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Heartland Payment Systems Inc., one of the few publicly traded independent sales organizations, today reported its revenues jumped 39% in the first quarter, to $236.8 million, on a 34% increase in transaction volume, to $9.2 billion. Net income for the period came to $4.39 million, a 63% increase. The Princeton, …
Read More »In Wake of Big PIN Breach, Visa Tightens Debit-Fraud Controls
At a time when debit card fraud is generating unwelcome headlines, Visa USA is taking two new steps to enhance its information about fraud involving payment cards that rely on personal identification numbers for security. With the goal of spotting fraud trends early and keeping overall fraud under control, Visa …
Read More »Survey: Youth Market Not Sold on Mobile Payments, After All
The youth market may not be the slam dunk for mobile payments that payment processors, card issuers, and merchant acquirers have thought it would be. According to survey results released this week, some 62% of persons aged 16 to 43?the so-called Gen X and Gen Y?say that using cell phones …
Read More »As Its IPO Awaits, MasterCard Logs Strong Results, Names Directors
With its long-expected initial public offering of stock fast approaching, MasterCard Inc. reported strong results for the first quarter and indicated it expects its stock to sell for between $40 and $43 per share. It also named six new directors who will join its board of directors after it becomes …
Read More »Eye on RFID: Utah Transit, Arby’s Plan for Contactless Payment
The Utah Transit Authority in November will begin accepting contactless payment tokens in a pilot project that will represent the first use of contactless technology to process bus fares in the U.S. The Salt Lake City-based transit agency in September will begin equipping 41 buses that ferry passengers to local …
Read More »MX Telecom Looks for Rapid Growth in SMS-Based Mobile Payments
The recent launch of mobile-payment services based on short-message service (SMS) transmissions is casting a spotlight on specialist gateways that provide links from payment processors to wireless carriers. One, MX Telecom Inc., counts among its clients both PayPal Mobile, which PayPal Inc. launched earlier this month (Digital Transactions News, April …
Read More »Phishing Hits Record Levels As Malware, Redirectors Proliferate
Phishing hit an all-time high in March, with the number of reports of the online fraud reaching 18,480, according to the Anti-Phishing Working Group, which follows the trend. That's 603 more than the previous peak in January and more than 1,300 more than in February, the group reports. By way …
Read More »A BankAmericard Redux Poses Risks But Could Reap Rewards for BofA
The possibility that Bank of America Corp. could start its own payment card network and brand poses some big risks and would bring big expenses for the Charlotte, N.C.-based banking giant, though it could enable BofA to differentiate itself in a mature card industry, analysts say. Reports that BofA chairman, …
Read More »PCI’s POS Costs Slow Retailer Adoption, Terminal Exec Says
Reluctance by merchants and independent sales organizations to assume the added costs of compliant terminals is contributing to the apparently slow rate at which retailers are adopting the Payment Card Industry data-security standard, an executive with a major terminal maker says. According to recent data from Visa USA, one of …
Read More »AmEx Discount Revenues Grow, but Rate Continues To Slip
Boosted by higher charge volume on its cards, American Express Co. on Monday reported in its first-quarter financials that discount revenue grew 13% to $2.97 billion, up 13% from $2.64 billion in 2005's first quarter. The travel-and-entertainment giant however, warned of “some erosion” in the average discount rate in the …
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