Friday , November 8, 2024

Digital Transactions News staff

LexisNexis Looks to ID for Transactions As Its Next Step

With the unrelenting rise of phishing attacks, banks and merchants are hunting for new ways to secure the identity of consumers in online transactions. That's creating opportunities for companies like LexisNexis, proprietor of one of the world's largest databases of public-record information. Now the company's RiskWise unit is looking at …

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Popularity of Gift Cards May Cause a Problem for Online Merchants

The expected surge in gift cards received this holiday season may cause a problem for online merchants that try to match billing addresses given by consumers at checkout with those on file with issuers before authorizing transactions, says ClearCommerce Corp. Online retailers will usually set their address-verification systems (AVS) to …

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Viewpointe’s Image on Demand System Goes Live with First Bank Duo

Viewpointe Archive Services LLC became the latest image-exchange venture to go live today when First Horizon and SunTrust Banks became the first banks to clear checks through the service. Earlier this fall, the Small Value Payments Co., New York, began moving check images for client banks, and Endpoint Exchange Inc., …

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Return Rates on ARC Dropping Even As Volume Soars, NACHA Says

Return rates on accounts receivable check conversions are dropping despite the rapid clip at which the volume of these electronic payments is climbing, new data from the National Automated Clearing House indicate. The ARC category of ACH debit, created in March 2002, has gone from 5.3 million transactions in the …

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CVS Will Roll Out AmEx’s ExpressPay, But AmEx Loses Walgreen’s

It has been an eventful week for American Express Co. Today the company announced that Woonsocket, R.I.-based drugstore chain CVS Corp. has agreed to serve as the first national merchant to accept ExpressPay, an AmEx system that relies on radio waves rather than card swipes to authorize transactions. This news …

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AmEx-Citi Is Great PR for AmEx, But How Profitable Will It Really Be?

Citigroup Inc.'s decision to issue American Express cards may turn out to be a more symbolic than substantive victory in the credit card wars for AmEx, according to some observers. “It's clearly a victory, but more a marketing victory,” says Gwenn Bezard, a payments-industry analyst at New York-based research firm …

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Visa Logs Busiest Weekend Yet for This Year’s Holiday Season

Visa U.S.A. says spending on its cards over the past weekend was the strongest yet seen this holiday shopping season, exceeding spending during the so-called Black Friday weekend after Thanksgiving by 15%. Indeed, Black Friday itself now ranks third in Visa spending, behind the volume reached this past Friday and …

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BitPass Rolls out a Hosted Service for Small Sellers of Digital Content

Bitpass Inc., a 2-year-old processor of micropayments on the Internet, has rolled out a new service allowing individuals and small businesses to sell music, photos, or other digital content without creating an e-commerce site. Palo Alto, Calif.-based Bitpass says it will host the content for sellers and handle payments, “from …

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CyberSource Sees Online Holiday Traffic Peaking Next Tuesday

CyberSource Corp. predicts that the increase in holiday spending online will be about equal with the rise in volume seen during the same time in 2003, disputing the estimates of some observers that e-commerce traffic growth will be lower this year. Growth last year in the fourth quarter was 25% …

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Apple’s iTunes Begins Accepting PayPal for Song Downloads

Apple Computer Inc.'s iTunes Music Store has announced it is accepting PayPal in the U.S. for payment of song downloads, audiobooks, and gift certificates, effective today. The development represents a major breakthrough for the San Jose, Calif.-based payments unit of eBay Inc. and comes a year after the company slashed …

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