Digital Transactions Authoritative, insightful and timely information for payments professionals
How to improve the U.S. payment system? Figure out a way to make electronic payments faster and more secure, as well as a system that would connect various closed-loop payment networks with hundreds of millions accounts. And reduce regulation, too. Those were some of the ideas bandied about Thursday at …
November, 2013
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14 November
Isis Launches Nationwide in Face of Questions About Merchant And Consumer Adoption
Consumers with compatible smart phones now can load the Isis mobile wallet onto their devices and pay with a tap anywhere contactless payments are accepted in the United States. Isis is a payment scheme backed by wireless carriers AT&T Mobility, Verizon Wireless and T-Mobile USA. The smart-phone wallet, which …
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14 November
Within Five Years, Caps on Credit Card Interchange Are Likely, According to a DTN Poll
With debit card interchange rates already regulated, a majority of respondents to a Digital Transactions News poll consider caps on credit card interchange within five years as very likely. n Though no such legislation is under review at this time, the response suggests few would be surprised should it appear. …
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13 November
Survey Revealing Undisclosed Intrusions Indicates Data Breaches Are Under-Reported
The actual number of data breaches taking place in the United States may be much higher than generally understood, if a recent survey of corporate security professionals is any indication. The canvass of some 200 so-called malware analysts working for large and small enterprises revealed that fully 57% have dealt …
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13 November
Square Eliminates Deposit Holds And Drops Unpopular Monthly Pricing Plan
In two moves to attract and retain merchants, Square Inc. on Wednesday announced that it has eliminated holds on merchant deposits as well as deposit limits on U.S. transactions, and will drop a monthly pricing plan that the mobile-payments processor says merchants didn’t like. The new deposit policy applies to …
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12 November
Despite Signs of Progress, Small Merchants Still Lag on Risk Assessment And PCI
Coming on the heels of the release last week by the PCI Security Standards Council of a revised Payment Card Industry data-security standard (PCI) is a report Tuesday that shows how much progress small merchants are making in locking down card data—and how painfully slow much of that progress has …
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12 November
NACHA Proposals for Reducing Exceptions Include New Fines for Sloppy and Risky Originators
In an effort to reduce the volume of returned transactions and motivate banks to crack down on originators of incorrect or risky automated clearing house payments, ACH network governing body NACHA today proposed two new rules to improve transaction quality. One would set new fines that the network could assess …
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7 November
The PCI Council Unveils Its ‘User-Friendly’ Version 3.0 of the PCI Security Rules
Better management of passwords and prevention of point-of-sale terminal tampering are just two features of the new Version 3.0 of the Payment Card Industry data-security standard that the PCI Security Standards Council unveiled Thursday. On its surface, Version 3.0 looks much the same as the previous edition, 2.0, which the …
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7 November
A New Harbortouch POS Terminal Incorporates EMV and NFC Payments
Independent sales organization Harbortouch has released a new payment terminal that incorporates near-field communication, a smart card reader and a magnetic-stripe reader. Dubbed Perkwave, the terminal, which carries no cost except for transactions processed through it, includes a contactless card reader adorned with a consumer-facing display. Point-of-sale device maker …
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7 November
Insurer Enables Auto Policy Selection and Payment Via its Kiosks
Consumers in Tennessee shopping for car insurance from Direct Auto Insurance have a new option to select a policy and pay for it using the insurer’s Direct on the Spot kiosks. Set up in 18 Direct Auto Insurance locations, the kiosks are designed to broaden the insurer’s reach among …