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Electronic bill payment is a key function Visa USA is expecting holders of the new Wal-Mart MoneyCard prepaid plastic will use the product for. According to Visa, nearly 20% of purchase transactions on its existing reloadable prepaid products are bill payments. The MoneyCard, which is issued by GE Money Bank …
Read More »Litigation, Divergent Europe Among Risks Visa IPO Faces
Like MasterCard Inc. last year and Discover Financial Services LLC later this week, Visa Inc. is preparing to become the third standalone, publicly traded payment network. But a registration statement Visa filed Friday raises plenty of questions about the risks the world's largest card network faces in a litigious and …
Read More »Another Rival for NACHA?with an International Flair
Internet payments company Saf-T-Pay Corp. is about to roll out a system that taps consumers' demand-deposit accounts and bears similarities to those being promoted by NACHA?The Electronic Payments Association and tech company MODASolutions Inc. But Miami Beach, Fla.-based Saf-T-Pay says it has an easy-to-use solution that already is gaining credibility …
Read More »How TransFirst’s New Boss Sizes up the Processor’s Opportunities
Former First Data Corp. executive John Shlonsky, who took over this week as president and chief executive of TransFirst LLC, says he plans to lead the Dallas-based transaction processor into a wide array of new markets with backing from the company's new owner, private-equity firm Welsh, Carson, Anderson & Stowe. …
Read More »Verizon Deal Lends Impetus to Obopay’s M-Commerce Drive
Obopay Inc. on Thursday announced four new businesses for its mobile-commerce application, bringing to six the number of companies using the Redwood City, Calif.-based processor's service to enable payments via handsets. The news follows Verizon Communications Inc.'s decision to adopt Obopay's application for mobile payments on its wireless network, which …
Read More »Seeking More Revenue, Big Banks Get Set to Roll out 11th-Hour Bill Pay
Financial institutions seem likely to give expedited bill payments a big boost in the coming two years, according to survey results released today by Boston-based Aite Group LLC. In a March survey of 22 of the nation's top 100 banks, credit unions, and thrifts ranked by number of checking accounts, …
Read More »Prepaid Eyes the Potential in Consumer Rebates And Incentives
In a move that could give the market for network-branded prepaid cards a big boost, Parago Inc. has launched a campaign to move its clients from checks to one-time-use cards for rebates and cash incentives. The Dallas-based company, which manages consumer rebate and rewards programs for corporations, hopes to have …
Read More »ISO Ties Helped Seal CyberSource’s Bid for Authorize.Net
CyberSource Corp., which on Monday announced it is buying rival online gateway provider Authorize.Net Holdings Inc. for $565 million in stock and cash, plans to leverage Authorize.Net's relationships with independent sales organizations and other third-party resellers to reach small e-commerce merchants. The transaction, expected to close this fall, “dramatically accelerates …
Read More »PropertyBridge Brings PIN-less Debit to Residential Rent
PropertyBridge Inc., which handles electronic rent payments on behalf of property managers, plans to launch next month a recurring PIN-less debit option. It is processing some PIN-less transactions now in a test, or so-called “beta,” mode, for an unnamed property-management firm, says Jason Gardner, president of the Oakland, Calif.-based company, …
Read More »Google Checkout Scrubs Its Boston Party After Talks with eBay
The party's off. Google Inc., which had planned to sell its Google Checkout online payment system Thursday night at a party in Boston during a convention of eBay Inc. buyers and sellers (Digital Transactions News, June 12), has abruptly canceled the event after talks with eBay. Mountain View, Calif.-based Google …
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