Payments News

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Uber Says It’s Having Some Success in Reducing Payment Card Costs

“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 […]

On The Wires

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Tech

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 […]