Bill-payment processor Online Resources Corp. on Thursday reported sharply higher third quarter numbers for transactions, clients, and users as the Chantilly, Va.-based company for the first time included results from rival processor Princeton eCom Corp. Online Resources, which acquired Princeton eCom for $180 million this summer, also said its integration …
Read More »Comdata’s New Chief Looks to Acquisitions To Spur Growth
Fresh on the heels of a payment-processing initiative and a new branding campaign, the new chief executive of prepaid and fleet card specialist Comdata Corp.'s parent company told investors on Thursday that Comdata is in the acquisitions market. “The Comdata business is posting strong results driven by a proven, effective …
Read More »August’s Dog Days Brought Some Relief in Phishing Onslaught
August brought some relief in the generally rising onslaught of phishing, with the number of newly detected, unique Web sites hosting attacks dropping dramatically to 10,091 from a record 14,191 in July, according to the latest report from the Anti-Phishing Working Group, which monitors the online fraud. Similarly, the number …
Read More »PayPal’s off-eBay Campaign Begins to Register in Its Numbers
PayPal Inc. 2-year-old campaign to diversify its transaction-processing business beyond the online auction marketplace of its parent, eBay Inc., is starting to show results. Some 37% of the processor's payment volume in the three months ended Sept. 30 came from merchants outside of eBay, up from 32% in the year-earlier …
Read More »FDC Spiffs up Merchant Service, Deploys 11,000 FD-100 Terminals
First Data Corp. chairman and chief executive Henry C. “Ric” Duques on Tuesday painted a rosy picture of the downsized card processor during his first earnings conference call since the recent spin-off of First Data's largest division, remittance kingpin Western Union Co. Greenwood Village, Colo.-based First Data posted net income …
Read More »First Data Hopes New Box Will Help It Plug Into Smaller Merchants
Beyond a recent press release, First Data Corp. hasn't made a huge public splash about its new payment terminal, the FD-100. Yet the terminal is not just a box that processes payment card transactions. It's an element of First Data's multipronged strategy to get more business from small and mid-sized …
Read More »Rewards Account for 44% of Interchange Cost, Report Concludes
The costs of air miles and other perks and rewards account for 44% of bank card interchange, while card issuers' cost of funds and profit margins take 35%, and network branding efforts account for 3%, according to a new report issued this week. Just 13% of the acquirer-paid fee goes …
Read More »Operator Deals, NFC Could Help Obopay Stand out in Crowded Field
Seeking to distinguish itself in a growing crowd of mobile-payment processors, Obopay Inc. saw its application go live this week on Amp'd Mobile Inc., a wireless network aimed at the youth market. This development follows by one week an agreement the Redwood City, Calif.-based startup struck with ViVOtech Inc. that …
Read More »Yodlee Aims at Big Adoption for M-Banking, M-Payment Service
Yodlee Inc., which on Tuesday introduced a mobile version of its online-banking applications, expects the new product to attract between 5 million and 6 million users within the next three years, according to Aashir Shroff, senior product manager for Yodlee Mobile. The service, which allows banks to offer customers the …
Read More »TSYS Battered But Not Broken, Top Execs Say, Citing New Business
Top executives of card processor Total System Services Inc. (TSYS) on Wednesday portrayed a company that may be a bit bruised but is heading for better times. Columbus, Ga.-based TSYS even upped its 2006 profit projections and says earnings next year won't decline as much as previously forecast. TSYS late …
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