n To use PayPal Access, a site must sign up for a PayPal account but is not obliged to accept PayPal. The new system then gives the site access to some 100 million active PayPal users, who can control how much information they want to share. If a user …
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Security Notes: What To Do About Malware
Gideon Samid – Gideon@AGSgo.com Clients often ask me: “If I have water on my kitchen floor, I call in a plumber who plugs all my leaks and I don’t need to call him back next week. Why do we have to patch and plug virus holes—daily?” …
Read More »Acquiring: That Problematic New Tax Law
BY Linda Punch New IRS reporting requirements for processors and merchants take effect soon. The extra work involved is one formidable obstacle for the acquiring business. Another one is the IRS itself. When Congress passed a new law requiring merchant acquirers to report merchants’ electronic-payment …
Read More »Strategies: Getting Beyond Square
By Jane Adler Rightly or wrongly, lots of investors are mesmerized by the high-profile startup Square. But it’s not the only newbie transforming the payments industry as venture-capital firms scramble to find the next big idea. Some startup companies get all the attention. The …
Read More »Merchants Zero in on Payments
By John Stewart and Jim Daly Having beaten the banks on debit card pricing, they’re now staking out positions on mobile payments and chip cards. This could be the start of the decade of the merchant in the business of consumer payments. Who controls consumer …
Read More »Security: Spam’s Merchant-Acquirer Chokepoint
By Peter Lucas Spam e-mail may be a constant irritant to consumers, but it’s big business for merchant acquirers willing to settle transactions resulting from those unsolicited ads. Can anything be done to stop it? Every day some unsuspecting consumer receives an unsolicited e-mail from …
Read More »E-Commerce: The Less Obvious Impacts of Durbin on Bill Payments
By Bill Kinnelly and Anthony James Most of the talk about the Durbin Amendment centers on debit interchange controls, but the sweeping measure must be considered in full and in relation to other costs. As we enter the Durbin Era of debit card processing, much …
Read More »Endpoint: Two Mistakes in the Mobile-Merchant Market
So far, mobile-acceptance products for merchants have been limited to cards. Meanwhile, entrants in this market from outside the payments business tend to be long on tech but short on security. Both factors spell trouble, says Bill Clark. The skyrocketing popularity of card-based mobile-payment solutions is certainly impressive, …
Read More »Top-Down Solutions Are Questioned at Fraud-Control Conference
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Read More »Pressing Its Patent, Tiny LML Taps Financial Titans for More Than $40 Million
In the course of a three-year legal war over a patent related to automated clearing house processing, LML Payment Systems Inc. has wrung at least $40.5 million out of some of North America’s biggest financial institutions, including Citigroup Inc., PayPal Inc., and HSBC Holdings PLC, and reinforced its claim on …
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