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Read More »Digital Transactions December 2016
Why Holiday Gift Card Loads Will Perk up
Retailers can expect a bump up in the dollars consumers load on closed-loop gift cards this holiday season as a festive spirit takes hold and more merchants favor the cards over holiday discounts, according to a forecast released last month by payments consultancy Mercator Advisory Group. “Retailers are expecting that …
Read More »Valued at a Lofty $9.2 Billion, E-Commerce Specialist Stripe Shows Where the Action Is
By John Stewart @DTPaymentNews Stripe Inc.’s latest funding round, in which the privately held San Francisco-based company nearly doubled its valuation to $9.2 billion, shows what startups can do if they’re innovating in the right sector of payments, experts say. Just six years old, Stripe provides tools for payments online …
Read More »Chip Cards Dominate Holiday Shopping So Far, While E-Commerce Gains Spending Share
By Kevin Woodward@DTPaymentNews U.S. shoppers flooded into stores and online this past weekend—Macy’s Web site crashed on Black Friday from the crush—to find holiday gift deals, with many putting their chip cards to use, though e-commerce spending, where the fraud-prevention feature of the chip is immaterial, continues to increase. In …
Read More »Affirm Adds Four Integrations and other Digital Transactions News briefs
• Processor Jack Henry & Associates Inc. will resell the Zelle person-to-person payments service to its financial-institution clients under a new agreement with Zelle’s owner, Early Warning Services LLC. • Affirm Inc., whose technology allows consumers to pay over time for online purchases, said it is now integrated with four new e-commerce …
Read More »With Payments Veteran Rawls at the Helm, iPayment Solicits Resellers To Boost Growth
By Kevin Woodward@DTPaymentNews New York-based iPayment Holdings Inc. has named O.B. Rawls IV chief executive and president and charged the veteran payments executive with guiding the payments company’s plans to increase sales . Rawls, whose prior experience includes First Data Corp., also joins the iPayment board of directors. He has …
Read More »The ETA Sends a Payments-Industry Wish List to President-Elect Trump
By Jim Daly@DTPaymentNews Perhaps when he’s not tweeting, President-elect Donald J. Trump will get around to reading the letter the Electronic Transactions Association sent to him Monday outlining payments-industry proposals for Congress and federal regulators once Trump’s administration takes over in January. “ETA encourages your administration to create a policy …
Read More »More Than Tickets in Ticketing App and other Digital Transactions News briefs
• The U.S. District Court for the Eastern District of Pennsylvania issued final approval of a $37.5 million settlement in a class-action case, Reyes v. Zions First National Bank, attorneys for the class announced. In the case, plaintiffs alleged Zions Bank and a former payment-processing subsidiary knowingly handled payments for fraudulent …
Read More »Eye on Security: Madison Square Garden Breached; Should Chip Cards’ Mag Stripes Go?
Sports and entertainment venue operator The Madison Square Garden Co. (MSG) on Tuesday disclosed a nearly year-long breach of payment card information involving customers who bought concessions at five of its venerable properties. And a new study from Federal Reserve researchers makes six recommendations for improving mobile-payments security, one of …
Read More »Ingenico Debuts Android mPOS Device and other Digital Transactions News briefs
Terminal maker Ingenico Group introduced its first Android-based mobile point-of-sale payment device, the APOS. The portable terminal includes a front and rear camera and accepts payments based on EMV, mag-stripe, and near-field communication. Cubic Transportation Systems announced it has been awarded a $4.8 million contract modification from the Maryland Transit …
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