TomDailey

About Tom Dailey

Tom E. Dailey provides independent expert strategic and practical advice to merchants, payment processors, investors, law firms and other organizations. He is a recognized, trusted expert in the card and payments space. As a senior executive at Discover, he managed the multi-billion dollar merchant business unit, including a team over 2,000 across 28 facilities. More recently as CEO at international ecommerce payments processor 2Checkout, Dailey led more than $70 million in funding rounds and a quadrupling of the company’s market valuation. In addition to consulting, Tom serves in expert witness and litigation support roles for payments-related matters, including expert reports, depositions, court testimony, document reviews and forensic analysis.

Mastercard loses UK interchange challenge, must pay over £90 million

In a landmark ruling, the UK Competition Appeal Tribunal determined that Mastercard did not follow regulations in setting interchange rates and must pay £68.5 million in damages to supermarket chain J Sainsbury.  Mastercard issued a statement indicating it expects to take a total charge of £90-100 million after interest and other costs related to the dispute are [...]

By |2017-11-18T15:32:38-05:00July 15th, 2016|interchange, litigation, MasterCard|Comments Off on Mastercard loses UK interchange challenge, must pay over £90 million

MasterCard (now Mastercard, or just mastercard) updating its brand identity

Mastercard is updating its brand identity with an updated logo and a change in the way the corporate name is represented:  the capital "C" is gone and in some cases, so is the capital "M".  (It will be interesting to see how long it will take for all of the spell/grammar check programs to catch [...]

By |2017-11-18T15:32:38-05:00July 14th, 2016|MasterCard|Comments Off on MasterCard (now Mastercard, or just mastercard) updating its brand identity

EU plans increased regulation of digital currencies and prepaid accounts

In what is being billed as a counter-terrorism move, the EU is proposing stricter rules on digital currencies and prepaid accounts.  The EU signaled such a move last November, after French authorities determined that prepaid accounts were used by terrorists in the Paris attacks.  The rules are also designed to create greater transparency and curb [...]

By |2017-11-18T15:32:38-05:00July 13th, 2016|Bitcoin|Comments Off on EU plans increased regulation of digital currencies and prepaid accounts

Reports: Counterfeit card fraud down as card-not-present and identify fraud spike

It is a long-established fact that fraudsters follow the path of least resistance.  Recent statistics back this up. CardNotPresent points out that according to the Card Fraud Control Benchmark Study from Auriemma Consulting Group, counterfeit card fraud dropped by 18% in the first quarter, largely due to the continuing rollout of EMV which requires multifactor authentication.  The [...]

By |2017-11-18T15:32:38-05:00July 13th, 2016|authentication, data security, ecommerce, EMV, identify theft|Comments Off on Reports: Counterfeit card fraud down as card-not-present and identify fraud spike

Resold/Repurposed computers and hard drives can be a rich source of confidential data for fraudsters

Data security firm Blancco Technology Group recently conducted an experiment whereby they purchased 200 used data drives, then conducted a forensic analysis to determine whether they contained confidential/personally identifiable information. The result?  67% contained personal information and 11% contained sensitive business data including emails, spreadsheets, social security numbers, strategic and planning information, and inventories.  36% showed [...]

By |2017-11-18T15:32:39-05:00June 29th, 2016|data breach, data security|Comments Off on Resold/Repurposed computers and hard drives can be a rich source of confidential data for fraudsters

Kroger is the latest merchant to sue over EMV signature authentication, joining Wal-Mart and Home Depot

In May, I published an article "Are Americans too dumb for Credit Card PINs?" pointing out the absurdity of U.S. card network rules requiring a merchant to accept a cardholder signature as authentication on an EMV-chip enabled card transaction, rather than requiring the customer to enter a PIN like 80+ other countries. By forcing merchants to [...]

By |2017-11-18T15:32:39-05:00June 28th, 2016|authentication, EMV, Home Depot, MasterCard, Visa, Walmart|Comments Off on Kroger is the latest merchant to sue over EMV signature authentication, joining Wal-Mart and Home Depot

MasterCard accelerating investment in India payments market

MasterCard will invest up to $800 million in the India payments market by 2020, on top of $400 already invested since 2014. The opportunity is massive:  less than 5% of payments in India are digital. Investments will include improved MasterCard acceptance by smaller, independent businesses which make up 45% of India's GDP; and mobile technology, [...]

By |2017-11-18T15:32:39-05:00June 28th, 2016|India, MasterCard|Comments Off on MasterCard accelerating investment in India payments market

Apple Pay expanding into web-based ecommerce payments

In a move that could pose serious competitive challenges to PayPal and other ecommerce payment  players, Apple is expanding Apple Pay to support web-based ecommerce payments starting this fall.  The product will initially work only through Apple's Safari browser. 21 major retailers including Office Depot, Target, Home Shopping Network and Overstock.com have already indicated they [...]

By |2017-11-18T15:32:39-05:00June 22nd, 2016|Apple, ecommerce, PayPal, Uncategorized|Comments Off on Apple Pay expanding into web-based ecommerce payments

Microsoft launches Wallet 2.0. (Yawn.)

Microsoft's launch of its Wallet 2.0 is a bit like someone who shows up at the party after midnight.   Apple Pay has been around since 2014 and Android Pay is nearly a year old. Microsoft is touting the fact that the new version supports NFC "tap to pay" (as if that is a major [...]

By |2017-11-18T15:32:39-05:00June 22nd, 2016|Apple, digital wallets, Microsoft|Comments Off on Microsoft launches Wallet 2.0. (Yawn.)

Visa predicts 35% increase in international travel by 2025

Visa published a report predicting robust growth in international travel and associated spend over the next decade. Highlights: 282 million households will plan at least one international trip per year by 2025, up 35% from current levels. Average spend will exceed $5,000 per trip Largest growth will come from markets with an expanding "traveling class"  such as [...]

By |2017-11-18T15:32:39-05:00June 10th, 2016|Visa|Comments Off on Visa predicts 35% increase in international travel by 2025
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