Digital Transactions Authoritative, insightful and timely information for payments professionals
The troubled buyout of Alliance Data Systems Inc. by private-equity firm The Blackstone Group officially died this past weekend, a death that came as no surprise to the payments industry. But still alive is Alliance's effort to sell its merchant-acquiring business built around the former BSI Business Services Inc. front-end …
Read More »PCI Council Will Tighten Data-Security Rules, Details to Come
The Payment Card Industry data-security standard, or PCI, is in line for its second upgrade since the PCI Security Standards Council took over development of the standards for protecting cardholder data from the major card networks in 2006. PCI Council general manager Robert Russo announced the coming upgrade Wednesday at …
Read More »After Two Months, Signs Are Positive for Multi-Account NFC Pilot
While hard data are not yet available, anecdotal evidence indicates consumers are pleased with a mobile-payments pilot in San Francisco using phones equipped with near-field communication (NFC) technology and involving the Bay Area Rapid Transit rail system and Jack in the Box Inc. fast-food restaurants. “We've supported thousands of rides …
Read More »Tax Bill Could Be Greater Threat Than Interchange Proposal for Acquirers
The Credit Card Fair Fee Act of 2008 has gotten lots of press for its plan to regulate interchange, but merchant-acquiring industry lawyers say that bill has little chance of passage. The far greater threat is a tax proposal for finding merchants' supposedly underreported cash receipts?a proposal that could forcibly …
Read More »Authorize.Net Rolls out Simple Checkout for Small Online Sellers
In an effort to reach very small online merchants seeking a streamlined way to process payments, Authorize.Net on Tuesday unveiled a service it calls Simple Checkout. The new service allows the merchant to use a Web interface to automatically create the code necessary to place a “Buy Now” button on …
Read More »Shell Lowers MasterCard, AmEx Pricing for Its Jobbers And Retailers
While big oil companies at times have temporarily lowered card-acceptance costs in recent years to help gas stations cope with spikes in the price of oil, Shell Oil Co. today said it would permanently lower the price of card processing as well as speed up settlement times for its jobbers …
Read More »Bankrupt Frontier Airlines Claims First Data Tried To Clip Its Wings
Leading card processor First Data Corp. on Friday found itself cast as the villain in the bankruptcy of Denver-based Frontier Airlines Holdings Inc., which claimed it sought Chapter 11 reorganization in order to prevent its card processor, First Data Corp., from increasing the so-called “holdback” on card charges and thereby …
Read More »How Mobile Candy Dish Combines Handset-Based P-to-P with NFC
A 3-year-old startup in Alameda, Calif., is introducing a mobile wallet that combines contactless payments based on near-field communication (NFC) technology with person-to-person payments and mobile banking. Mobile Candy Dish Inc. last week rolled out its Blaze Mobile Wallet, which works on the AT&T Mobility and Sprint Nextel wireless networks …
Read More »Bigger Volume Jumps Are in Store for BOC E-Checks, NACHA Says
It grew 267% in just one quarter, yet the new back-office conversion (BOC) electronic-check code still isn't getting any respect. But it will, according to officials at NACHA, governing body of the automated clearing house network. NACHA reports that the ACH handled 3.08 million BOC transactions in 2007's fourth quarter …
Read More »Terminal Maker VeriFone Steps into the Busy Data-Security Arena
VeriFone Holdings Inc., a major terminal manufacturer, is entering the burgeoning business of card-data security with a product it says will secure cardholder information from the instant the card is swiped. The product, VeriShield Protect, was announced on Wednesday and encrypts mag-stripe data and the personal account number for the …
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