Technology

Merchants expect that payment card fraud will migrate to e-commerce as the U.S. gets more protection at the physical point of sale through EMV chip cards. That means chargebacks, already a problem in physical retail, will escalate in e-commerce as well.

Nacha's push for faster payments is largely positive, but banks still stand to lose position in the business to business payments market.

The use of e-commerce payments technology as a portal to other business services is advancing rapidly, requiring point of sale companies to constantly add new tools that merchants and developers can use to add muscle to transaction venues.

One of the stumbling blocks with the global expansion of digital wallets is the resistance to payment cards in many countries, including India, China and Brazil, notes Forrester Research in a recent report.

San Diego-based Mitek, a firm that specializes in capturing mobile data for customer acquisition, has acquired Dutch identity verification company IDchecker.

U.S. acquirers are looking to expand their business in emerging markets, where small merchants are starting to enter the commercial framework.

China UnionPay Co. introduced the nation’s first wearable payment product as the giant of the Chinese industry moves to defend its turf from other service providers.

Identity thieves stole information on 104,000 U.S. taxpayers from the IRS website and used the data to file fake tax returns that yielded as much as $50 million in refunds, agency Commissioner John Koskinen said.

One of the more difficult challenges of the U.S. EMV conversion is getting the word out, especially given the urgency of the October deadline the card networks set for a fraud liability shift.

Visa and MasterCard's support for host card emulation (HCE) is a boost for mobile pay, though there are still security concerns.