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Transaction Trends Online |
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In the December 2009 Issue of Transaction Trends: 
- Sales Incentives That Work
- PCI’s Evolutionary Process
- Brave New World for Payments
- Special Series: Startup Stories, Part 2
- And much more...
Visit the Transaction Trends Web Site
Advertise in Transaction Trends Need to reach the most powerful audience in the acquiring industry? Download our media kit and get started right away! |
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ETA Glossary Online |
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The ETA Encyclopedia of Terminology for the Acquiring Industry is now online! Need a good definition for P2P? Need to know what a Merchant Descriptor is? Our online glossary has the information and its been vetted by industry experts, so you can depend ion it. Give it a try! |
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Featured Articles
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Personix Selected to Provide Edge-to-Edge Photo Capabilities for PAYjr® Cards |
Personix, a business unit of Fiserv, Inc., and PAYjr today announced
they are delivering edge-to-edge photo design options to financial
institutions for teen prepaid cards. This advanced customization allows
the user to have a one-of-a-kind card that is unique to his or her
lifestyle by allowing a personal digital photo printed on the card.
This is a key feature of the new PAYjr Visa Buxx Cards, which are now
available through a partnership announced last week. The PAYjr Visa
Buxx Card is issued by BankFirst, Sioux Falls, SD, pursuant to a
license with Visa U.S.A. Inc.
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Read more...
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Payment terminal maker Hypercom Corp. said today its CEO, William Keiper, is stepping down after two years at the helm and
will resign from the company's board of directors, effective Aug. 15.
Philippe Tartavull, named Hypercom president in
February, added the chief operating officer role to his position effective immediately, according to the company announcement.
Keiper has served as the company's CEO since 2005. Daniel Diethelm, Hypercom chairman, will lead the search for a new CEO.
Until Keiper's successor is named, Diethelm, Tartavull and chief financial officer Thomas Liguori will take over executive responsibilities.
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ATM Group Renews Security Push |
The ATM Industry Association’s
Debit Council says it is renewing its push for better security best
practices at POS terminals, as criminals continue to compromise
cardholder information by targeting out-of-date or improperly
configured POS hardware and software.
According to Fair Isaac, more than
90 percent of card and PIN compromises in 2006 took place either inside
outdated POS terminals or through improperly configured POS software
coupled with poor key management practices.
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Read more...
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Fed Eliminates Another Receipt Requirement |
The Federal Reserve has released a final rule that
eliminates the need to provide consumers with receipts for electronic fund
transfers (EFT) less than $15. This
includes debit card and automated clearinghouse (ACH) transactions.
Under the Electronic Funds Transfer Act and the
implementing regulations known as Reg. E, receipts must be made available at
the time a consumer initiates an EFT.
The new rule modifies that requirement. The change is expected to promote greater adoption of
payment card usage at small dollar applications such as vending machines,
parking meters and public transit systems over the next few years. The regulation will become effective sometime
around August 1.
Additional information
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Visa Requires Level 4 Merchant PCI Compliance Plans by July 31 |
Visa will give aquirers with Level 4 merchants until July 31 to have PCI compliance plans in place. Level 4 merchants handle less than a third of transactions in the Visa system but represent more than 99 percent of the merchants that accept Visa cards. Because the group is so large and relatively less sophisticated, it represents more potential for cardholder data compromises than Level 1, 2, and 3 merchants combined.
The Visa CISP Bulletin—“Level 4 Merchant Compliance Program Requirements”—issued May 14, 2007, provides an outline of what is expected from each acquirer and illustrative guidance on developing a plan. Each compliance plan “must include: (1) a timeline of critical events; (2) a risk-profiling strategy; (3) a merchant education strategy; (4) a compliance strategy; and (5) compliance reporting.”
Many acquires may have already submitted Level 4 compliance plans as part of the PCI Compliance Acceleration Program (CAP); however, those that do not meet the July 31 deadline will be subject to costly risk control measures.
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CyberSource to Buy Authorize.net |
E-payment and risk management firm CyberSource Corporation is to acquire
IP-based payment provider Authorize.Net Holdings.
The stock and cash transaction is valued at approximately US$565 million, as of
the close of the Nasdaq Global Market System on 15 June.
CyberSource, with approximately 20,000 customers, has traditionally focused on
managing payments for mid-sized and enterprise customers. Authorize.Net, with
more than 175,000 customers, has specialized in small businesses.
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Read more...
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