News

July, 2011

• 19 July

  Brand Protection, Internal Threats Emerge Among Chief PCI Preoccupations

    Fear of the damage that a data breach can inflict on a brand, rather than of network fines, drives organizations to invest in compliance with the Payment Card Industry data-security standard (PCI), a study released on Tuesday says. Some 69% of the mostly online organizations surveyed cited brand protection …
• 19 July

  Isis Now Counts Visa, MasterCard, Discover, And AmEx As Network Partners

    Rebounding after abandoning plans to build a proprietary merchant network, the Isis mobile-payments joint venture of three leading telecommunications companies on Tuesday said it had enlisted the support of the four major general-purpose card networks in the U.S. The announcement marks an advance by the venture backed by AT&T, …
• 18 July

  Rosy Predictions Aside, Mobile Payments Boom Still Years off, Experts Say

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• 14 July

  Prospects Brighten for Same-Day ACH As Software Emerges And NACHA Eyes Rules

    Faster clearing and settlement of automated clearing house transactions, hampered by a host of issues and limitations, could be picking up some momentum, albeit slowly. Software is emerging to allow both large and small financial institutions to take advantage of a nearly 1-year-old Federal Reserve service that clears transactions …
• 14 July

  PayPal’s Slick New NFC-Based P2P Tech Could Be Prelude to POS Play

    PayPal Inc. this week demonstrated its slick new person-to-person payments option for Android smart phones equipped with near-field communication (NFC) technology. The demo gave birth to a crop of headlines in online tech publications, but the new service may be little more than a prelude to bigger things PayPal …
• 14 July

  Eye on EMV: UNFCU Study, Aite Survey, Jack Henry Service

    n The first U.S. financial institution to introduce EMV cards, United Nations Federal Credit Union, released the results of a study along with Gemalto, the vendor of its cards. The study comes one year after the credit union launched its chip-and-PIN credit cards. As a result of the study, …
• 13 July

  NCR Jockeys for POS Position with $1.2 Billion Deal for Radiant Systems

    NCR Corp. bolstered its position at the point of sale this week by announcing a deal to buy Radiant Systems Inc. for $1.2 billion in cash. Alpharetta, Ga.-based Radiant Systems is a specialist in POS software and hardware for various merchant segments, especially the hospitality industry and specialty retailers. …
• 12 July

  In a Surprising Twist, Reloadable Prepaid Not As Durbin-Proof As Originally Thought

    Reloadable general-purpose prepaid cards, once thought to be largely exempt from the debit card interchange restrictions of the Durbin Amendment, will be covered by that law in more cases now that the Federal Reserve has issued its final rule interpreting the amendment. Some experts see the new rule crimping …
• 11 July

  Blaming the Fed’s Durbin Rule, Tempo Payments Prepares to Shut Down

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• 7 July

  With $5 Million Round, Mobibucks Is Latest NFC Alternative to Draw Investors

    While point-of-sale payments using near-field communication (NFC) technology appear to be drawing closer, systems that let consumers make mobile payments in stores without NFC are drawing investor interest. This week, Mobibucks, a Louisville, Ky.-based startup, announced a $5 million Series A funding round led by Acadia Woods Partners. The …