Sunday , November 24, 2024

Digital Transactions News staff

Observers Express Caution About the Carriers’ New NFC Venture

Forty-eight hours after the announcement by a trio of major wireless carriers that they plan to launch a point-of-sale mobile payments system, reaction from expert observers and others in the industry tends toward caution about the immediate prospects for Isis, the carriers’ joint venture. Isis is expected to launch some …

Read More »

Visa Suggests an Interchange Plan to the Fed; Merchants Blast It

Visa Inc. and a prominent law firm serving financial-industry clients want the Federal Reserve Board to regulate debit card interchange by setting an “average effective interchange rate” and then letting the payment card networks set their own rates as long as the average interchange rate on transactions subject to regulation …

Read More »

Once ‘Bearish,’ a Payments Researcher Smiles on Mobile Payments

The rapid development of mobile payments in the U.S. is starting to make believers out of skeptics. Boston-based Aite Group LLC, a payments consulting and research firm, had been one of those skeptics, but it released a report on Wednesday predicting U.S. mobile payments of all kinds will total $214 …

Read More »

Wireless Carriers Unveil Isis, Their Mobile Payments Joint Venture

In a move the payments industry had expected since early August, the nation’s largest wireless carriers on Tuesday announced they had formed a joint venture to run a point-of-sale mobile-payments network. The new company, known as Isis, will be headed by Michael Abbott, formerly an executive with GE Capital’s proprietary …

Read More »

Mitek Books a Profit As Mobile Demand Perks up

Mobile remote deposit capture software provider Mitek Systems Inc. posted a profitable last quarter of fiscal 2010 as more resellers and financial institutions adopted its products for taking pictures of checks from smart phones. And while San Diego-based Mitek has big expectations for its flagship Mobile Deposit application, the company …

Read More »

NetSpend Vows to Diversify Beyond Troubled MetaBank

With regulatory problems overshadowing its main issuing partner, prepaid card program manager NetSpend Holdings Inc. says it is optimistic that it will be able to form partnerships with other issuing banks. n NetSpend is looking at proposals from a number of regional and national banks to provide sponsorship services, chief …

Read More »

Consumer Groups, Banks Battle to Influence Fed’s Debit Rules

Recent meetings between Federal Reserve staff members, consumer groups, and payments executives show just how divergent the views are as the Fed prepares the first-ever regulations on U.S. payment card interchange. Consumer groups are pushing for “at-par” debit card interchange—essentially, no interchange. A big regional bank, however, said the Fed …

Read More »

Gemalto Combines One-Time Codes, Payments in a Credit Card

Gemalto, a maker of payment cards, said on Wednesday it had developed the first credit card that can generate one-time passwords and also function in point-of-sale devices. The product, which the company calls the Ezio card, is immediately available in commercial quantities in the U.S., though so far no domestic …

Read More »

In the Early Going, P2P Leads Banks’ Mobile-Payment Services

Mobile payment is making headway among the nation’s top 100 financial institutions, according to a new study from First Annapolis Consulting Inc. The mobile offerings today, however, center on person-to-person payments, wire transfers, and remittances rather than the use of mobile devices as payment instruments at the point of sale. …

Read More »

Home Depot Launches a First—Videos for Virtual Gift Cards

A new electronic gift card launched by The Home Depot Inc. that lets customers upload and send video images—apparently the first such card in the market—is performing reasonably well in the early going for the huge home-improvement chain. “It’s a little bit early, but it has met expectations so far,” …

Read More »
Digital Transactions