Digital Transactions Authoritative, insightful and timely information for payments professionals

February, 2018

• 21 February

  Eye on Security: 124 Breaches Already Reported in 2018; Cost of Malicious Cyber Activity May Exceed $100 Billion

  

  Some 124 new data breaches have become known this year as of Feb. 16, the Identity Theft Resource Center reports. And the White House’s Council of Economic Advisors issued a study last week pegging the cost of malicious cyber activity to the economy in 2016 at $57 billion on the …
• 21 February

  WEX Notes Transactions Growth and other Digital Transactions News briefs from 2/21/18

  

  ATM network owner and operator Cardtronics plc said fourth-quarter 2017 ATM operating revenues rose 18% year-over-year to $346.2 million, but net income declined 36% to $16 million. The company also said more than 100 financial institutions and 6 million cards were added to its Allpoint surcharge-free network in 2017. Fleet-fueling …
• 20 February

  An Acquisitive Shift4 Payments Buys Taxi Processor CurvePay

  

  Shift4 Payments LLC has made another acquisition. The acquiring player behind the Harbortouch brand purchased Melville, N.Y.-based CurvePay, which was backed by IRN Payment Systems, Shift4 announced Tuesday. Terms were not disclosed. It was only two weeks ago that Allentown, Pa.-based Shift4 Payments finalized acquisitions for three hospitality point-of-sale providers, …
• 20 February

  Gateway Provider NMI Snaps up Creditcall in a Bid for Wider Payment Capabilities

  

  Network Merchants LLC has agreed to acquire Creditcall, a United Kingdom-based payment gateway provider, processor, and vendor of EMV kernel software. Terms of the deal, including a price and an estimated closing date, were not disclosed in NMI’s official announcement. Roy Banks, NMI’s chief executive, tells Digital Transactions News the …
• 20 February

  Google Formally Unveils Its Work-in-Progress Google Pay, the Successor to Android Pay

  

  After announcing a coming rebranding for its Android Pay mobile and online payment service in January, Alphabet Inc.’s Google subsidiary on Tuesday formally unveiled the new Google Pay. But the rebranding, centered on a new mobile app for Android devices, is a work in progress, with more changes and new …
• 20 February

  NthCard Launches Gift Card POS App and other Digital Transactions News briefs from 2/20/18

  

  NthCard LLC, a prepaid gift card processing and distribution firm, launched nthPOS, an app for Android, iOS, and Windows 10 devices that enables merchants to activate, redeem, and reload gift cards using a mobile phone or tablet. Fraud-management vendor Giact Systems LLC announced it and Advanced Fraud Solutions are offering a …
• 19 February

  Bombshell Mueller Indictment Details How Stolen Identity Information Fueled Fraudulent PayPal Accounts

  

  Stolen identity information obtained by several Russian defendants named in Special Counsel Robert S. Mueller’s indictment, released last week, was used to create fraudulent PayPal Holdings Inc. accounts. The defendants were named in connection with alleged activities surrounding the 2016 presidential election. The indictment provides details about an alleged conspiracy …
• 19 February

  Bitcoin’s Price Rebounds Past $11K As Its User Fees Slide to Lowest Level in Five Months

  

  Capping an eventful week for cryptocurrencies, Bitcoin is now trading above $11,000 for the first time in three weeks. Even more important, the fees its users must pay when they spend Bitcoin—which had soared into the stratosphere in recent months— have crashed back to earth, according to data available Monday …
• 19 February

  Consumers Increasingly Prefer To Use Debit Cards Instead of Credit Cards, Researcher Shows

  

  Some 61% of consumers surveyed in the fourth quarter by New York City-based Auriemma Consulting Group cited a debit card as their most frequently used card, up from 52% a year earlier. Only 24% named a credit card, down from 35% at the end of 2016. “Based on our consumer …
• 19 February

  Wire Fraud-Prevention Firm Debuts and other Digital Transactions News briefs from 2/19/18

  

  BuyerDocs has been formed to secure wires for down payments made by home buyers from hacking, phishing, imposters, and spoofing. Wire fraud plundered approximately $1 billion from the real-estate industry in 2017, the company says. The Smart Payment Association and payment card manufacturer CPI Card Group Inc. announced that CPI …