News

August, 2011

• 3 August

  Malware And Spear-Phishing Soar, Helping To Drive Rise in Breaches

    While the payments business continues to fret about data breaches, new information emerged this week that helps explain how such pernicious leaks happen, and why they’re happening with increased frequency. While notable breaches like the one at Sony earlier this year steal headlines, cybercriminals are plundering accounts at organizations …
• 2 August

  S1 Spurns Takeover Offer from ACI, But ACI Says It Won’t Back off

    n As it did July 26 when it announced its takeover offer for S1, ACI also said it is “prepared to do what is necessary to make this [transaction] happen.” The ACI statement did not elaborate. Some observers speculate the Elkhorn, Neb,-based software company will return with a sweetened …
• 1 August

  Isis Backer Verizon Wireless Agrees to Add AmEx’s Serve to Phones And Tablets

    n n n n n n n New York City-based Payfone uses a consumer’s mobile-phone number to authorize purchases. AmEx led a $19 million investment in Payfone in April that included the investment arm of Verizon Communications, n
• 1 August

  DoJ Indicates Settlement Near in Antitrust Challenge to VeriFone-Hypercom Merger

    The U.S. Department of Justice indicated Monday that a settlement of its antitrust challenge to the planned acquisition by VeriFone Systems Inc., the leading U.S. point-of-sale terminal maker, of rival Hypercom Corp. could be reached by Aug. 30. A DoJ court filing, however, does not give details about any …

July, 2011

• 29 July

  Mobile-Payment Apps Store And Leak Critical Data, Security Expert Says

    n n n n n n n n
• 28 July

  Heartland Hopes To Make Hay from Debit Price Controls with “Durbin Dollars”

    n n n n n n n n n
• 27 July

  First Checks, Now Cards: How Entrepreneurs Are Harnessing Cameras for Payments

    n Jumio Inc., a startup based in Mountain View, Calif., this week introduced a system that lets consumers scan credit and debit cards using the Webcam built into many PCs. The launch follows a similar application introduced earlier this year by Card.io, San Francisco, that lets mobile phones scan …
• 27 July

  Visa Outlines New Fee Structure To Defend Its Debit Business

  As Visa Inc. moves into the post Durbin-era, the debit card market leader plans to offer a fixed network participation fee and reduce its variable processing fee for Visa debit products in the United States. Executives expect the new fee structure will make Visa a more viable alternative to competing …
• 26 July

  ACI Announces a $540 Million Bid for S1, Casting a Shadow over S1’s Fundtech Deal

    In a surprise development that has the potential to scuttle a merger agreement between payments-software firms S1 Corp. and Fundtech Ltd., ACI Worldwide Inc. on Tuesday announced a cash-and-stock bid valued at $540 million to acquire its Atlanta-based rival S1. If the deal is consummated, it will combine two …
• 26 July

  New Rule To Fight Prepaid Money Laundering Mostly Exempts Closed-Loop Cards

  Federal regulators on Tuesday issued their final rule for preventing terrorists, drug dealers, and other criminals from using prepaid cards for money laundering. The new rule from the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCen) subjects merchants and other non-bank entities that sell or manage prepaid cards to some …