Merchant awareness is not keeping pace with mobile fraud growth, and the support for the mobile channel is not meeting predictions and expectations. In addition, concerns over the implementation around new payment methods such as Apple Pay have risen.
The global mobile money market is projected to grow from $12.34 billion in 2014 to $78.02 billion by 2019, at a Compound Annual Growth Rate (CAGR) of 44.6%. In the year 2007 mobile money has evolved from providing payment transactions though Short Messaging Services (SMS) and Direct Mobile Billing to the more contemporary Near Field Communication (NFC)/ Smart Card transactions.
FICO TRIAD, a cloud-based version of its account management solution is now available as a hosted solution on the FICO Analytic Cloud. With FICO TRIAD Cloud Edition, credit grantors can test, automate and improve decisions for credit and debit cards, deposit accounts, loans, auto financing and other credit products.
Paris-based Ingenico has snagged a big fish in the Quick Service Restaurant (QSR) business. Long John Silver’s, the largest U.S. QSR seafood chain opted to upgrade its payments infrastructure to Ingenico Group’s EMV- and NFC-ready payment terminals to support its upcoming transition to the EMV payment standard in the U.S.
UK-based Trustonic and CN-based Mobeewave have joined hands to provide quicker and safer contactless payments for both merchants and consumers with super secure mPOS. The partnership of the two companies will allow Mobeewave-enabled NFC devices to reach best-in-class security level for accepting contactless transactions with a mobile.
Discover has launched a new cardholders feature that acts like an on/off switch to stop new purchases on their accounts, from a mobile device, online or over the phone. The new innovative Freeze It feature adds another layer of protection to Discover’s continued efforts to increase cardmember security and help prevent fraud.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Amit Zuckerman, Executive Vice President and President of Global Operations and Brink’s Global Services.
The majority of retailers accepting credit cards are still vulnerable to the newest threat to accepting credit cards from consumers. Researchers from the Cisco Security Solutions team have dubbed the latest malware to attack point-of-sales (POS) systems PoSeidon.
CardWeb.com’s CardData database of Company Profiles features POS software provider TouchSuite.
Synchrony Financial has inked two private-label card deals this week with The Pep Boys and Guitar Center. The Pep Boys card also delivers added value by providing a convenient way to pay for gas and for use at thousands of CareCareONESM dealers nationwide. Synchrony will work with Guitar Center, Musician’s Friend and Woodwind & Brasswind to offer special financing options.
CardWeb.com’s CardData Reports today features the inaugural Middle Market Power Index from American Express and Dun & Bradstreet. Using Dun & Bradstreet’s proprietary databases of commercially-active U.S. firms, the report analyzes the characteristics and economic impact of middle market enterprises”defined as businesses generating between $10 million and $1 billion in revenues.
Slightly more than one in five dollars (21%) of U.S. business revenues come from the middle market, and these firms employ over one in four workers (28%) in the private sector. Middle market companies have led job growth since 2008, with a 4.4% increase in private sector employment”outperforming both smaller businesses (less than $10 million in revenues) and the largest companies (more than $1 billion in revenues).