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A Bellevue, Wash.-based startup plans to have a Web-based payment system in operation some time in 2008 that will look strikingly similar to one that NACHA-The Electronic Payments Association has spent the past several years developing. Metafos Inc., which formed only 18 months ago, is talking to banks and online …
Read More »Targeting eBay Ban, Google Checkout Plans Party to Reach Sellers
Looking to stir up support for its Checkout online payment system among sellers on eBay Inc.'s online marketplace, Google Inc. will throw a party Thursday night in Boston during a three-day convention eBay is hosting for its buyers and sellers. The party, themed “Let Freedom Ring” and to be held …
Read More »TJX Confronts Another Big Bill Linked to Card-Data Breach
The bills from the computer hacking at off-price retailer The TJX Cos. that compromised at least 45.7 million credit and debit cards keep rolling in. The Framingham, Mass.-based operator of the T.J. Maxx, Marshalls, and other chains took a pre-tax charge of $20 million ($12 million after-tax) to cover investigative, …
Read More »Will MasterCard Win, Cap One Card Unleash Debit Brand Switching?
MasterCard Worldwide received a double dose of good debit news last week. First came the news that big credit card issuer Capital One Financial Corp. is rolling out a MasterCard-branded rewards debit card that doesn't require the cardholder to have a deposit relationship with Cap One (Digital Transactions News, June …
Read More »RBS Set to Compete in the U.S. Market with a Payments Gateway
A new transaction gateway backed by one of the largest processors in the world is gearing up to compete for U.S. e-commerce business. The Royal Bank of Scotland Group, which has been handling overseas transactions for U.S.-based online merchants, has unveiled a new service that will compete for transactions generated …
Read More »Already a Rocket, Remote Capture Is Set to Shift to Warp Speed
Remote deposit capture, already a hot product in electronic payments, is poised for explosive growth, according to a report released this week. More than 2,900 U.S. financial institutions had implemented remote capture, or were in the process of doing so, by the end of March, a number that will climb …
Read More »‘Biggest Thing Since PayPal,’ Cap One Card Bids for Debit Share
A new Capital One Financial Corp. MasterCard debit card that Cap One can market nationwide like a credit card has the potential to vault the financial-services company into the top ranks of debit card issuers and help MasterCard Worldwide swipe debit market share from Visa USA, the payments expert who …
Read More »Cardtronics’ Latest ATM Deal Hands 7-Eleven a Hefty Payoff
The agreement by Cardtronics Inc., the nation's largest ATM operator, to buy 7-Eleven Inc.'s entire U.S. fleet of 5,500 ATMs and Vcom multi-function kiosks hands the convenience-store chain a hefty return on its ATM investment while expandng Houston-based Cardtronics' network of machines by about 20%. The approximately $135 million cash …
Read More »PayPal Mobile Services Get Major Boost in Internet Retailing
DVD Empire is among the first of what will apparently be a series of Internet merchants this summer to adopt a new payments service offered by PayPal Mobile. The Warrendale, Pa.-based online seller of DVDs is going live with a Wireless Application Protocol (WAP) site for mobile phones, with payments …
Read More »As Account-Level Processing Takes Shape, Acquirer Impact Unclear
More than three years in the making, so-called account-level processing is moving closer to reality at Visa USA. The new process affecting Visa-branded consumer cards will allow a credit cardholder to keep the same account number even if his issuer upgrades his card. Visa claims ALP will allow smoother transitions …
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