Digital Transactions Authoritative, insightful and timely information for payments professionals
Seven months after VeriFone Systems Inc. launched Sail, its mobile-payments platform for micro-merchants, the San Jose-based point-of-sale terminal maker and payments software provider is stepping back from its role as an acquirer for Sail merchants and will instead revert to its traditional role of solutions provider. The announcement from chief …
Read More »Appeals Court Tells Settlement Challengers To Wait Until Agreement Gets Final Approval
A federal appellate court has turned down a retailer appeal to review part of the controversial settlement in a massive credit card interchange case, clearing the way for the trial court to move toward final approval. Meanwhile, the Herculean task of notifying millions of merchants about the settlement is getting …
Read More »By Launching a Branded Cash-Funding Product, PayPal Turns up Heat on Banks
PayPal Inc. on Thursday took a step closer to providing bank-like account access with its introduction of a branded prepaid card that can be used to fund PayPal accounts. The PayPal My Cash Card, which is the first PayPal-branded prepaid card in the 14-year-old company’s history, allows consumers who lack …
Read More »Online Volume Grows 13% As Mobile Traffic and Bill Me Later Surge
Retail purchases online will reach $318 billion this year, up a healthy 13% from 2011, with mobile transactions accounting for more than 6% of that volume, according to a new report from Javelin Strategy & Research. This year marks the first time mobile-originated transactions have accounted for a meaningful share …
Read More »NYCE Hopes To Drive New ATM Traffic with a Limited-Surcharge Program
For ATM owners struggling to attract consumer traffic, half a loaf of surcharge revenue may be better than none at all. A new program called Dollar$top from processor Fidelity National Information Services Inc.’s (FIS’s) NYCE electronic funds transfer network will put the concept of a limited fee to the test …
Read More »Square Steps in to a Small But Thriving Digital Gift Card Niche
Square Inc.’s announcement over the weekend that it is making digital gift cards available for its base of mostly small merchants heralded the San Francisco startup’s entry into what is turning into a hot market, particularly with the onset of the holiday-shopping season. Square, which in recent months revamped its …
Read More »Isis Uses ISOs, Subsidized Terminals To Build Merchant Base for Its NFC Wallet
As it rolls out its service in Austin, Texas, and Salt Lake City, the Isis mobile-payments venture is teaming up with independent sales organizations and merchant processors to sign up merchants to accept its mobile wallet. One of those ISOs, Phoenix-based MobiSquad, currently has about 350 merchants in the launch …
Read More »An Expansion-Minded EVO Buys PowerPay And Looks to Europe With its Deutsche Bank Deal
It’s been a tad busy at EVO Payments International over the past week. On Thursday, the big independent sales organization disclosed it had bought another ISO, Portland, Maine-based PowerPay. On Nov. 29, EVO announced a deal with Deutsche Bank AG, Germany’s biggest bank by assets, under which it will buy …
Read More »By Taking a Pass on NFC, Apple Punches a Hole in a Key NFC Forecast
When Apple Inc. this fall launched its latest smart phone, the iPhone 5, without a near-field communication (NFC) chipset, the move was widely seen as a blow to the prospects for NFC as a technology for mobile payments. Now comes a report estimating just how damaging that blow could be. …
Read More »Mitek Lands U.S. Bank As a Client for Its New Mobile-Imaging Bill-Pay Technology
Mitek Systems Inc., the leading developer of software for mobile remote deposit capture, announced on Wednesday that U.S. Bank will offer its new Mobile Photo Bill Pay product to its customers in 2013. The news is a breakthrough for Mitek in taking its key mobile-imaging technology beyond its original deposit …
Read More »