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Visa Hikes Prepaid Interchange But Chops Some Debit Rates
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Read More »U.S. Treasury Electronic-Benefit Campaign Gears up As Checks Dwindle
Nearly nine months after introducing a rule requiring recipients of Social Security and certain other benefits to switch from checks to electronic deposit, the U.S. Treasury Department says the number of check recipients has dipped below 9 million for the first time in decades. The agency is now in …
Read More »In a Good Omen for Mobile Payments, Location-Based Services Attract Handset Users
n A new report from the Pew Internet & American Life Project, Washington, D.C., has found that about 20% of U.S. adults uses a smart phone to access a location-based service or a so-called geo-social site, or a social network in which the user “checks in” with his or …
Read More »Report Predicts How the U.S. Terminal Base Will Migrate to EMV and Mobile Payments
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Read More »VeriFone Looks to Services And Mobile Payments for Growth
North American sales were flat, but leading U.S. point-of-sale terminal maker VeriFone Systems Inc. still posted a 21% increase in revenues on the strength of its international business in the quarter ended July 31, and profits jumped 42%. Fresh from its August acquisition of long-time rival Hypercom Corp., VeriFone anticipates …
Read More »Consumers May Not See Much Durbin Benefit from Card-Not-Present Merchants
n Some 41% of card-not-present merchants responding to the survey at the Direct Response Forum’s annual conference earlier this month said they do not intend to pass on lower debit card costs to consumers, according to results announced on Thursday by the DRF. Fully 56% said they don’t know …
Read More »U.S. Bank Adds to the Roster of Secure Vault Payments Acceptors
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Read More »Tablet Computers Deliver a Bigger Bang Than Smart Phones for the M-Commerce Buck
As manufacturers scramble to develop tablet computers to challenge Apple Inc.’s dominant iPad, findings from an electronic-commerce services firm suggest payments companies looking for new transaction volume through mobile devices would be smart to do everything they can to encourage consumers to buy things on the iPad and its …
Read More »Merchant Maverick Sees Growth with Star-Rating System for ISOs
The culture of ratings and reviews, so prevalent in the online world these days, has come to the business of merchant acquiring as a slew of sites has emerged to size up processors and independent sales organizations. Merchant Maverick, a 2-year-old site in Orange, Calif., takes the concept a …
Read More »Shazam And Adaptive Payments Unveil PIN-Debit Acceptance on Smart Phones
One week after announcing it is testing dual-message PIN debit, the Shazam debit network said on Tuesday it will introduce later this year a product that will let merchants accept PIN debit transactions on smart phones. The product, developed by Fort Lauderdale, Fla.-based authentication-technology vendor Adaptive Payments, comes as networks …
Read More »Diebold Looks To Take ATM Management to the Cloud
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Read More »With an Added 50 Cents Per Share, ACI Ups the Ante in Its Bid for Control of S1
ACI Worldwide Inc. on Thursday sweetened its offer for rival payments-software vendor S1 Corp. Facing stiff resistance from S1’s management, ACI added 50 cents a share to the cash portion of its bid, increasing it from the $5.70 it first offered July 26 to $6.20. It is also offering about …
Read More »Intuit Makes a Smart-Phone Payments Go of It With Verizon Wireless
It won’t be long until payment card acceptance applications and card readers for smart phones are as easy to get in stores as cornflakes or socks. The latest example: Intuit Inc. and Verizon Wireless on Thursday announced that Intuit’s GoPayment mobile application and reader are now available in Verizon Wireless’s …
Read More »Fifth Third’s Credit/Debit Card: A Response to Customers, But Also Suited to Durbin
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Read More »New Debit Card Usage Fees Raise Questions About Their Stickiness
Banks are likely to continue testing debit card usage fees in the wake of the Federal Reserve’s new price controls on debit interchange, though such fees are generating heated debate about whether they make good business sense. “Disincenting consumers to use debit cards I just think is a terrible strategy …
Read More »Responding to Merchant Demand, Shazam Prepares Dual-Message PIN Debit
n In a related move, Shazam is also testing applications written for both the iPhone and Android mobile operating systems that will let store staffers move away from checkout counters and use mobile devices to complete PIN-debit transactions anywhere on the sales floor. These apps will also become available …
Read More »A Treasury Audit Criticizes the IRS About New Merchant-Reporting Requirements
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Read More »In a Shareholder Letter, S1 Seeks Support for Fundtech Deal And Fires Back at ACI
The heated rivalry between payment-software firms S1 Corp. and ACI Worldwide Inc. for the loyalty of S1’s shareholders took on yet more urgency on Monday as S1 urged owners of its shares to reject an offer from ACI. In a letter to shareholders seeking proxies in support of a proposed …
Read More »With Durbin Forcing New Network Links, a Software Vendor Sees Opportunity
Looking to capitalize on opportunities fostered by recently created debit card regulation, Lexcel Solutions Inc. on Thursday announced an update to its network-testing software that is aimed at streamlining debit card issuers’ selection of new networks as mandated by the Federal Reserve. The Fed’s June 29 final rule implementing …
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