American Express has unveiled a suite of solutions designed to enable its card-issuing partners, processors, acquirers and merchants to create a safer online and mobile payments environment for consumers. The new American Express Token Service will meet these needs the Company says.
American Express launched its American Express Token Service allowing its card-issuing partners, processors, acquirers and merchants to offer a safer online and mobile payments environment. With NFC tokens, merchants and digital wallet operators will no longer need to store consumers’ sensitive payment account information in their systems. In addition, tokens can be assigned for use with a specific merchant, transaction type or payment device to provide further protection against fraud. It’s based on EMVCo’s Payment Tokenization Specification and Technical Framework, published earlier this year.
Silicon Valley-based i2c is powering a new Shift Payments’ debit card, which allows consumers to make payments in fiat, digital and alternative currencies. The companies have already collaborated to get test cards to market and are working on a global roll out.
GA-based payment processor TSYS plans to create an open technology environment. The Company says it is partnering with a limited number of new players to simplify the complexity in payments.
VASCO Data Security authentication, electronic signatures, and identity management announced two new DIGIPAS Authenticators with Bluetooth capabilities. The DIGIPASS875 is a smart card reader solution, and the DIGIPASS GO215 is a compact, one-button device offering powerful, portable and flexible two-factor authentication and digital signing.
GlobalOne of Pivotal Payments and a merchant services and global payment processing solutions announced wide release of its Smart Transaction Routing engine.
The mobile marketing and payments platform Yoyo has selected the BlueSnap global payment gateway for its international transactions.
A new online service is being launched enabling the shopping of rates and services with multiple providers on behalf of small business owners.
Digital gifting specialist, CashStar, has added new capabilities to its CashStar 5 omni-channel platform.
U.S. Visa (VS) and MasterCard (MC) credit card U.S. Gross Dollar Volume (GDV) grew 10.7% in the third quarter to $488 billion. VS credit card GDV rose 12.8% while MC rose 6.6%.
Purchase Dollar Volume (PDV) on U.S.-issued debit cards jumped 7.6% year-on-year (Y/Y) in the third quarter of 2014 (Q3/14) to $452 billion, according to CardData.
Credit Unions say The Home Depot data breach cost them dearly, to the tune of $57.4 million. About 7.2 million credit union debit and credit cards were affected by the breach.