Friday , November 8, 2024

Digital Transactions News staff

Common in Acquiring, Sharing of Bad-Merchant Data Comes to the ACH

Taking a cue from bank card merchant acquirers, bank processor Fidelity National Information Services Inc. (FIS) and NACHA on Monday announced the formation of the Terminated Originator Database, a new service to help banks identify businesses that other banks have cut off from originating automated clearing house transactions because of …

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Ingenico To Buy Hypercom Assets, Installs New North American Boss

  Ingenico S.A. will buy part of point-of-sale terminal maker Hypercom Corp.’s U.S. assets as VeriFone Systems Inc. prepares to complete its acquisition of Hypercom under a deal the companies announced Monday. France-based Ingenico also installed the head of its Australian unit, Thierry Denis, as its new North American president. …

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The Fed’s Same-Day ACH Service Gets off to a Slow Start

More than eight months after it introduced same-day settlement for automated clearing house transactions, the Federal Reserve has attracted only a handful of banks for the service. “It’s been a long struggle,” Steven Cordray, retail payments project manager at the Atlanta Fed’s Retail Payments Office tells Digital Transactions News. Speaking …

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Account Takeover Fraud Starts to Plague Businesses, AFP Study Shows

Checks caused most of the losses suffered by businesses victimized by payment fraud in 2010, which is no surprise. Businesses, however, are now falling victim to newer types of fraud, particularly account takeovers, that fraudsters have used against consumers in recent years, according to the Association for Financial Professionals’ latest …

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ViVOtech Reveals It Is Kicking the Tires of Hypercom’s U.S. Assets

ViVOtech Inc., a payment hardware and software provider specializing in near-field communication (NFC) technology, on Thursday said it is interested in buying the U.S. assets of Hypercom Corp., the point-of-sale terminal maker in the process of being acquired by rival VeriFone Systems Inc., San Jose, Calif. Santa Clara, Calif.-based ViVOtech …

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3 Million Transactions And Counting: Starbucks Scores Early Mobile Success

Mobile payments may be a nascent business fraught with uncertainty, but Starbucks Coffee Co. seems to have found a key to success. Last week, the company revealed that more than 3 million transactions have taken place on its smart-phone-based prepaid payments system, which became available in all U.S. company-owned stores …

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Buried by Letters, the Fed Delays Issuing Its Debit Card Rules

Overwhelmed by the volume of comments it received, Federal Reserve Board Chairman Ben S. Bernanke on Tuesday said in letters to Congress the Fed would miss Congress’s April 21 deadline to have issued final debit card interchange and network regulations. Bernanke, however, said the Fed still plans to meet the …

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Consumers Nearly Carefree When It Comes to Smart-Phone Security

With much of the payments industry and Silicon Valley tech press in a speculative frenzy about what Google Inc., Apple Inc., and Facebook Inc. might or might not do regarding mobile payments, a new study has come along indicating that consumers are complacent, arguably extremely complacent, about protecting personal and …

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Relax, Banks. Google Just Wants NFC for Its Advertising Potential, Experts Say

A mobile-payments system from Google Inc. may strengthen the search giant’s hand in marketing but will pose little threat to established payments networks, according to experts contacted by Digital Transactions News. The Google venture, more news of which emerged this week, has surprised some observers because it includes MasterCard Inc. …

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AmEx Serves Up a New Digital Payment System with a Prepaid Card

American Express Co. on Monday launched Serve, a multifaceted online and offline payment system centered on a digital account and reloadable prepaid card that facilitate person-to-person payments as well as physical, online, and mobile purchases. AmEx says a key advantage of the digital account is that it is funding-agnostic, meaning …

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