Sunday, September 30, 2007
If merchants and the acquirers servicing them are not hearing an ominous tick, tick, tick, maybe they should. As of Sept. 30, 2007, Visa U.S.A. intends to begin fining acquirers $5,000 per month for each of their level 1 and level 2 merchants who have not complied with the Payment Card Industry (PCI) Data Security Standard.
That's not all. Noncompliant merchants may be assessed fines starting at $25,000 per month. And said merchants also face the prospect of being downgraded one level, meaning they will have to pay more for transaction processing.
Thursday, September 20, 2007
The National Association of Payment Professionals seeks nominations for the following board positions: president, vice president, secretary and MLSO director. Nominations will be accepted through Sept. 28, 2007.
The first three positions must be filled by merchant level salespeople (MLSs). All board members must be members of NAOPP.
Tuesday, September 18, 2007
Although using your cell phone to pay for groceries at the local supermarket might still be a few years away, ATM and security system maker Diebold Inc. is positioning itself to lead the way.
Diebold recently divulged that it had been granted five U.S. patents over the last 18 months. These patents range from enabling mobile devices to remotely “order” cash withdrawals from an ATM to substituting a wireless device’s keypad and screen for the keypad and screen of an ATM, thereby making it harder for criminals to snatch your PIN number.
Monday, September 10, 2007
An unfamiliar void dotted the streets of New York City and Philadelphia on Wed., Sept. 5, 2007: the lack of taxis and their sometimes wild and raucous drivers.
Longer lines were reported as riders waited at airports, hotels and shopping districts because many drivers took the day off to vent their frustration over new, in-cab payment requirements.
