Digital Transactions Authoritative, insightful and timely information for payments professionals
While Visa Inc. and MasterCard Inc. are shelling out big bucks for the loyalties of card issuers and merchants (Digital Transactions News, April 29), they’re also adding technological muscle to attract more transaction volume to their networks. In the latest example, MasterCard on Monday announced a host of upgrades to …
Read More »Both Credit & Debit Rise for Visa, Along with Acquirer Fees
Visa Inc.'s U.S. debit card purchase volumes again put on a strong performance in the quarter ending March 31 and the battered credit card sector continued a revival first seen in late 2009. Merchant acquirers, however, are paying more to process Visa transactions, and they can expect another price increase …
Read More »As Its PayPal Program Unfolds, Star Zeroes in on Online PIN Debit
Six months after announcing it will process online PIN-debit transactions through PayPal Inc., the Star electronic funds transfer network has signed a number of member banks for the new service, with “implementations in progress,” says Julie Saville, vice president for product management at Star. Despite the tie-up with PayPal, however, …
Read More »Congress Breaks Its Silence on Interchange with a New Hearing
After months of inactivity on interchange regulation, the U.S. House of Representatives judiciary committee on Wednesday held a hearing on one bill advocated by national merchant groups. And while the committee took no action, one merchant group views the hearing as a hopeful sign that legislation will be passed. The …
Read More »NACHA Taps The Clearing House to Help Commercialize EBIDS
Capping a process that began last fall, NACHA announced a partner on Monday to help commercialize a system it has been piloting that lets consumers receive and pay bills electronically through the automated clearing house network. The Clearing House Payments Co. LLC, a New York City-based company whose Electronic Payments …
Read More »Square Founders Get Rock Star Welcome But Give Few Details
The founders of the much-hyped Square Inc. payments system may have wowed a full-house crowd of bankers on Monday, but they added little to public understanding of how their product will actually work and how it will stack up competitively with similar offerings for mobile merchants. While polite and talkative …
Read More »Ebay Chief Touts PayPal Innovation As Processor Logs Strong Results
Online auctioneer eBay Inc. on Wednesday said its PayPal Inc. unit has generated more than $30 million in payments so far on the open platform it introduced in November. Thousands of developers have now written applications using application programming interfaces PayPal has introduced for the platform, eBay officials said, allowing …
Read More »Mobile Capture’s Profile Rises As Smart Phone Adoption Climbs
Remote deposit capture by means of smart phones, a technology that seemed futuristic only a year ago, is rapidly taking root, but questions remain about smart-phone adoption, security, and the type of financial institution for which it makes sense. Two recent studies, one of which was released this week, document …
Read More »Apriva Challenges USA Technologies in Cashless-Vending Market
The cashless vending machine payment market is about to get more competitive. Apriva Inc., a specialist in wireless payment technology, this week introduced its Apriva Vend system. With it, Scottsdale, Ariz.-based Apriva is throwing its hat into a ring dominated by USA Technologies Inc., which says it welcomes the new …
Read More »Just Days After Its Debut, Square Changes Its Processing Fees
Square Inc., the new payment system from Twitter co-founder Jack Dorsey, has adjusted its merchant pricing less than three weeks after its debut. Merchants will pay more on card-present transactions under $100 and less on bigger sales compared with the original plan. Card-not-present transactions, however, will cost more until a …
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