'They're strangers to the idea of the physical card'

Today's younger generation is being trained to be tomorrow's mobile payment users, says George Wallner, CTO of Loop. "If they can't do something on their…

PIN debit already developed for mobile

George Wallner describes the simple one-step PIN solution already developed by the mobile industry. (From the ATM & Mobile Executive Summit.)

Will MCX benefit small merchants?

A question is asked about whether the closed nature of MCX runs contrary to the National Restaurant Association's open philosophy. "A lot of the principles…

Card data from Target breach used in counterfeit card spending spree

January 30, 2014

A Mexican man and woman arrested early this week on charges of credit- and debit-card fraud were carrying 100 counterfeit cards striped with data stolen in the…

How secure are cards on mobile phones?

"Attacking a phone — especially if it has a piece of hardware to securely store the card data — is not a very rewarding process for a hacker." (George Wallner…

How often are data breaches really reported?

by Kevin Christensen — Vice President, Audit, SHAZAM

Many Target customers are upset, and understandably so. In their view, the retailer did not do enough to protect their private information from the crooks.

MasterCard: Why can't government regulatory agencies work together?

U.S. government agencies must synthesize their payment regulations, says MasterCard. A panel of several agency representatives tries to defend the complex U.S.

Senators propose hearings on Target data breach

by Terry Dooley — SVP & CIO, ITS, Inc

Following the recent Target data breach, three U.S. Senators are pushing lawmakers to assemble to discuss the future of cyber security standards for businesses…

Card fraud: The target on the US market's back

After a widely reported Target breach, consumers are being schooled in realities the ATM industry has known for some time.

On-board biometrics: The next-gen ID card?

January 16, 2014

Oslo, Norway-based Zwipe has developed a biometric card that reads the user's fingerprint, activating in less than a second, a company news release said. Users…

Will uncertainty about debit routing delay MasterCard EMV dates?

January 14, 2014

Ever since the July 31, 2013, ruling by Judge Richard Leon that struck down not only the Fed's fee cap rules but also its debit routing scheme, the payments…

Credit card, prepaid spending up in December

January 13, 2014

Payments processor First Data Corp. has released its First Data SpendTrend analysis for the period of Dec. 3–30, 2013, as compared with Dec. 4–31, 2012.

ATMs really do matter to MasterCard

Contrary to common opinion, "ATM revenue matters to MasterCard." So says Peter Shortall of MasterCard Advisors. (From a panel at the ATM & Mobile Executive…

Report: Competition heats up between local, national debit networks

January 9, 2014

A new report from Mercator Advisory Group, "National Debit Networks: When Global Goes Local," offers an understanding of national debit networks, the rationale…

MasterCard acquires Turkish payment solutions provider

January 8, 2014

MasterCard has announced the completion of its acquisition of Provus Bilisim Hizmetleri A.S., a Turkish independent payment solution and processing provider.

Does the U.S. government want cash out of the way, or not?

Leland Englebardt of MasterCard confronts a government interagency panel on why they seem to be warm on cash, when the cost of cash is so high for them. "I…

NRF files formal appeal of controversial antitrust ruling

January 3, 2014

Two weeks before Christmas, when the ruling in a controversial antitrust lawsuit settlement covering credit card swipe fees came down in favor of Visa and…

Could changes in the credit card world increase debit use?

by Terry Dooley — SVP & CIO, ITS, Inc

Shifts in both consumer and lender behavior have set off several trends in the credit card marketplace. American consumers are paying down credit card debt…

40M cards compromised at Target: Coming to your ATM soon?

December 19, 2013

Target Corp. has released a statement acknowledging a massive card data breach between Nov. 27 and Dec. 15, and saying that compromised data could include…

Judge approves MasterCard, Visa swipe fee settlement

December 13, 2013

A federal judge today approved a settlement in the class action suit between merchants and card networks Visa and MasterCard over alleged fixing of merchant…