Transaction Processing

As the insurer for deposits at most of the nation’s banks, the Federal Deposit Insurance Corp. collects a large amount of personally identifying information on bank customers. As such, the FDIC is a target for hackers, who hit it with 54 suspected or confirmed data breaches discovered between Jan. 1, …

Elan Financial Services, a processing unit of U.S. Bank, announced it has worked with Ondot Systems to allow two-way communications on the My Mobile Money app. The app now allows issuers to communicate directly with cardholders to confirm debit card transactions. Belgian postal operator bpost has acquired Radial, a U.S. e-commerce …

With Bitcoin trading at $4,300 and Ethereum at $300, most of the attention in the payments world has been on the cryptocurrencies’ value as an investment rather than as a payment method. Now, a year-old Toronto-based startup hopes to change that by enabling contactless point-of-sale transactions using Ether, the Ethereum …

Though digital-wallet adoption among consumers may have paused this year, merchants continue to prep for the electronic payment, according to “The Next Phase of Digital Wallet Adoption,” a report commissioned by JPMorgan Chase & Co. Conducted by Forrester Consulting, a unit of Forrester Research Inc., the report found the fraction …

Convenience-store chain Sheetz Inc. announced it is upgrading the forecourts of its more than 500 locations with EMV acceptance at the pump. The new equipment from Gilbarco Veeder-Root was jointly developed with VeriFone Systems Inc. In addition to EMV acceptance, the technology supports mobile wallets, encryption, barcode scanning, and contactless …

The number of U.S. merchants that accept EMV chip cards at the point of sale is increasing rapidly, according to recent figures from Visa Inc.,  but it’s going to take some work by merchant acquirers and payment card networks to convince the holdouts to convert. Executives from two of those …

Mastercard Inc. and PayPal Holdings Inc. announced they have extended to Canada, Europe, Latin America, the Caribbean, and the Middle East an agreement first reached last year for the U.S. market that clarifies Mastercard as an equal payment option in the PayPal wallet and gives PayPal access to Mastercard’s tokenization …

NCR Corp. is entering the fray to get payment-processing deals with micromerchants. The Duluth, Ga.-based point-of-sale technology company this week launched Ring Up by NCR Silver, a POS service specifically designed for merchants with less than $100,000 in annual revenue. The service uses a magnetic stripe and EMV-compatible Bluetooth reader …

In the age of electronic payments, cash is getting more and more expensive—even when accessed via electronic means. Nationwide, it costs consumers $4.69 to withdraw money from a so-called out-of-network ATM. That’s up 2.6% from a year ago, according to the latest data from Bankrate Inc., a New York City-based …

Merchant processor Worldpay participated in a funding round for machine-learning startup FeatureSpace and agreed to deploy the company’s technology for fraud prevention. Worldpay, which this summer agreed to be acquired by rival processor Vantiv Inc., did not disclose the amount of its investment. Merchant processor Elavon introduced Scoop, a program …