Virtual currency dominates day one of Money 20/20 conference

by Will Hernandez — Editor, NetWorld Media Group

Ben Lawsky, New York's superintendent of financial services, addressed the status of the state's controversial BitLicense regulatory framework.

NFC users to top half a billion by 2019

November 3, 2014

NFC-based Apple Pay and host card emulation technology will drive awareness and acceptance, a Juniper Research report says.

Amex intros tokenization, HCE services

November 3, 2014

The token service is available in the US, and international rollout is expected to begin in 2015. HCE specifications are available today globally.

FIME adds new features to SAVVI EMV terminal testing platform

October 31, 2014

SAVVI 2.0 introduces a simplified user interface, online test card maintenance capabilities, and programmable test cards.

Two merchants pull the plug on NFC (and Apple Pay) as MCX looms

by Will Hernandez — Editor, NetWorld Media Group

CVS and Rite Aid turned off NFC support last week, raising the ire of Apple supporters who vowed to take their business to Walgreens.

Using cash for small purchases shows a consumer's age

by Dan Kramer — Senior Vice President, Marketing & Merchant Servic, SHAZAM

A recent study found that consumers under age 30 are much more likely to use plastic even to pay for purchases under $5.

Card data theft the No. 1 worry among Americans, Gallup poll says

October 30, 2014

Gallup found that 69 percent of Americans worry about having card information stolen in a retail data breach — and suggested that this fear could increase…

FIS, CSCU team up to extend fraud protection solution to CUs

October 28, 2014

Compromise Manager promises timely card blocking, reduced administration costs, and automated cardholder alerts for small and midsize credit unions.

FIME urges financial industry to add NFC along with EMV

October 27, 2014

The company says the financial industry should expect growing consumer demand for contactless following the rollout of Apple Pay.

Clearing House announces plan to pursue real-time payments

October 23, 2014

The multiyear project will address gaps in payment processing in order to ensure secure and immediate payment in merchant and consumer sectors.

Apple Pay: A short-term plan for 500 banks?

Costs associated with the Apple partnership might accelerate financial institutions' plans to release their own mobile wallets — perhaps even with some help…

Study: In Europe, low-value cash payments migrating to cards

October 21, 2014

From 2010 to 2012, the number of card payments in western Europe grew by 15 percent, while in central and eastern Europe, they increased by 82 percent.

Rototype cashless ATM a boon to Nigerian banks, merchants

October 21, 2014

Shoppers pay for purchases using their ATM card in the machine, which instantaneously debits a payment to the merchant's account.

Half of US POS terminals will be chip-enabled by end of 2015

October 21, 2014

Massive data breaches in the past year seem to have prodded retailers to take action to curb their potential exposure to losses from fraud.

Obama executive order calls for 'BuySecure' initiative

by Suzanne Cluckey — Owner, Suzanne Cluckey Communications

An executive order from the president directs the government to lead the way in securing financial transactions and sensitive data — and in pushing toward…

SBI rolls out tortuous ATM fee schedule following RBI rule changes

October 16, 2014

For customers with a low average monthly account balance, keeping the rules straight could be frustrating; for those with a heftier balance, they're as simple…

FIME partners with Russian card software provider

October 16, 2014

The relationship will extend FIME EMV migration and certification services to issuing and acquiring banks in the region.

Will EMV lead to more contactless ATMs?

by Terry Dooley — SVP & CIO, ITS, Inc

Some forward-looking independent ATM deployers have begun to develop strategies for implementing contactless ATM transactions.

Denali Alaskan FCU partners with Co-op for ATM access

October 15, 2014

The Co-op ATM program allows the FCU's members to use 30,000 Co-op networked ATMs across Alaska and the lower 48 states.

Prepaid cards rule in September spending; checks see rare increase

October 14, 2014

Total dollar volume was up year-over-year, but month-to-month growth slowed slightly as consumers took a breather between back-to-school and Halloween spending.