Transaction Processing

The PCI Security Standards Council issued what it calls a “minor update” to the current version 3.2 of the Payment Card Industry data-security standard. Version 3.2.1 adds no new requirements and is meant to eliminate any confusion regarding effective dates for existing PCI DSS requirements and Secure Socket Layer (SSL) …

In its biggest acquisition yet, PayPal Holdings Inc. is buying Stockholm-based payments firm iZettle AB for $2.2 billion. The San Jose, Calif.-based online payments provider late Thursday confirmed an afternoon of rumors about the pending deal. Jacob de Geer, iZettle’s chief executive and co-founder, will stay on after the acquisition’s …

Retail ATM network owner and operator Cardtronics plc said Fifth Third Bank will place its brand on more than 800 Cardtronics ATMs at Speedway LLC convenience stores in Ohio, Indiana, and Kentucky. In related news, Indiana-based German American Bank said it has joined Cardtronics plc’s Allpoint network, giving its customers access …

Selling gift cards online makes a lot of sense for many merchants, but criminals know that, too, and have quickly figured out ways to steal the cards. Now, as merchants have increased their sophistication in countering these thefts, so too have criminals figured ways to foil the merchants. “Gift cards …

With each week that passes, the so-called unified buy button concept introduced by the major card networks last month takes on more definition, but despite all the discussion, the idea of an online checkout shared by multiple payment networks remains too vague—and too futuristic—to suit some expert observers. “I keep …

First American Payment Systems LP announced an integration with the Uluro billing and communication platform that is used across multiple industries. Payments provider Paya said it now offers the CardFlight SwipeSimple product to its merchants. Merchant processor Payment Data Systems announced record revenue of $5.8 million in the first quarter, …

Payroll giant ADP LLC launched its Wisely Pay service Monday, which combines digital accounts and a Visa-branded chip card as ways to pay individuals and for them to access these funds. Wisely Pay is the first product resulting from Roseland, N.J.-based ADP’s October 2017 acquisition of Global Cash Card, a …

An undetermined number of Chili’s Grill and Bar restaurants sustained a data breach in March and April, Chili’s parent company Brinker International Inc. reported over the weekend. Dallas-based Brinker divulged few details in a Saturday post on the Chili’s Web site and in a new release the same day. It …

Financial institutions have been pushing real-time payments because they are supposed to be not only faster but also more cost-efficient. But now results of a global survey released Monday indicate merchants not only expect faster payments to be less expensive to accept, but also to displace the payment cards banks …

Fraud-mitigation specialist Verifi released its “The Chargeback Triangle” report, completed by Javelin Strategy & Research, that found consumer disputes and chargebacks created $31 billion in financial losses in 2017, with merchants taking on almost $19 billion and issuing banks $12 billion. It also found that for every dollar in a …