| Dick Durbin looking to become retailers’ BFF |
4-30-13
Dick Durbin is at it again.The Senate majority whip’s ability to push an online sales tax bill onto the congressional agenda showed once again that he has a knack for delivering on the retail industry’s top priorities by bypassing powerful committee chairmen and besting well-connected opponents like the banking lobby. |
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| First Data Corp. Names New CEO - Frank Bisignano |
4-28-13
One of the most trusted allies of J.P. Morgan Chase & Co. Chief Executive James Dimon left the nation's largest bank to run a payment-processing company, the latest executive to depart after a multibillion-dollar trading blunder. |
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| Retailers Object to EMV-Card Adoption — And Some May Not Switch |
4-17-13
The card networks are reporting strong progress among issuers and acquirers in the U.S. migration to EMV-chip cards, but many retailers are still lashing out against the expectation that they upgrade their point of sale hardware. |
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| Fiserv Rebrands ACCEL/Exchange to Accel |
4-16-13
The widely used ACCEL/Exchange debits payments network is now Accel, said its owner, Fiserv Inc. Fiserv said the name change reflects the network’s growth in size and functionality across retail, biller and social person-to-person channels that provide access to demand deposit account funds at ATMs and the point of sale. |
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| Judge: Interchange Settlement Opponents Disseminating ‘Bad Information’ |
4-15-13
U.S. District Judge John Gleeson, who presided over the interchange class-action antitrust suit, agreed with plaintiffs’ attorneys that sites from trade groups that have come out in opposition to the negotiated settlement—National Community Pharmacists Association, National Grocers Association and the National Association of Convenience Stores, among others—are misleading merchants. |
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| Beijing vending machines use sound to accept mobile payments |
4-15-13
Chinese Xinhua News Agency reported last week that one line of the Beijing subway system is beginning to introduce soda machines that accept mobile payments. Payments for the vending machines, deployed at two stations on Beijing Metro Line 4, are run by payment processor Alipay. |
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| WorldPay successfully raises $1billion of new loans, Gets OK to Sell U.S. Unit |
4-12-13
British payment processing company WorldPay has successfully raised a new 700 million pound-equivalent ($1.08 billion) loan that will be used in part to pay a dividend to private equity owners that have also received permission to sell WorldPay's US business, bankers said. |
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| PayPal acquires 'growth-hacking' startup Iron Pearl |
4-12-13
PayPal said on Thursday it acquired start-up Iron Pearl, bringing noted "growth hackers" Stan Chudnovsky and James Currier on board to help the online payments service expand more quickly. |
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| Test Run: What Mobile Payments Companies Can Learn From Chipotle |
4-12-13
The lingering problem with mobile payments is that it’s usually no more convenient to pay with a phone instead of cash or credit card. But a recent trip to a franchise of Chipotle Mexican Grill in Manhattan was a rare and shining moment where paying with a phone was frictionless and actually sped things up. |
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| Financial sector unconvinced about mobile payments |
4-12-13
Senior executives from the financial sector are split over the extent to which mobile payment technology has failed to take off – and what they can do to fix it. |
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| Visa, MasterCard Judge Asked to Approve Settlement, Fees |
4-12-13
Lawyers for plaintiffs in a Visa Inc. and MasterCard Inc. antitrust case over interchange fees asked for final approval of a settlement along with $720 million in legal fees and $27 million in expenses. |
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| Mobile payments raise security concerns |
4-12-13
Mobile payments technology, over time, could have a profound impact on the way products are sold, bills are paid, and money is transferred around the world. But some of the specialists who look at the new technology say they have unanswered questions about the security and privacy issues tied to the payments format. |
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| Online Payments Contribute to ACH Growth |
4-11-13
The total number of ACH transactions grew 4.19 percent in 2012 to more than 21 billion and online ACH transactions increased more than 10 percent during the same time period, according to NACHA, the Herndon, Va.-based organization that manages the ACH network. |
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| Merchants Using Interchange-Plus Pricing Continue to Overpay |
4-11-13
If you have been reading my articles over the last two years, you know that I am a huge proponent of interchange plus pricing for credit card processing. However, you also know from my articles that interchange plus pricing does not automatically mean your business has been priced correctly and competitively. |
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| EMV Implementation: Who Is Ready? |
4-9-13
With EMV deadlines approaching, merchants, acquirers, issuers and consumers are all going to be affected as new merchant terminals and messaging protocols must be developed and customers need to be educated about what EMV will mean for them. |
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| EMV Migration Forum Continues to Support the U.S. Move to EMV Chip With Significant Working Committe |
4-9-13
Following its March meeting, the EMV Migration Forum announced significant progress in Working Committee projects to support the U.S. payments ecosystem’s move to EMV chip payments. |
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| LevelUp CEO: ‘We Aren’t Running Out of Cash’ |
4-4-13
Boston-based mobile payments and loyalty provider LevelUp could be struggling for cash, despite closing on the second half of a $21 million round only eight months ago, according to a published report citing former employees and VCs. |
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| Report: Mobile Sales to Surge, Adoption Varies by Retail Segment |
4-4-13
CardNotPresent.com, antifraud technology provider Kount and payments consultancy The Fraud Practice yesterday announced the results of a survey of merchants and service providers describing their thoughts on mobile payments and their readiness to address fraud in the mobile channel. Overall, respondents believe mobile revenue will grow substantially, but projections about how much and how they are addressing fraud in the channel vary substantially. |
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| Online fraud costs e-retailers $3.5 billion in 2012 |
3-28-13
Retailers’ revenue lost to online fraud increased over the past two years to reach an estimated $3.5 billion, up 3% from $3.4 billion in 2011 and 30% from $2.7 billion in 2010, CyberSource Corp., a provider of payment processing and risk management services, says in its 2013 Online Fraud Report. |
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| Showrooming Response Garners Store Owner Global—and Unwanted—Attention |
3-28-13
Celiac Supplies, a gluten-free shop near Brisbane, generated global attention after a sign announcing a $5 “just looking” fee ended up posted on the social news and entertainment Website Reddit. |
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| Sionic Mobile debuts Starbucks-style mobile payments for national retailers |
3-28-13
Knowing a good thing when it sees one, mobile payments and rewards firm Sionic Mobile has launched Ion Rewards, a smartphone app for Apple and Android mobile devices that enables consumers to pay with their mobile phones in a similar way at an array of national retailers. |
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| U.K. Government Seeks Input on Proposed Payments Regulator |
3-28-13
The UK Treasury, which began looking at new ways to regulate the payments industry last summer when the UK Payments Council ran into criticism for the way it handled a proposal to eliminate checks in the country, evaluated several approaches and concluded it needs to create a new economic regulator with responsibility for the U.K.’s payment systems. |
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| New iPhone Security Exploits Undermine Trust In Apple's Mobile Payment Ambitions |
3-23-13
Apple introduces two factor authentication for Apple Ids two years after Google; another in a series of lock screen exploits makes it possible to reset a user’s password using only their email address and birthdate; the only protection against the exploit is to activate the two factor authentication; many users found themselves in line with a three day wait to add the authentication to their accounts. |
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