Thursday , November 28, 2024

Digital Transactions News staff

An Online Payments Product Soon? Amazon Refuses to Comment

Responding to a report that surfaced on Wednesday, online retailing giant Amazon.com Inc. refuses to comment on whether it is planning to introduce soon an e-commerce payment service that will compete with other alternatives to credit and debit cards. “We do not comment on rumors or speculation,” an Amazon spokesperson …

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Visa Reports Progress on PCI Among Large and Small Merchants

Signaling further progress among merchants toward compliance with a key data-protection mandate, Visa USA announced this week that 40% of the largest merchants accepting its cards now comply with the Payment Card Industry data-security standard (PCI). Further, some 96% of these merchants have certified they are not storing account data, …

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As Shareholders Okay KKR Deal, FDC Insists Buyout Is on Track

Amid reports about tightening credit, First Data Corp. shareholders today approved the $29 billion sale of their company to private-equity firm Kohlberg Kravis Roberts & Co. According to a First Data release, more than 98% of the shares cast voted in favor of the buyout. Shareholders will get $34.00 in …

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A Startup Prepares a Dual POS/Online Contactless Card

Spotting an opportunity in combining online authentication with contactless technology, a 6-month-old Knoxville, Tenn.-based company plans to have a product on the market by early next year that consumers could use to make payments both on e-commerce sites and at the point of sale. Elemental Knowledge LLC is starting with …

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How Vending Payments Could Benefit from the Change in Reg E

The nascent market for electronic transactions in self-service machines should get a sizable boost from a Federal Reserve rule change set to go into effect Aug. 6, an industry observer notes. The rule change could also foster the development of contactless transactions at these machines, laying the groundwork for payments …

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Online Resources’ $45 Million ITS Deal Beefs up Its Biller Business

In a deal that will expand its client base of billers by 50%, Online Resources Corp. on Thursday announced it is buying Internet Transaction Solutions Inc. for $45 million in cash and stock. The Chantilly, Va.-based bill-payment processor says ITS, which processes payments for some of the country's largest collections …

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Early Signs Are Positive for Amtrak’s Wireless POS Devices

Wireless card-payment devices deployed systemwide this spring by Amtrak to sell food and beverage items are making a favorable impression on passengers and boosting sales while cutting chargebacks, an executive with the national railroad says. Amtrak is now planning to start using wireless terminals to sell tickets on trains, adds …

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BofA’s Envelope-less ATMs Show Imaging Is Catching on with Users

Bank of America Corp.'s announcement this week that more than one-fifth of its deposit-taking ATMs now image checks?and thus don't require deposit envelopes?shows that so-called envelope-less ATMs are starting to catch on with consumers, says an expert observer. “The announcement is significant if only as a sort of marker showing …

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If It Happens, a TSYS Spin-off Will Add to Industry Overhaul

Confirming long-standing industry speculation, Columbus, Ga.-based bank-holding company Synovus Financial Corp. on Tuesday said it would consider spinning off its processing subsidiary, Total System Services Inc. (TSYS), to Synovus shareholders. Assuming a spin-off eventually happens, TSYS will have played a key role in 2007's major processing-industry restructuring that will take …

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Volume Climbs for PayPal, While Some Sellers Will See Fees Rise

Volume for Internet payment processor PayPal Inc. climbed 21% in the second quarter, to 172.9 million transactions, and the San Jose, Calif.-based company continues to make steady inroads with e-commerce merchants away from eBay Inc.'s online auctions, according to statistics filed last week by eBay, PayPal's parent company. Off-eBay volume …

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