Economy

It’s time for the Payment Card Industry Security Standards Council to work with acquirers to provide merchants with “PCI in a box,” says Stephen Orfei, the council’s new general manager

Apple's long-anticipated move into mobile payments seemed to cover all the bases — Apple Pay will launch with the support of major banks, card networks and retailers. But there were several things that didn't make it into the first version of its mobile wallet.

"What you are seeing is a company like Apple, representing 40 percent of operating system penetration, helping introduce [tokenization] for us in a way that consumers will find comfortable and easy to adopt," said Matthew Dill, Visa's senior vice president and head of innovation and strategic partnerships.

The vision that Apple’s founder Steve Jobs once had of a new type of mobile phone that could become so instrumental and integrated into people’s lives that they’d rather leave their wallet at home than their iPhone is starting to take shape.

The banks involved in Apple's mobile payment platform cite the enhanced security, intuitive user experience and brand name. Even if they sacrifice fees, they could make it up on volume.

Apple Inc. has officially unveiled Apple Pay, a mobile payment system in its upcoming line of smartphones and its smartwatch, using a model that involves legacy payment companies but adds a new spin.

Apriva says it has “future-proofed” its services for ISOs by connecting to a digital currency gateway and developing a universal POS application.

Apple has officially unveiled Apple Pay, a new mobile payment system in its upcoming line of smartphones and its smartwatch, using a model that involves legacy payment companies but adds a new spin.

The unveiling of the next iPhone is imminent, and with it Apple is expected to announce plans for a mobile payment system with the support of the major card networks, retailers and banks. But what, exactly, would go into such a system?

Merchant acquirers and processors are looking at a far different payments landscape in light of recent and anticipated developments from the Merchant Customer Exchange, Apple, Amazon.com and other companies.

The telco-driven Isis mobile wallet will now be called Softcard, a name chosen to avoid confusion and association with a militant group in the Middle East that is often referred to as "ISIS."

For Apple, the timing couldn't be worse to launch a mobile wallet. Mobile wallets can be a tough sell for many consumers, and brand image is a key element in winning their trust.

Beer and wine are often used to lower inhibitions about anything new. Why should payment technology be any different? Many companies that manufacture or sell alcohol are at the forefront of payments innovation.

Square Cash, a person-to-person payment service Square launched in October 2013, has been redesigned to become more useful as an app-based product.

As the acquiring business becomes increasingly complex, it’s more important than ever for ISOs to recruit, nurture and retain the best independent sales agents, a new study shows.

The Backoff malware that has attacked point of sale systems at hundreds of businesses may accelerate adoption of EMV "chip and PIN" cards and two-factor authentication.

As payment technology pushes into the future, innovators are coming up with unexpected ways to pay. Whether this means attaching technology to animals or sewing it into our clothing, many of these products are a leap beyond the ordinary payment card.

Almare Gelato Italiano accepts many alternative payment methods, and hasn't paid a dime for them because its vendors want a taste of the foot traffic at store's prime location in downtown Berkeley, Calif.