Digital Transactions Authoritative, insightful and timely information for payments professionals
Continuing its slow march toward comprehensive security requirements for mobile payments, the PCI Security Standards Council on Thursday released a set of best practices for developers of software for mobile devices. The guidelines follow by four months the guidance about mobile payments that the Council released for small merchants. The …
Read More »Lack of Mobile Optimization Could Cost Small Online Merchants
With smart-phone usage on the rise, small online merchants are at risk of losing market share because most of them haven’t created e-commerce sites that work smoothly on mobile devices. At the same time, independent sales organizations could lose business if they don’t find ways to help small clients deal …
Read More »The NRF Bares Its Sword Against the Credit Card Interchange Settlement
The National Retail Federation announced on Tuesday that it is ready go to court to challenge the controversial proposed settlement to a massive group of merchant lawsuits against the bank card networks and some leading banks over card interchange. The NRF’s entry into the fray is the latest indication of …
Read More »Fiserv Makes a Push for Real-Time Transactions with Its SpotPay Mobile Service
The electronic-payments industry’s zig-zag movement toward faster transaction times may have received a jolt of new life on Monday with Fiserv Inc.’s announcement of its SpotPay mobile-acceptance service. The service, which at first glance appears to be the latest in a long line of products that let small businesses run …
Read More »Once in the NFC Vanguard, a Struggling ViVOtech Heads for Liquidation
Financially struggling contactless card technology provider ViVOtech Inc. insisted just over a month ago when it sold its hardware business that it was staying in operation and focusing on software. But now the company appears to be headed toward liquidation. A document sent to creditors and others with a financial …
Read More »ACH Bill-Pay Council Floats Plan To Bring QR Codes to Bills
A group that promotes electronic bill payment through the automated clearing house network is proposing guidelines for use of Quick Response (QR) bar codes on bills that backers hope will encourage more consumers to pay bills online. The Council for Electronic Billing and Payment is taking comments on its proposal …
Read More »Durbin Effects Manageable So Far for Small Banks—But Worse Is Expected
Now that the Durbin Amendment’s debit card interchange caps have been in effect for nearly a year, enough time has passed for community banks and credit unions to start to determine the impact, if any, the price ceilings have had on their income. Based on conversations Digital Transactions News has …
Read More »How Visa’s New Network Fee Can Bring New Credit Risk for Acquirers
Visa Inc.’s complicated new Fixed Acquirer Network Fee, or FANF, has caused considerable head scratching if not outright consternation for merchant acquirers, independent sales organizations, and merchants since it took effect in April. But, in addition to figuring out FANF’s mysteries, the acquiring industry needs to account for a new …
Read More »Acculynk Enters Acquiring Market, Gains Small-Merchant Footprint with PayLeap Deal
Online PIN debit provider Acculynk Inc. on Wednesday entered the acquiring business with its acquisition of PayLeap, a 4-year-old gateway provider and processor based in Warsaw, Ind. Terms of the deal, which has already closed, were not released. Up to now, Acculynk has worked chiefly with big acquirers to sign …
Read More »‘Disinformation,’ Fire, Losing Bidders, and Other Woes Plague VeriFone’s Summer
The financials looked good, but the Fates seemed to be spinning some entangling threads for VeriFone Systems Inc. during the leading point-of-sale terminal maker’s third fiscal quarter ended July 31. There was the challenge to VeriFone’s big win in Washington, D.C., where the company’s taxicab payment and media systems are …
Read More »