Category: News

Garmin adds FitPay to its smartwatch

Garmin International’s newest smartwatch now supports contactless payments through a partnership with Fit Pay Inc. Olathe, Kan.-based GPS device-maker Garmin has licensed the FitPay white-label contactless payments service for Garmin Pay, available with its Vivoactive 3 smartwatch to support payments at Near Field Communication-enabled terminals, Garmin said in a Friday press release. Bloomberg News Users…
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November 18, 2017 0

Token puts fake names on digital payment cards to thwart fraud

Consumers are increasingly concerned about payment card fraud, but it remains to be seen how much work they’re willing to do to protect themselves when they’re not directly liable for monetary losses from stolen cards. Token Payments Inc. is going to test consumers’ interest in helping to block card fraud by launching a mobile app…
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November 16, 2017 0

11.15.17 Your morning briefing

The information you need to start your day, from PaymentsSource and around the Web: Cyberpay voyeurs: Venmo’s social payment app has been popular with younger consumers for years, and its growth is putting wind in parent PayPal’s sails. But there’s an unintended use, as people scroll the app’s public activity feed to track the buying…
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November 15, 2017 0

11.14.17 Your morning briefing

The information you need to start your day, from PaymentsSource and around the Web: Mastercard’s hub in Sydney: Nearly half of Mastercard’s 800 staff in Australia are technology engineers, leading the card network to open a technology and innovation in Sydney, its only such facility in the southern hemisphere, reports Australian Financial Review. The center…
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November 14, 2017 0

11.13.17 Your morning briefing

The information you need to start your day, from PaymentsSource and around the Web: A record for Singles Day: Singles Day, or China’s version of Black Friday, has smashed records for the second year in a row, reaching $25.3 billion, or 40% higher than 2016’s total of about $18 billion, reports The New York Times.…
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November 13, 2017 0

Washington can’t save community banks. It can’t even save itself

WASHINGTON — It was the kind of victory that appeared ripe for President Trump and Republicans to celebrate — the repeal of a rule that bankers and credit unions agreed would only raise costs on customers. The passage of a repeal bill was particularly noteworthy given that the president has struggled to see his agenda…
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November 13, 2017 0

Successful issuers match retailers in personalizing service

Personalization has become a customer expectation. No matter where they go, what device they are using or how they choose to interact with brands, consumers are getting accustomed to seeing “intelligent offers” that relate directly to them and their circumstances. The retail and hospitality industries are leaving no stone unturned in living up to these…
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November 11, 2017 0

The internet name many banks are afraid to use

After Farmers & Merchants State Bank switched its internet domain from dot-com to dot-bank, the Archbold, Ohio-based bank received a handful of calls from customers wondering where its website had gone. The $1 billion-asset bank also noted some assumed when a sentence ended “.bank.” in its promotional materials, the last period was part of the…
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November 11, 2017 0

Equifax haunted by cyber attack as costs, lawsuits increase

Equifax Inc.’s massive data breach is proving costly. Extra spending on security and lawyers in the wake of the hacking helped push third-quarter operating expenses to the highest on record, the Atlanta-based company said Thursday in a statement. The company also said it’s facing more than 240 class-action lawsuits and more than 60 regulatory or…
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November 10, 2017 0

A well-rounded Square takes another crack at consumer payments

Over the years, Square has evolved from a supplier of simple card readers to a provider of diverse omnichannel services. But the consumer market has always eluded it. Starting in 2011, Square debuted Card Case, which allowed consumers to store a credit or debit card with Square after using it at a Square merchant. The…
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November 9, 2017 0