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.
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.
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).
Shopify is a cloud-based commerce platform designed for small and medium-sized businesses is now going public. Shopify currently powers over 160,000 businesses in approximately 150 countries, including: Tesla Motors, Budweiser, Google, Wikipedia, LA Lakers, GoldieBlox, and many more.
Issues in supporting 3D Secure (Verified by Visa and MasterCard SecureCode) in the travel agency distribution channel are coming under the microscope. The second task force focused on improving processes to reduce credit card acceptance costs, including fraud and chargebacks.
Chase reported purchase dollar volume (PDV) in the first quarter of $112.8 billion, up 7.9% year-on-year (Y/Y). The number of active credit card accounts also ticked up to 32.5 million, a 4.8% increase over first quarter 2014.
Wells Fargo Credit card first quarter outstandings were down 3% QOQ to $30.08 billion on seasonality, but up 15% YOY reflecting new account growth and growth in private label and co-brand outstandings driven by the card portfolio acquisition in 4Q14.
Gemato says even if a token is intercepted, its reuse would be very limited, meaning that incidences of ‘cross-channel’ fraud can be significantly reduced. Transaction keys needed for EMV payments can also be replenished on a regular basis, further limiting the validity period of the transaction.