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VeriFone Holdings Inc. swung to a welcome $3.69 million profit in its fourth fiscal 2009 quarter and sees evidence of recovery in its global markets, but the leading U.S. point-of-sale terminal provider isn't expecting a rebound in its North American business for a while. “It's still kind of a shaky …
Read More »After a Difficult Year, Lawlor Exits As CEO at Online Resources
Matthew P. Lawlor, the co-founder, chairman, and chief executive of Online Resources Corp., is retiring immediately as chief executive, the company announced early Tuesday. Lawlor will remain as chairman until Feb. 15 to assist with the transition, and then scale back to serving on the board of directors of the …
Read More »Same-Day ACH Is ‘On Track,’ Says Fed, But Response Is Mixed
A plan by the Federal Reserve to speed up certain automated clearing house transactions so they will clear on the same day they are initiated is “attracting interest” from financial institutions that use the Fed to handle their ACH traffic, says Richard Oliver, an executive vice president at the Federal …
Read More »Eye on Prepaid: Facebook, Western Union, And Green Dot
Prepaid card processors paired up with partners ranging from Facebook to Western Union to the MoneyPass surcharge-free ATM network in deals this week that expand the processors' distribution channels and transaction sources. In a cutting-edge deal that further opens up an Internet parallel to gift card giving, grocery chain Safeway …
Read More »Upbeat News from First Data on Average Tickets, Same-Store Sales
Christmas cheer for merchants and transaction processors came a little early this week with the news that both transaction volumes and dollar sales from cards for at least one major processor are finally trending up, yielding a scant but welcome uptick in average tickets. Even more encouraging: the increases came …
Read More »As Online Bill Pay Surges, WEB Closes Gap with E-Check Leader ARC
Paper-based bill payments continued their decline in the third quarter while Internet bill payments gained more ground, according to the latest automated clearing house data. The accounts receivable conversion (ARC) code for paper checks sent to billers' lockboxes and then converted into electronic checks had 583.8 million transactions in the …
Read More »VeriFone Brings a Terminal Maker’s Savvy to Mobile Payments
With a number of processors and software houses having introduced applications over the past year to let merchants process cards on smart phones, many observers wondered how long it would be before the established point-of-sale terminal vendors entered this market. On Tuesday morning, the answer came with VeriFone Holdings Inc.'s …
Read More »Early Results Are Inconclusive for NACHA’s New IAT Code
The first statistics about the new automated clearing house code for international transactions are in, though it's too soon to draw conclusions about how popular the so-called IAT code will become. According to NACHA, governing body of the ACH, IAT had 303,802 transactions in September with a total value of …
Read More »C-Stores Prepare New Anti-Interchange Petition Drive
Retailers fighting what they say are high payment-card acceptance costs are not letting the heated debates about health care or President Obama's planned troop surge in Afghanistan push interchange off the political stage. The NACS?The Association for Convenience and Petroleum Retailing, next week will launch what it calls Phase 2 …
Read More »Secure Vault Payments Wins High Adoption at University of Georgia
Secure Vault Payments, an online-payments program that lets consumers pay merchants from their checking accounts via the automated clearing house network, is catching on as a way to pay tuition and other costs at the University of Georgia, which began using the method in July in time for fall-semester tuition …
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