Friday , November 8, 2024

Digital Transactions News staff

A NACHA Proposal, out for Comment, Calls for Networkwide Same-Day ACH

  The automated clearing house network took a crucial step toward faster transaction movement last Friday when NACHA, the network’s governing body, distributed a request for comment on a proposal for same-day settlement. NACHA sent the 22-page document, which sets out a proposed system called Expedited Processing and Settlement (EPS), …

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Applying the Durbin Maximum, Visa And MasterCard Could Squash Small Tickets

  It’s back to the future, and in many cases higher merchant-acceptance costs for transactions at or under $15, with the bank card networks’ new debit card interchange schedules that will take effect Saturday. That’s the same date that regulated interchange pricing under the Durbin Amendment to the 2010 Dodd-Frank …

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With Seven Device Makers Now On Board, Isis Readies for Its Dual Pilots in 2012

  n While the development appears to give Isis a leg up on Google Inc., whose NFC initiative has so far been limited to a specific handset model from Samsung, observers point out that the mobile-operator joint venture is lagging behind in other respects. For example, Google recently announced the …

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The Malware Menace Gets More Malicious

n Citing research from three Aite studies as well as interviews with 40 fraud-control vendors, Aite predicts that the amount of malware and losses from it are in for their own boom. Based on data from Panda Security, Aite senior analyst Julie Conroy McNelley estimates that 25 million new, unique …

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Pressing Its Patent, Tiny LML Taps Financial Titans for More Than $40 Million

In the course of a three-year legal war over a patent related to automated clearing house processing, LML Payment Systems Inc. has wrung at least $40.5 million out of some of North America’s biggest financial institutions, including Citigroup Inc., PayPal Inc., and HSBC Holdings PLC, and reinforced its claim on …

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Wobbly Economy Notwithstandng, Discover Posts Strong Results

  Newspapers, television, and the Web are full of bleak assessments about the U.S. economy, but you wouldn’t know that from the latest financial and operating results reported by Discover Financial Services, the credit card issuer and student-loan provider that’s also the fourth-largest general-purpose credit card network. Discover card sales …

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Seeking to Boost Conversions, card.io Pushes Card-Scanning for Smart Phones

  n The San Francisco-based company, which is aiming its product at developers, in June released an iOS version for Apple Inc. devices. It says the software is now active on 80 applications, with another 750 having registered but not yet gone live. “Getting such a wide variety of apps …

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