Chargebacks Remain a Major Nuisance for U.S. Merchants

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] For Visa and MasterCard transactions, chargebacks merchants receive are, on average, 1.6 basis points (bps) of sales number and 6.5 bps of sales value. About 70% to 80% of chargebacks are resolved as merchant liability. The most common chargeback reason is fraud, which accounts for about 50% of the total chargebacks.…

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Verifone Inks a Major Payment Gateway Deal

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Verifone has inked a deal to acquire AJB Software Design, a Toronto-based provider of payment gateway and switching solutions for large merchants in the U.S. and Canada. Approximately 150 large retailers in the U.S. and Canada rely on AJB’s on-premise gateway and other solutions to connect nearly a half million payment…

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Holiday E-Commerce Hit $550MM Reports eBay Enterprise

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] E-commerce sales fulfilled by stores reached $515 million during the holiday season – a 62% increase from 2014 – which can be largely attributed to consumers truly embracing a seamless shopping experience, particularly during the holiday season. eBay Enterprise says its latest data shows ecommerce order volumes fulfilled by stores increased…

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Special Breaking News Mentions in Today’s CardFlash

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] CardFlash.com Breaking News: ELO (iMobile3); INGENICO (ePayments); ACI (holiday fraud); and USAEPAY (POS). ELO – Elo, a leading global supplier of touchscreen solutions announced iMobile3, a mobile applications platform provider, has certified two Elo PayPoint point of sale (POS) systems for use with its Merchant-In-A-Box software platform. iMobile3’s Merchant-In-A-Box offerings combine…

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Citi Credit Card Profits Sag as Portfolio Stagnates

Citi Credit Card Profits Sag as Portfolio Stagnates

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Citibank North America branded credit card profits declined 19.0% and Citi retail cards declined 5.5% year-on-year (YOY) in the fourth quarter (4Q/15). Citi branded cards continue to experience no growth in outstandings and impacted by increased acquisition and rewards costs. 
 EOP outstandings declined 0.4% YOY from $67.5 billion one-year ago…

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US Bank Posts Positive Gains in Consumer+Biz Cards

US Bank Posts Positive Gains in Consumer+Biz Cards

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] U.S. Bank (USB) posted a 4.0% year-on-year (YOY) gain in consumer and commercial purchase dollar volume (PDV) for the fourth quarter (4Q/15) as outstandings increased 4.4% YOY. Net income for U.S. Bank Payment Services, which includes cards, consumer lines of credit and merchant processing, increased 7.2% YOY to $326 million. PDV…

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First Data Unveils New Clover Reader for Mobile Devices

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] First Data is expanding its suite of Clover business management solutions with an EMV-enabled card reader that plugs into an iOS or Android tablet or smartphone and works with a Wi-Fi or cellular connection. The new Clover Go enables business owners of all sizes to seamlessly and securely accept payments outside…

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Diebold Concept: ATM + NFC + Self Checkout

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Diebold is introducing a new mobile-enabled self-checkout concept. The new concept combines the core capabilities of the automated teller machine (ATM) with the convenience of contactless mobile payments and self-checkout. Introducing simplicity to the in-store shopping experience, the new concept enables consumers to scan items they want to purchase while shopping…

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Aila Intros iPad and iPod POS Interactive Kiosks

Aila Intros iPad and iPod POS Interactive Kiosks

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] MA-based Aila Technologies has unveiled a new iPad Pro-based Interactive Kiosk for in-store retail shoppers and an iPod Touch 6-based handheld device for sales associates. Aila’s Interactive Kiosks and Mobile Imagers feature the company’s TrueScan technology, which delivers clear, reliable scanning without the bulk of traditional scanners, giving Aila’s products the…

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MasterCard Now Offered by All Major Canadian Banks

MasterCard Now Offered by All Major Canadian Banks

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Next week MasterCard will become the only payment network in Canada to be offered by all major financial institutions. Desjardins, a Visa issuer, is adding two MasterCards for the first time. On January 18, 2016, Desjardins will begin issuing MasterCard credit cards. Desjardins currently has a portfolio of over 5.5 million…

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Member Solutions Overhauls its myVolo POS Module

Member Solutions Overhauls its myVolo POS Module

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] PA-based Member Solutions is rolling-out a brand-new Point of Sale (POS) module for its myVolo online business management software. Member Solutions provides full-service membership billing, payment processing, business management software and advisory services for Martial Arts, Fitness and Health-related businesses. The release features an overhauled POS interface — bringing a completely…

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IBM Acquires a Real-Time Payment Fraud Analytics Engine

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] IBM has acquired a German company specializing in real-time analytics to help combat payment fraud. IRIS Analytics provides a real-time fraud analytics engine that leverages machine learning to generate rapid anti-fraud models while also supporting the creation and modification of ad-hoc models, proven successful on various sized payment platforms. Acting as…

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