Retailers

Efforts to create a common set of requirements for so-called “end-to-end” encryption moved forward last week when the Secure POS Vendor Alliance released its End-To-End Encryption Security Requirements.

Payment processor Elavon Inc. announced June 8 it has signed agreements with San Diego-based Semtek Innovative Solutions Corp. and Palo Alto, Calif.-based Voltage Security Inc., two competitors that provide advanced encryption services. Atlanta-based Elavon also offers its own advanced encryption products to merchants.

At first glance, the new encryption technology now sweeping the payments industry looks like a bonanza for ISOs and agents. On second glance, the situation appears more complicated.

U.S. Sen. Dick Durbin, D-Ill., on June 9 made a brief appearance before the Senate Judiciary Committee Subcommittee on Antitrust, Competition Policy and Consumer Rights, warning lawmakers of the need to investigate possible collusion between Visa Inc. and MasterCard Worldwide in the setting credit and debit card interchange rates.

Merchant acquirers that fail to follow Visa Inc.’s safeguards to prevent processing certain high-risk merchants’ transactions face paying $100 per charge-back on top of regular penalty fees under a program Visa announced to its acquirers in March.

More than 100 Ingenico S.A. point-of-sale terminals are afloat on 14 cruise ships operated by Costa Cruises as part of an initiative to enable travelers to use a “Costa Card” for their onboard purchases, Ingenico recently announced.

Efforts to create a common set of requirements for so-called “end-to-end” encryption moved forward last week when the Secure POS Vendor Alliance released its End-To-End Encryption Security Requirements.

The road to the widespread rollout and adoption of Near Field Communication mobile payments may be littered with potholes and speed bumps, but payments-industry executives still hope the technology can make a significant splash in the United States.

EMV Version Of VeriFone’s PayWare Mobile Service Coming

VeriFone Systems Inc.’s taxi business is taking on increased importance for the point-of-sale terminal maker.

Smooth talk goes only so far. For long-term success at signing up merchants for card services, sales agents should develop a sound general knowledge of how interchange rates work, ISOs agree.

Best Buy In Turkey Opts For Ingenico Shared POS Service

VeriFone Systems Inc.’s new PIN-entry device authentication service adds another element of security by periodically monitoring PIN pads to ensure they are legitimate, the terminal maker announced May 25.

With restaurants accounting for nearly 35% of Heartland Payment Systems Inc.’s merchant base, the payment processor thought it appropriate to introduce its advanced payment-encryption technology this week at the National Restaurant Association’s show in Chicago.

VeriFone Systems Inc.’s taxi business is taking on increased importance for the point-of-sale terminal maker.

Though legislation that would permit merchants to set minimum and maximum limits on card transactions remains pending in Congress, it is gaining a lot of attention among merchant acquirers and ISOs.

Deutsche Card Services GmbH this week signed an agreement to become the acquirer and service provider supporting Media-Saturn Holdings GmbH’s online commerce. The Germany-based electronics retailer says the deal will enable it to accept transactions online more securely.

VeriFone Systems Inc. on May 26 reported net income of $20.2 million for the fiscal second quarter ended April 30, an 89% increase from $10.7 million the point-of-sale terminal maker generated during the same period last year.

VeriFone Systems Inc.’s new PIN-entry device authentication service adds another element of security by periodically monitoring PIN pads to ensure they are legitimate, the terminal maker announced May 25.

Many acquirers and ISOs view smartphone-based wireless card-acceptance products as a means to reach yet-undiscovered legions of mobile merchants that do not yet take cards for payment. And judging from the discussions among peers at recent industry conferences and the spate of products and services entering the market, the topic is at the forefront of many business plans.