gaming Service
Pala Interactive LLC, an online gambling operator, will use payment-processing services from Optimal Payments Plc, Optimal announced this week. Online gambling revenue in the United States is forecasted to be $2.6 billion by 2017, according to one estimate. Another estimate, from Odobo and H2 Gambling Capital, forecasts $7.7 billion …
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14 November
While Google Wallet Is Ditching Digital Goods, It’s Likely to Stick with Other Markets
Google Inc.’s decision to kill its application programming interface for digital-goods sales may have more to do with the expense and complexity of the market than with any underlying strategy to retreat from the digital-wallet business overall, experts say. Google on Thursday announced it will shut down the 2-year-old API …
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14 November
PayPal Turns to InComm To Boost Digital Gift Card Presence
PayPal Inc. will use electronic gift card services from InComm Holdings Inc., a move that will enable PayPal to expand the number of retailers’ gift cards that it sells on the PayPal Digital Gifts store and in the eBay marketplace. PayPal, a unit of San Jose, Calif.-based eBay Inc., …
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13 November
Mocapay Seeks Wider Distribution Through a New Link With Merchant Link
By Jim Daly Mocapay Inc., one of the nation’s pioneers in mobile payments, hopes to expand its small footprint through a new distribution agreement announced this week with Merchant Link, a gateway and data-security service owned by JPMorgan Chase & Co.’s merchant-acquiring unit, Chase Paymentech. Founded in 2007, Denver-based Mocapay …
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13 November
Survey Pinpoints Arizona City As Top Chargeback Location As ‘Friendly Fraud’ Continues to Plague Online Retailers
Want to know where the chargebacks are coming from? Chargebacks911 has ranked the top five U.S. cities in terms of chargeback rates, placing a ZIP code in Show Low, Ariz., with a 2.2% rate, at the top. The study of 500,000 chargebacks of e-commerce transactions made in 2013 indicates …