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Author archives: Kaye Skinner

Russia backs down on Visa and MasterCard deadline

Russia’s Central Bank is preparing to abandon its deadline for Visa and MasterCard to pay transaction security deposits because neither has yet selected a partner to process cards in Russia next year, according to a report in Russian business daily Vedomosti. “Under current law, the systems must pay security deposits equalling 25% of their average daily turnover to the central bank by… Continue reading >>

US EMV cards to top 575 million by 2015

More than 575 million US EMV payment cards will be in issue by the end of next year, according to a statement issued jointly from Visa and MasterCard on Wednesday (13/08/2014). That number is partially based on EMV shipment plans from nine key card issuers: Bank of America, Capital One, Chase, Citi, Discover, Independent Community Bankers of America (representing issuing members), Navy Federal Credit Union, US… Continue reading >>

Amazon launches mPOS

In a widely anticipated move, Amazon.com has unveiled a $10 mobile point of sale device (mPOS) and mobile app for brick-and-mortar businesses, marking the latest step by the US online retailer to expand its presence in the physical world. The move places Amazon in a crowded market, including startup Square, which popularized a payments dongle that allowed small- and mid-sized… Continue reading >>

ACI Worldwide completes ReD acquisition

ACI Worldwide announced that it has completed the acquisition of Retail Decisions (ReD), a leader in fraud prevention solutions.  Under the terms of the agreement, ACI Worldwide acquired ReD for an all-cash purchase price of $205 million. UK-based ReD is a leading e-commerce and fraud prevention company serving the payments industry. Its suite of solutions helps customers drive up revenues… Continue reading >>

SPECTRA Technologies achieves PCI PTS 4.0 for CREON terminal

SPECTRA Technologies has achieved the approval of the highest level of security requirement, PCI PIN Transaction Security (PTS) 4.0., in its payment terminal CREON. SPECTRA has become the world’s second vendor (first in Asia) to receive the latest PCI PTS 4.0 certification. The PCI PTS 4.0 certification applies globally and focuses on increasing the robustness of devices by requiring compliance to the… Continue reading >>

First Data acquires Gyft

First Data has acquired Gyft, a platform offering a mobile app that allows consumers to organize, shop for, and send gift cards to others. Gyft’s service has expanded from a mobile gift card wallet only enabled for iOS to Android devices and the Internet, while accommodating cards from more than 200 merchants. First Data clients, which include more than 300… Continue reading >>

Retail malware: PCI-DSS is part of the problem

When the Payments Card Industry Data Security Program (PCI-DSS) was first introduced in 2004, the move was in response to a series of breaches that demonstrated how exposed credit and debit card information could be at retailers, large and small, that hadn’t properly considered cyber security. The standard, which has been widely criticised as a prescriptive and expensive tick-box exercise,… Continue reading >>

Merchants demand integrated POS

A growing number of merchants want more from their point of sale (POS) systems than basic payment processing. Instead of just a terminal, today’s POS is packed with software applications that enable store owners to manage their entire business on the same device they use to accept payments A number of factors are driving the surge in integrated payments –… Continue reading >>

Cyber crime costs UK economy £6.8 billion

The cost of cyber crime to the UK economy amounted to $11.4 billion (£6.8 billion) in 2013, or 0.16% of the country’s GDP, a report from the Centre for Strategic and International Studies (CSIS) shows. The research, sponsored by internet security company McAfee, reveals that the blow cyber crime deals to the global economy costs about $445 billion (£266 billion)… Continue reading >>

Point of Sale (POS) forecast report

At 93% of total US retail dollar volume, the point of sale (POS) retail market towers above the online market and will continue to do so for years to come. But the growing popularity of the digital realm has fundamentally altered the nature of the POS, as brick-and-mortar retailers have had to embrace elements of mobile and online channels in… Continue reading >>