Payment technology

MasterCard to make contactless payments standard in Europe by 2020

MasterCard recently said contactless acceptance will be standard by 2020 for European merchants accepting MasterCard and Maestro. Existing point-of-sale terminals must be replaced by  January 1, 2020, at the latest, while new POS terminals must adhere to the new standard upon deployment from January 1, 2016, onwards. “Europeans can... Read More...

One of largest U.S. credit unions selects CU Wallet as mobile provider

One of the country’s largest credit unions recently invested in and selected CU Wallet—the payments industry’s first credit union-focused mobile payments initiative—as its mobile payments and wallet provider. Security Service Federal Credit Union (SSFCU), headquartered in San Antonio, Texas, is one of the 10 largest credit unions in the... Read More...

ETA to host Mobile Payments Day

The Electronic Transactions Association (ETA) recently announced it will host Mobile Payments Day at the end of the month in a joint venture with the Merchant Advisory Group and Federal Communications Bar Association. Mobile Payments Day, which will be held on Sept. 30 at The City Club of Washington, will feature mobile payments companies,... Read More...

Capital One partners with Apple Pay for contactless payments

Capital One said on Tuesday that its customers will have access to Apple Pay, Apple’s new payment service, beginning next month. According to the company, in October, customers can use their debit and credit cards directly from their iPhone 6, iPhone 6 Plus and Apple Watch to make purchases. “Working with Apple, we’re excited to bring... Read More...

2014 NFC World Congress to be held in France

The NFC World Congress will be held later this month in France, bringing together payments companies, entrepreneurs from across the globe and innovative developers for a three-day conference that explores emerging mobile payments technologies. Panels on mobile payment security and deployment of NFC technology worldwide will be held on Sept. 22,... Read More...

ATMIA pushes integration with bitcoin ATM operators

In a newly released position paper, the ATM Industry Association encouraged additional supervision of bitcoin operators, citing a lack of accountability and a potential to be targeted by money launderers and cybercriminals. According to ATMIA, while the future of bitcoin is uncertain, it is a significant development in the payments space and is... Read More...

OT completes acquisition of display card technology creator

Oberthur Technologies (OT) announced on Tuesday the completion of its acquisition of NagraID Security, the developer of patented display card technology. “The acquisition of NagraID Security is an important step for OT in its plan to maintain leadership on its markets,” Didier Lamouche, the president and CEO of OT, said. “We are confident... Read More...

Mobile P2P payments replacing traditional payment forms for millenials

New peer-to-peer (P2P) payment technologies are gradually replacing traditional payment forms among millennial consumers, according to a recent report from Nielsen. Mobile users age 18-34 account for the largest share of mobile payment users—55 percent indicated that they use mobile payment services. Thirty-five percent of mobile payment... Read More...

Square releases updated free money transfer app

Square recently released an updated version of Cash, a free app to request and make cash transfers via mobile phone number or email address. According to the company, users will be able to send and request money--even if the recipient does not have the app—from up to 25 people at one time, streamlining payment collection for large events and... Read More...

Money20/20 event, hackathon to be held in Las Vegas this fall

The Money20/20 conference, which explores trends in payments and innovations within the financial services industry, will be held this fall in Las Vegas and will include participation by more than 2,250 companies. The event, which will be held Nov. 2-6 at the ARIA Resort and Casino, will feature more than 300,000 square feet of showcasing and... Read More...

Ingenico and partners release PCI-certified P2PE, EMV payment solution

Ingenico recently partnered with FreedomPay and ScanSource to release the first PCI-certified point-to-point encryption (P2PE) and EMV payment solution in North America. The new solution, which combines Ingenico’s On-Guard and FreedomPay Commerce platforms, covers EMV and NFC electronic payments, as well as those made with magnetic stripe... Read More...

VeriFone expands taxi payment services to partners in Turkey, Mexico

VeriFone announced on Wednesday plans to expand its in-taxi payments service to include the Turkish capital of Istanbul and Mexico’s Mayan Riviera. According to VeriFone, its full suite of taxi payment services, which include Way2Ride—the company’s award-winning mobile taxi app—will be available to more than 20,000 taxis in the two... Read More...

Heartland Payment Systems acquirers mobile tablet POS platform Leaf

Heartland Payment Systems, the fifth largest payment processor in the U.S., announced on Thursday that it has acquired mobile tablet creator Leaf for an undisclosed amount. According to Heartland, the acquisition demonstrates the company’s commitment to providing a POS platform that simplifies operations for small businesses. Leaf will... Read More...

EMV migration gains footing in U.S.

More than 575 million payment cards in the U.S. will feature EMV chip technology by the end of 2015, according to the Payments Security Task Force (PST), a trade body established to track the EMV migration. “These numbers reflect the significant momentum behind the adoption of EMV chip in the United States,” Ryan McInerney, the president of... Read More...

Western Union expands footprint to Ivory Coast with MTN partnership

Western Union announced on Monday that it has partnered with MTN Group, a mobile telecommunications company operating in Africa, Europe and the Middle East, to launch a new mobile money transfer service in Ivory Coast. Consumers in the country who use MTN’s Mobile Money service will be able to receive a Western Union money transfer... Read More...

Payments Council: Britain leads world in mobile payments industry

A recent report that compared worldwide person-to-person (P2P) mobile payment services showed Britain leads the world market in infrastructure, ownership, speed and customer experience. The report, compiled by the U.K. Payments Council, found Britain’s top spot in the mobile payments market is due in large part to the P2P Paym payments... Read More...

FTC report finds mobile shopping app disclosures inadequate

A new staff report released by the Federal Trade Commission found many consumer disclosures for mobile apps designed to be used in online shopping do not provide shoppers with adequate information. The report—which examined 121 of the most popular apps, including in-store shopping apps and “deal” apps, as well as comparison shopping... Read More...

AmEx, PBZ partner to launch NFC payments pilot in Croatia

American Express recently announced that it has partnered with Croatia’s Privredna Banka Zagreb (PBZ), the second largest bank in the country, to launch a test pilot of an NFC payments system using host card emulation technology. “American Express recognizes that consumers around the world are paying in new and different ways,” Mike... Read More...

Central Bank of Russia to create own national payment system

Russia’s central bank recently said that it would create a national payment card system to compete with Visa and MasterCard without the use of existing infrastructure. The Central Bank of Russia’s press office said the new system is expected to be up and running in 2015, and the first system-branded cards are expected to be issued within a... Read More...

PayByPhone mobile parking payment app available on Amazon products

PayByPhone—an enterprise of PayPoint—recently announced the availability of its mobile parking payment app for Amazon Fire, Kindle Fire and Appstore users. The Fire phone’s NFC capabilities work with PayByPhone’s parking meter stickers in San Francisco and Seattle—the stickers contain electronic chips that store information like the... Read More...

U.S. Bank releases suite of business traveler payment enhancements

U.S. Bank recently announced a new suite of tools aimed at securing, enhancing and streamlining payments made by business travelers. The new capabilities, which will be introduced during the Global Business Travel Association’s annual conference this week, include U.S. Bank Travel VirtualPay, real-time credit limit change capabilities and... Read More...

Visa announces new secure payments offerings for internet devices

Visa announced last week a new suite of offerings aimed at securing payments across a number of internet-connected devices and wearables. Visa Digital Solutions offerings will fall into two categories: support for new methods of payment and technology to protect consumers and facilitate innovation, according to a Visa press release. “Visa... Read More...

MasterCard launches MasterPass technology in Poland

MasterCard extended its global reach even further last week with the introduction of its MasterPass digital wallet technology in Poland. uPaid will be among the first to use the MasterPass platform to power its uPaid wallet. uPaid will switch its current MasterCard Mobile users to the wallet, according to a Mastercard press release. “In... Read More...

NAC issues guidance on EMV migration for ATM operators

The National ATM Council (NAC) issued guidance last week for the U.S. ATM industry on EMV migration, urging operators to ensure that new machines purchased have EMV hardware and software functionality. “EMV is one of the most crucial issues facing the US Independent ATM industry today, and NAC felt a real need to help provide clarification... Read More...

MasterPass digital payments technology goes live in South Africa

MasterCard announced on Tuesday the launch of its MasterPass service in South Africa, which will be the 10th country to gain access to the company’s digital wallet technology. Standard Bank will be the first local bank to offer a digital wallet powered by MasterPass—the app will be available for download for Apple, Android and Blackberry... Read More...

Allied Wallet recognized by Acquisition International for payments

Online payment processor and merchant services provider Allied Wallet was recently named the “Customized Payment Solutions Provider of the Year” in the U.S. by Acquisition International for its small-business online payment solution. Acquisition identifies and recognizes success, innovation and ethics in awarding the title, which is one of... Read More...

BofA Merrill Lynch offers cross-currency payments through online portal

Bank of America Merrill Lynch recently announced that corporate and government clients now have access to low-value, cross-currency payments through the company’s CashPro Online banking portal. “We’re pleased to add this new capability to CashPro Payments and extend the available options that clients have to initiate their cross-border... Read More...

Creditcall CTO offers tips to simplify migration to EMV

Jeremy Gumbley, the chief technology officer at payment service provider Creditcall, recently offered tips to participants in the payment industry to help ease the transition to EMV ahead of the October 2015 liability shift. Gumbley said one of the first steps in migrating to EMV involves the selection of a PIN pad. In order to choose the... Read More...

Medvedev: Russia must cooperate with U.S. card processors

Russian Prime Minister Dmitry Medvedev said earlier this week the Russian government must cooperate with card companies Visa and MasterCard in building the country’s national payment system. "To do this, we have taken a number of steps, including changes in the law on the national payment system... which caused heated discussion,”... Read More...

JetPay Payment Services receives Data Integrity Compliance award

JetPay Payment Services was recently awarded the 2013 Data Integrity Compliance award, which recognizes processors with the highest compliance percentage, by MasterCard International. “JetPay Payment Services has a 15-year record of delivering superior quality service to our business partners,” Trent Voigt, the founder and CEO of JetPay’s... Read More...

Oink to be integrated into Woozworld social network for teens

Virtual Piggy, the provider of family/teen wallet solution Oink, announced an agreement last week that will bring payments to the popular social network Woozworld for teens. Woozworld has more than 25 million registered users; it allows users to gather to socialize and play games with friends. “We’re thrilled to add the Oink technology... Read More...

MasterCard’s MasterPass goes live in Singapore

MasterCard announced on Monday the introduction of its MasterPass digital wallet in Singapore, which will allow the country’s consumers to store payment card information, address books and shipping information for future purchases. “Singapore is already an evolved market for digital payments, and we continue to see great potential for... Read More...

« Previous Stories