Transaction Processing

By Jim Daly Legal U.S. marijuana sales grew 74% to $2.7 billion in 2014 from $1.5 billion the year before, but you wouldn’t know it by the payment card and other electronic payments generated by the budding industry, according to a new research report. Even though about 20 states have …

As the U.S. payment card industry migrates to EMV chip cards, there’s one group to which the payments industry needs to pay special attention. Smaller merchants have little awareness of what EMV is and how their businesses will be affected by it. That’s why Visa Inc. set out Friday on …

Intuit Inc., which markets the highly popular QuickBooks accounting product for small businesses, continues to reinforce the online version of the software with point-of-sale and e-commerce capabilities. The Mountain View, Calif.-based company on Thursday announced an integration for QuickBooks Online (QBO) with Shopify Inc., an Ottawa-based platform for e-commerce and …

  It’s a sobering statistic. Only 28.6% of the companies surveyed in the Verizon 2015 PCI Compliance Report were still in compliance with the Payment Card Industry data-security standard a year after a successful validation. Released Thursday, the annual report catalogs the state of PCI compliance gleaned from more than …

With the pressure on to secure the digital fortifications of payment data, security professionals say they need more money, more time, and more knowledgeable staff to defend their companies, according to a survey from data-security company Trustwave. In its 2015 Security Pressures Report, of the more than 1,000 security professionals …

Mobile point-of-sale company AnywhereCommerce will add near-field communications (NFC) payment capability to its mobile hardware in coming weeks, signaling a further shift along its path to becoming a cloud-based payments gateway. That’s the word from William Nichols, Anywhere Commerce’s chief executive. That strategy, implemented about six months ago when Nichols …

Merchants that have spent years battling card-acceptance fees are turning a jaundiced eye toward a proposal to speed up payments on the nation’s automated clearing house network. That’s because the same-day settlement proposal, floated in December by NACHA, the ACH’s rules-setting organization, contains a so-called interbank fee that, for some …

Familiar is easier than unfamiliar. This basic truth explains much misspent effort in the payments world. Wallets are familiar. We all have them. So as it became clear that the physical part of payments—cash, checks, plastic cards—would at some point disappear, it was natural to carry the idea of a …

Payments and other financial-services executives have long complained about what they call patent trolls, typically individuals who gain a patent on what some regard as a longstanding business method and then sue practitioners for infringement. In some instances, these cases have succeeded in wringing large settlements out of banks and …

Online-commerce company Shopify Inc. has made its Shopify POS app free for its merchants and introduced an iPhone version of the payments service, the company recently announced. The app, which launched in 2013, includes a card reader. The new app replaces the Accept Payment option in Shopify Mobile, the Ottawa, Ontario-based company’s …