Transaction Processing

The password is one of the oldest authentication tools known to man, and now it is rapidly becoming the least respected among security experts for use online or in-app. Consumers’ use of easily guessed codes, coupled with a recent barrage of data breaches, has these experts predicting passwords will fade …

Merchants that add surcharges to credit card transactions likely can continue to do so despite the overturning of the interchange settlement that enabled them to do so. A federal appeals court last week threw out an agreement initially reached four years ago over card-network interchange and acceptance rules. The interchange …

How do consumers feel about payment card acceptance costs, often referred to as “swipe fees”? According to a recent National Retail Federation survey, consumers want the existing debit card interchange price cap to continue, and they want credit card pricing to benefit them and merchants as opposed to “credit card …

It was great while it lasted, but it looks like the chip card party is over for VeriFone Systems Inc., the leading U.S.-based point-of-sale terminal maker, at least for now. The U.S. conversion to EMV chip cards had produced a North American revenue windfall for VeriFone over the past couple …

• Noodles & Co. reported that malware led to the compromise of an undisclosed number of customers’ credit and debit cards between Jan. 31 and June 2 at 407 locations in 27 states and the District of Columbia representing 80% of its 507 total stores; the fast-casual restaurant chain began …

• Noodles & Co. reported that malware led to the compromise of an undisclosed number of customers’ credit and debit cards between Jan. 31 and June 2 at 407 locations in 27 states and the District of Columbia representing 80% of its 507 total stores; the fast-casual restaurant chain began …

The U.S. rollout of EMV is just one chapter—albeit a major one—in an unfolding international payments story, but another one is taking the stage that could have important implications both for faster payments and cross-border transactions. SWIFT, the Belgium-based international financial-messaging organization, announced on Tuesday that 73 financial institutions worldwide …

A second day of market turmoil in the wake of the United Kingdom’s “Brexit” vote to leave the European Union once again took a big bite out of stocks of U.S.-based payments companies with large operations in the U.K. and Europe. For example, on a day when the major market indexes …

Shares of U.S. payments companies fell even farther than the general market Friday as the world absorbed the news from Thursday’s stunning “Brexit” vote in the United Kingdom in which British voters signaled they want to leave the European Union. Whether today’s market carnage is a sign of future long-term …

Merchants, in their argument for PIN rather than signature authentication for EMV chip card transactions, may have industry opinion on their side. According to an informal poll conducted this week by Digital Transactions News, two-thirds of readers agree that the merchants suing the card networks over the issue have a …