The Target breach set off a $70 billion IT security spending spree among major companies hoping to avoid similar catastrophes, 2014 has so far seen more customer data stolen than in any previous year.
About six out of ten Americans plan to purchase gift cards – the top item on consumers’ shopping lists – this year, according to Accenture’s 2014 Holiday Shopping Survey. Boost Mobile Wallet and Sprint Money Express, powered by Wipit, provide consumers an easy way to make payments from their smartphone or prepaid Visa or MasterCard with no credit check or monthly fees.
CellPoint Mobile announced a converged payments solution that securely and seamlessly processes passengers’ mobile payments and digital transactions, regardless of mobile device or the disparate array of underlying data sources and mobile payment technologies, including ApplePay, PayPal, MCX, credit-debit cards and others.
China UnionPay (CUP) transaction volume continues to explode racking up a stunning estimated 56% increase in 2014, following a solid gain of 48% in 2013. This month UnionPay International, the international business arm of China UnionPay announced special privileges for UnionPay cardholders at 20 global tourist cities and 10 resort islands, providing its customers with discounts of up to 15%.
Nearly 96% of the world’s population is mobile or about 7 billion. The awareness of the value of personal data is growing while solutions to manage usernames and passwords become more cumbersome and the use of biometric data to authenticate access will become more widely implemented.
GPShopper reports over 10% of client app usage on Black Friday occurred in-store. Furthermore, this in-store app usage actually converted mCommerce sales at double the rate of other users.
BitPay has integrated with Xsolla, a well-known billing platform that helps game developers monetize and improve conversion. Big gaming companies like Twitch and Nexon have already started accepting bitcoin as a reliable in-game payment method.
San Francisco-based Revel Systems has secured a $1.2 million grant from Invest Northern Ireland to open a UK sales and operations center in Belfast. The Revel platform includes complete front-end order entry, POS system and payment processing, back-end personnel scheduling, time clock and payroll, inventory management, comprehensive product/menu management and advanced reporting to successfully measure and optimize business performance.
Unisys experts predict the widespread publicity of recent large data breaches at major retailers, U.S. consumers, retailers and financial institutions will not readily embrace the use of chip-embedded credit cards requiring users to enter personal identification numbers when making a transaction.
The Google Cloud Platform has been validated for compliance with PCI DSS. The standard will enable our customers to hold, process, or exchange cardholder information from any branded credit card on Google Cloud Platform.
Bankrate is acquiring Wallaby Financial. Wallaby’s proprietary CardBase database includes more than 2,400 credit cards offered by over 500 financial institutions and is the ideal companion for every digital wallet solution.
Citi Ventures has formed a partnership with Plug and Play Tech Center to expand Citi’s accelerator efforts in the U.S., Germany, Singapore, Brazil and Spain. This program will utilize Citi’s global lab network while building on its first FinTech accelerator, launched in Tel Aviv, Israel in 2013.