Digital Transactions Authoritative, insightful and timely information for payments professionals
• CORRECTION: The March 30 issue of Digital Transactions News mischaracterized the business in which eProcessing Network LLC engages. It is a payment gateway. DTN regrets the error. • In a victory for Apple Inc. and its Apple Pay mobile-payments service, the Australian Competition and Consumer Commission denied a request from four …
March, 2017
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30 March
Payments Pros Confront an IoT Challenge: Securing Devices Without Impeding Usage
With a forecast of 15 billion new devices as part of the Internet of Things potentially coming online as payments devices by 2021, securing these devices, whether they are cars, wearables, or appliances, is emerging as a top concern. “We are seeing a huge increase in inadequately protected devices,” Graeme …
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30 March
More About Rosen Hotels Breach And Other Digital Transactions News Briefs
A data breach at Rosen Hotels & Resorts last year could cost the company more than $2.4 million in payment card network fines and other expenses, according to Rosen’s insurance company, the Orlando Sentinel reported.
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29 March
Want Contactless Payments in the U.S.? Don’t Hold Your Breath, Say Industry Experts
Contactless payments may seem like the next evolution of the U.S. payments industry, but the challenges confronting that technology may be greater than those of the ongoing chip migration, industry observers suggested on Tuesday at an industry trade show. “At the moment, contactless is much more complex, more expensive,” Allen …
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29 March
A Supreme Court Decision Favors Merchants in Latest Round in Battle Over Surcharging
Merchants won a skirmish on Wednesday in their long-simmering battle with the card networks over acceptance costs with a decision by the U.S. Supreme Court to void a lower-court ruling that upheld a state law banning credit card surcharging. The decision, in which all eight Justices concurred, sends the case …
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29 March
Mastercard Buys NuData Security And Other Digital Transactions News Briefs
• Mastercard Inc. has agreed to acquire NuData Security, whose technology identifies users from their online, mobile-app, and smart-phone interactions. Terms were not disclosed. • Fair Isaac Corp., otherwise known as FICO, said it detected 70% more compromised debit cards at U.S. ATMs and point-of-sale terminals in 2016 than it did …
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28 March
COMMENTARY: Getting to ‘Yes’ for Faster (And Secure) Payments—Part III
This third and final installment of the Faster Payments series examines some ways the payments industry can get to “yes” on viable solutions—and thereby actually make some progress in making payments more secure and efficient as well as faster. The Fed will have an indispensable role in fostering paths to …
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28 March
Square Launches in the U.K. And Other Digital Transactions News Briefs
Square Inc. launched in the United Kingdom, its fourth national market outside the United States and its first in Europe (it already operates in Canada, Japan, and Australia). While the U.K. foothold gives the firm a base from which to expand within the European market, it did not indicate specific …
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27 March
A Supreme Court Rebuff Sends a Massive Credit Card Interchange Case Back to Brooklyn
The U.S. Supreme Court on Monday heightened the uncertainty surrounding crucial payment card rules and practices by refusing to hear an appeal of a lower-court decision last summer that threw out a $5.7 billion antitrust settlement. The top court’s decision will likely lead to years of continuing litigation and negotiation, …
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27 March
COMMENTARY: Getting to ‘Yes’ for Faster (And Secure) Payments—Part II
Part I of this three-part series outlined the development of the realization by the Fed’s payments task forces that payments are complicated, difficult, and expensive to change in order to make them safer and more efficient. This installment deals with the growing concern about security threats that are shaping the …