PYMNTS

JANUARY 20, 2021

The ongoing pandemic has pushed more consumers online to carry out their shopping and banking, with fraudsters following suit. Bad actors have moved to take advantage of the rush to digital payments — particularly those made with debit cards — leaving banks and financial institutions (FIs) racing to keep them off their platforms.

Debit Transaction

Cardfellow

FEBRUARY 27, 2025

In fact, there are two areas where it can excel: debit routing and fraud prevention. In this article, well look at the first one – how AI can help save your business money through debit card interchange optimization. Which processors offer AI debit routing optimization?

Debit Transaction

PYMNTS

DECEMBER 31, 2020

Debit card issuers face an ever-growing array of fraud schemes perpetrated against them and their account holders. Effective card offerings require financial institutions (FIs) to quickly and accurately detect myriad forms of fraud, forcing them into a delicate balancing act. Security challenges are mounting, too.

Issuers

PYMNTS

NOVEMBER 12, 2020

The pandemic and economic headwinds have spurred millions of consumers to eye their finances with caution. In an interview with PYMNTS, Steve Sievert , executive vice president of PULSE Network , said debit has clear advantages for users who want to spend what they have on hand — and not expose themselves to more debt.

Debit Card

PYMNTS

APRIL 28, 2020

The coronavirus pandemic has left consumers staying home when possible to stop the virus’s spread. These shifts have made digital banking and debit transactions more important than ever. FIs need to adjust their offerings accordingly to suit consumers’ new needs. Around the Next-Gen Debit World.

Online and Mobile Banking

PYMNTS

FEBRUARY 1, 2021

That gives us a hint as to what might happen with debit spending, in a trend that was well-evidenced through the latest (and ongoing) earnings season. Namely, it will continue to be a favored payment method among consumers. The issuers, too, have seen surges in debit spending. As to where that debit spend is going: J.P.

Issuers

PYMNTS

SEPTEMBER 15, 2020

Consider the fact that in Mexico it can take four to six months to open a business account — and as much as a year to get access to a debit card. As Poovala told Webster: “We had to get a debit card by actually creating our own startup. It’s been 20 months, and we tried to get a debit card from some of the largest banks.

Debit Card

Clearly Payments

AUGUST 14, 2024

for credit cards, the U.S. Additionally, the prevalence of rewards programs, funded by these fees, and the high usage of credit cards—over 60% of U.S. consumers prefer credit cards—further drive costs. for credit cards and 0.2% Debit card fees tend to be lower, but they still average around 1.5%

Process

Fintech Finance

DECEMBER 13, 2023

for UK-European Economic Area (EEA) consumer debit transactions and 0.3% for consumer credit transactions (where the transactions are made online[1] at UK businesses) A lasting cap on these interchange fees in the future, once further analysis has been carried out to establish an appropriate level.

Cross-Border

PYMNTS

JANUARY 30, 2020

Widely publicized data breaches and hacks have made today’s consumers especially concerned about fraud. Cautious shoppers may find comfort in debit, with fraud losses associated with the payment method declining over the past several years. A Big-Picture Approach To Thwarting Debit Fraud. Get the full scoop in the Tracker.

Debit Card

Stax

MARCH 14, 2024

The EMV standard has now become a global standard for cards equipped with computer chips and the technology used to authenticate chip-card transactions. You will still be subject to the costs of debit vs. credit payments, etc. During the EMV chip card rollout, consumers reported frustration with slower transaction times.

Chip Cards

Fintech News

SEPTEMBER 17, 2024

It also explores the increasing adoption of real-time payments, which many countries are embracing as a more efficient and cost-effective alternative to traditional card payments. It notes that rising card fees costs in the region have significantly impacted merchants’ acceptance costs, prompting regulatory action in various markets.

APACS

Clearly Payments

JANUARY 16, 2024

Card Type: Interchange fees vary based on the type of credit card used in a transaction. The three main categories are debit cards, credit cards, and premium credit cards. Premium cards, often associated with rewards programs, tend to have higher interchange fees.

PCI DSS

PYMNTS

JANUARY 19, 2021

A new year has begun, but the pandemic continues to throw financial and operational curveballs at banks, businesses and their consumers regarding how they conduct daily tasks or routine payments. This includes shifts in which consumers are shopping and paying, and in the payment tools or methods they are using to finalize their transactions.

Debit Card

PYMNTS

APRIL 1, 2020

billion non-prepaid debit card transactions in 2018, solidifying debit as a staple payment type. Consumers only see a small part of what is involved in using this method, however. Debit cards secured with PINs came into wide use in the 1990s, and regional card networks often processed such payments at the time.

Debit Card

PYMNTS

JANUARY 21, 2021

Recent studies have found that debit issuers lost approximately $1 billion to fraudsters targeting transactions at the physical POS or ATMs in 2019 — and this was before the ongoing pandemic expanded fraudsters’ opportunities to launch their schemes. Debit And The Fraud Catch .

Debit Card

PYMNTS

MARCH 19, 2019

In addition, the number of people making mobile payments in stores is on the move in Vietnam and more than four in 10 credit and debit transactions were processed through contactless technology in the United Kingdom last year. As it stands, consumers in the U.K. As it stands, consumers in the U.K. In addition, almost 7.4

Mobile Payments

PYMNTS

SEPTEMBER 14, 2020

Debt markets contract during economic downturns — a point the pandemic is proving beyond the shadow of a doubt as debit usage causes a near-total eclipse of credit in Q2 and after. Safety and convenience are twice as valuable when it’s your money (debit), and not the bank’s (credit). Broader Applications To Come.

Debit Transaction

PYMNTS

SEPTEMBER 9, 2020

Consumers who previously paid for purchases by swiping or inserting their cards at in-store point-of-sale (POS) terminals are now turning to contactless cards and online shopping to safely and easily obtain needed goods. These two forces appear to be driving an increase in consumers’ use of touch-free debit payment options.

Debit Card

The Fintech Times

SEPTEMBER 27, 2024

“Merchants and banks pass along those costs to consumers, either by raising prices or reducing quality or service. The complaint Filed in the US District Court for the Southern District of New York, the complaint explains that more than 60 per cent of debit transactions in the United States run on Visa’s debit network.

Debit Network

Payments Source

MAY 4, 2018

There are lot of PINless debit transactions available to capture, and First Data's migration to dual messaging on Star supports any method a consumer may choose at the point of sale.

Debit Transaction

PYMNTS

FEBRUARY 19, 2020

He added that other variables must come into play when examining risk, focused on a consumer’s history: where, when and how they shop and transact. Using A Debit Card At Walmart. That is the level of service that consumers want today.”.

ATM

PYMNTS

APRIL 30, 2020

But business was substantially disrupted, he said, as the pandemic hit, and consumers pulled back on discretionary spending. As had been seen with payments networking peer Mastercard, Visa said that its latest quarter showed greater traction in debit transactions than in credit. Total debit cards were up 5 percent to 2.3

Transactions

PYMNTS

DECEMBER 30, 2020

Debit has become exceedingly popular over the past year as social distancing and stay-at-home orders reduce consumers’ cash reliance and the ongoing economic decline and rising unemployment rates make them wary of taking out loans or leveraging credit. Debit Fraud Threats In The Time Of eCommerce.

Fraud Prevention

Tearsheet

MAY 9, 2024

‘Tis the season – of card launches. The news: Klarna is the latest player in the US market to introduce a new card offering and open its waitlist to American consumers. While certain aspects of the Klarna card issued by WebBank may resemble those of typical credit cards, there are distinctive nuances to consider.

Debit Card

PYMNTS

NOVEMBER 21, 2016

And though the bulk of that took place though direct deposit activity (think payroll) and B2B transactions, P2P and consumer bill pay saw tens of thousands of payments. This sets the stage for increased adoption of same-day payments across consumers and the merchants who serve them. percent on each transaction.

ACH

PYMNTS

DECEMBER 4, 2018

Visa and Mastercard are offering to cut fees that are paid by merchants on tourists’ card payments made in the European Union — an effort that would help end an antitrust investigation in the region. The merchant passes that cost along to the end consumer in the form of higher prices. percent and for credit cards that tally would be 1.5

Visa

PYMNTS

MARCH 14, 2017

Whether it’s checking a bank account balance or placing an order online, consumers expect fast, convenient and immediate results. DE: The idea of fast funds continues to consume an outsized proportion of the industry’s headspace. DE: Payment card networks already have the rails in place to offer instant payments.

Consumer

PYMNTS

SEPTEMBER 26, 2019

Consumers, businesses and governments are seeing faster payments as a path to greater convenience and financial security, and this growing demand is spurring payments services providers (PSPs) to meet this need in a swift, secure manner. Common forms of pull payments include debit cards and paper checks.

Payer

Finovate

SEPTEMBER 20, 2024

For instance, when a customer of one bank opens an account with another institution, the new bank gains visibility into the customer’s transaction history and account balances from their original bank, while the new bank is also able to initiate fund transfers or debit transactions from the customer’s account at the original institution.

Innovation

PYMNTS

AUGUST 3, 2018

Coverage includes a 41-month prison sentence for a bitcoin trader, Starbucks mulling a bitcoin project, Barclays investing in an alternative lender, Discover naming a new chief executive and proposed legislation to ban overdraft fees on ATM and debit transactions. Starbucks May Help Consumers Pay With Bitcoin. District Judge G.

Bitcoin

Stax

JULY 9, 2024

More and more, cash-only businesses are falling by the wayside, unable to keep up with consumer demand for convenient electronic payments. EFT payments are a cost-effective solution for both businesses and consumers. In contrast, EFT payments significantly reduce these expenses as transactions are processed electronically.

Electronic Fund Transfer Act (EFTA)

PYMNTS

MAY 5, 2017

When it comes to accessing their money, today’s consumer wants it now, with the push of a button. As they grow bolder with this demand, consumer requirements for speed, simplicity and choice in how they get paid could soon make push payments technology a corporate standard. New Tools on the Block . Time to Write Off the Paper Check?

Checks

PYMNTS

MARCH 12, 2020

The conversation took place against a backdrop where, as reported in the Next-Gen Debit Tracker , non-cash payments have been rising 6 percent a year, and where payroll cards and debit transactions are gaining ground.

Payroll

PYMNTS

NOVEMBER 12, 2019

FICO said the platform detects potential fraud while remaining invisible to the consumer during legitimate transactions. In terms of mechanics, the new case management functionality helps issuers reduce costs by assisting them in accurately managing groups of compromised cards. billion transactions. percent in 2017 to 6.7

Fraud Detection

Neopay

DECEMBER 18, 2023

for UK-European Economic Area (EEA) consumer debit transactions and 0.3% for consumer credit transactions (where the transactions are made online [1] at UK businesses) A lasting cap on these interchange fees in the future, once further analysis has been carried out to establish an appropriate level.

Cross-Border

PYMNTS

APRIL 12, 2018

Tomorrow, April 13, signing a receipt at the end of a Mastercard credit or debit transaction at the physical POS will become a relic of payments history. It’s a change that’s long overdue for many consumers. Consumers like Karen Webster, who – in a conversation with Mastercard U.S. transaction … and had to sign.

EMV