Digital Transactions Authoritative, insightful and timely information for payments professionals
TIO Networks Corp. signaled a new strategy last week when the kiosk network struck a deal with IPP of America Inc. to process bill payments at IPP walk-in locations (Digital Transactions News, Nov. 29). For the first time, TIO will be handling transactions on its network without the need to …
Read More »TJX’s Settlement with Visa Casts Light on Murky World of PCI Penalties
The settlement The TJX Cos. and Visa Inc. announced Friday not only shows the retailer is well on its way to disposing of the myriad problems arising out the intrusion into its computer system that potentially compromised nearly 100 million credit and debit cards, but it also gives a rare …
Read More »Under Its New CEO, IPP Maps Big Plans for Walk-in, Online Bill Pay
A sleepy, middle-tier processor of walk-in bill payments and prepaid card top-ups is embarking on ambitious plans to introduce online bill payment, forge more direct links to billers, and build out its network of retail walk-in locations. Under Ronald W. Averett, its new chief executive, Fairfield, N.J.-based IPP of America …
Read More »18 Months on, Discover Says Its Acquirer Program Is on Target
Nearly a year and a half after first enlisting bank-card merchant acquirers to sign small and mid-size merchants for Discover acceptance, Discover Financial Services LLC says the program is doing just what the company intended. “We’ve seen excellent results,” Matt Johanson, vice president of acquirer relations at Riverwoods, Ill.-based Discover, …
Read More »NACHA Tightens Risk Management, Restricts Payment Aggregation
NACHA, the rules-setting body for the automated clearing house network, this week announced membership approval of a rule amendment that will raise fines for unauthorized transactions and cut off ACH access for companies that enter too many such payments into the network. NACHA has also issued a rules clarification that …
Read More »Cyber Monday Traffic Soars, But Sites Labor Under the Strain
Online shoppers hit virtual stores on Monday in greater numbers than they ever have before on the Monday after Thanksgiving, but a number of leading e-commerce sites struggled to keep up with all the traffic, according to reports released on Tuesday. On so-called Cyber Monday, consumers performed 1.9 million transactions …
Read More »Heartland Sues Micros, Chase Paymentech over Restaurant Transactions
A courtroom food fight of sorts has broken out between big merchant processor Heartland Payment Systems Inc. and a leading hospitality-industry technology provider supported by a network gateway owned by No. 1 merchant acquirer Chase Paymentech Solutions LLC. Princeton, N.J.-based Heartland today said it has filed a federal antitrust lawsuit …
Read More »Profit Squeeze, Interchange, and PCI Top Acquirers’ Gripe List
Results from an Aite Group LLC survey of merchant acquirers and independent sales organizations released on Monday show that processors consider “margin compression,” high interchange, and dealing with the Payment Card Industry data-security standard as the top three challenges facing the acquiring industry. The results, part of a report called …
Read More »An EFT Summit Helps Costco Weigh Options for Web-Based PIN Debit
In a development that could lend considerable momentum to efforts to bring PIN debit to the Internet, Costco Wholesale Corp. is investigating at least three technologies that would allow the retailing giant to accept PIN debit cards for payment on its Web site, according to sources familiar with the matter. …
Read More »Contactless Vending Gains 4,000 More Machines with Latest Pact
USA Technologies Inc., a Malvern, Pa.-based vendor of card-reading devices for vending machines, this week announced another pact with MasterCard Inc. that will put USA Technologies' e-Port G6 magnetic-stripe and contactless payment card readers in 4,000-plus more vending machines. The deal represents the fourth between the two companies in the …
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