Digital Transactions Authoritative, insightful and timely information for payments professionals
The surprising revelation by J.C. Penney Co. Inc. over the weekend that it had ceased acceptance of contactless payments unmasked the little-noticed ability of contactless mobile wallets to work with point-of-sale technology that far predates them but which Visa Inc. wants banished. The blend of old and new has worked …
April, 2019
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22 April
Smart payment solutions: What is the payments industry doing to keep up?
We’ve come to expect certain levels of safety, security, and convenience when it comes to payments. Today, consumers are using their phones, watches, and even their cars to pay for various goods and services. Recently, the Mercedes-Benz Stadium, home of the NFL’s Atlanta Falcons and MLS’ Atlanta United, switched to …
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22 April
JCPenney Drops Apple Pay
Department-store chain J.C. Penney Co. Inc. confirmed over the weekend that it no longer accepts Apple Inc.’s Apple Pay mobile-payment service. The move appears to involve a Visa Inc. contactless rule that took effect this month that may have broader implications for U.S. retailers. The confirmation came in a tweet …
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22 April
Visa Next Promises Greater Consumer Control of Digital Payments
Visa Inc. announced Monday the debut of Visa Next, a platform for issuers and issuer-processors that enables such options as the ability to create new digital card accounts on demand and instantly activate and tokenize digital accounts for e-commerce and mobile-wallet use. Visa Next offers a series of application programming …
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22 April
Apriva Adds viv Support and other Digital Transactions News briefs from 4/22/19
Apriva LLC, a payments provider for unattended retail, said its network will support the viv mobile-payments app from Vagabond, allowing college students to use virtual campus cards for vending-machine purchases. In related news, Apriva said it will support mobile payments for AveriGo LLC, a software provider for the vending and …
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19 April
The Extortionists Behind Ransomware Are Demanding Dramatically Higher Sums
Not all security breaches are designed to steal data. Instead, an increasing number these days are programmed to hold data hostage. And the sums demanded by the malefactors behind so-called ransomware attacks are rising fast. The average ransom in the first quarter came to $12,762, up 89% just from the …
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19 April
First Data in Joint Venture To Buy Ireland’s Payzone and other Digital Transactions News Briefs from 4/19/19
Allied Irish Banks p.l.c. and processor First Data Corp. formed a joint venture to acquire a 96% stake in Payzone, operator of Ireland’s largest retail payment network, for about €100 million ($112.5 million) including debt. AIB will own 75% of the joint venture and First Data 25%, according to The Irish …
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18 April
Bad Bots Favor Financial Services, Report Finds
Being Number 1 when it comes to malicious online bot traffic is not the highest praise for the financial-services industry. But, that’s where the industry stands in the “2019 Bad Bot Report: The Bot Arms Race Continues,” released Wednesday by Distil Networks. Of the traffic tracked in the report, 42.2% …
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18 April
In a Return to Mobile Financial Services, T-Mobile Launches Its Money App Nationally
In a sign that at least some U.S. wireless carriers haven’t given up on their ambitions in mobile payments, T-Mobile US Inc. on Thursday launched its T-Mobile Money service nationwide. But the service, which began as a pilot in November, goes beyond payments offerings to include some traditional banking services …
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18 April
AmEx Card Volume up 7% and other Digital Transactions News briefs from 4/18/19
American Express Co. reported first-quarter U.S. card-billed business of $195.5 billion, up 7% year-over-year. International volume slipped 1% to $100.2 billion, bringing AmEx’s total billed business to $295.7 billion, a 4% increase from $283.8 billion a year earlier. Discount revenue rose 5% to $6.2 billion. AmEx said its average worldwide …