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December 5, 2019
On the wires
PCI Security Standards Council Publishes New Standard for Contactless Payments
“Today the PCI Security Standards Council (PCI SSC) published a new data security standard for solutions that enable merchants to accept contactless payments using a commercial off-the-shelf (COTS) mobile device (e.g., smartphone or tablet) with near-field communication (NFC). Using the PCI Contactless Payments on COTS (CPoC™) Standard and supporting validation program, vendors can provide merchants with contactless acceptance solutions that have been developed and lab-tested to protect payment data.”
August 9, 2019
On the web
Uber Says It’s Having Some Success in Reducing Payment Card Costs
Digital Transactions
“Uber didn’t disclose card-acceptance costs in its latest financial report, but Digital Transactions News estimates the bills total at least $1 billion a year. That estimate is based on figures from the registration statement Uber filed ahead of its May initial public offering of stock. The document said Uber paid $749 million in credit card processing fees in 2017, up 62% from $461 million in 2016. While the filing didn’t give 2018 acceptance figures, it did say 87% of Uber’s gross bookings last year were on credit or debit cards.”
April 4, 2019
Top Post
C-Stores Saw Card-Acceptance Costs Rise Faster Than Sales in 2018
Digital Transactions
“Payment card costs are c-store operators’ second-largest expense after labor, according to the spokesperson. Wages increased 4.4% last year, with $10.74 per hour the average wage for a store associate. The industry posted pre-tax profits of $11 billion last year, up 5.8% from $10.4 billion in 2017.”
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