Target Pay Coming Soon

Apple, Android, and Google have their own pay services, where people can make payments directly from their devices. Recently, Wal-Mart joined the bandwagon when they released Walmart Pay. Target is now joining the game, planning to release its own payment service Target Pay later on this year. Although, Target has not decided if the service…

MasterCard Using Artificial Intelligence to Attack False Declines

One of the biggest problems for merchants accepting credit cards is not fraudulent transactions, but rather false declines. Certainly, credit card fraud is costly, but it’s estimated that merchants lose $118 billion due to credit card declines where the transaction is genuine and the customer is not over their limit. It’s estimated that 15% of…

Verifone CEO Comments on the Future of Payments

Ever since its beginnings in the 1980s, Verifone has been known as a major global provider of point-of-sale (POS) technology and innovative solutions for the merchant payments industry. After three decades of being a dominant market player, Verifone is more than just a provider of credit card terminals; the company is seen as a respected…

Fraud Costs Cut in Half Since the Introduction of EMV

Great news for the credit card processing industry: Just one year into the shift towards the Europay, MasterCard and Visa (EMV) system in the United States, and counterfeit fraud costs have been slashed by just over 50%. According to a report issued by credit card giant MasterCard in mid-September, counterfeit fraud costs are being sharply…

FitPay: A Truly Wearable Payment Option

In the fragmented world of mobile payments, one company is taking advantage of unifying existing technologies for the benefit of shoppers. FitPay is a California company that was envisioned by veterans of the mobile payments industry. This innovative tech firm has paid close attention to shoppers who have been largely underwhelmed by “contactless” mobile payments…

More Businesses Than You Think Still Pay By Check

Modern payment methods in the United States range from EMV chip cards to digital wallets to bitcoin; however, there’s one traditional form of payment that has managed to survive the shift towards digital. The use of paper checks by American business entities and individuals remains uncomfortably high in the 21st century. A 2013 survey by…

Speeding up Chip Card Checkout Times with Visa

Over the last couple of years, more retailers and providers of merchant services in the United States have been settling into the new Europay, MasterCard and Visa (EMV) credit card processing system. As EMV acceptance expands, business owners will start to see more technology upgrades offered by through their merchant services providers. One current quirk…

Oracle MICROS Hackers Also Hacked 5 Other Companies

American companies that use credit card processing and merchant services are on high alert after a Russian hacking group breached the servers of various POS or point of sale systems. The first victim of the breach was tech giant Oracle, which in mid-2016 acquired MICROS Systems, a major provider of POS solutions for the retail…

How MICROS Point of Sale Systems Got Hacked

Software giant Oracle Corporation became the victim of a data breach last week when a Russian organized cybercrime group gained access to hundreds of their systems. According to security experts the group gained access through a customer support portal for companies that use the MICROS point-of-sale software from Oracle. The MICROS software payment system is…