Tuesday , November 26, 2024

Digital Transactions News staff

Why the U.S. Is a Low Priority for Canada’s Dexit

Dexit Inc., a Toronto-based processor of stored-value transactions using radio-frequency identification (RFID) technology, is expanding nationally in Canada and will begin processing transactions in other parts of the world next year?but not in the U.S. any time soon. Dexit, which allows consumers to use chip-embedded keychain “tags” to tap accounts …

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Magex Acquires OPT, Plans Major Stored-Value Expansion in the U.S.

Magex Ltd., a London-based e-commerce and person-to-person transaction processor, has acquired Open Payment Technologies Inc., a provider of stored-value card systems to restaurants, supermarkets, and other merchants. A price was not disclosed. Phoenix-based OPT will become a division of Magex, and Dave Ingwersen, OPT's president, is assuming the title of …

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An Interchange Tussle with a Twist: Retailers Against Zero Pricing

The Reserve Bank of Australia is likely to mandate zero interchange for debit card transactions at the point of sale linked to personal identification numbers in that country, according to a report in The Age, an Australian news service. This action if taken would follow the Australian central bank's decision …

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Maestro Links to SecureCode in Europe, Grows in North America

MasterCard International reports that 7 million of its 545 million debit cards linked to personal identification numbers worldwide are now enabled for use with SecureCode, the card network's security program for Internet transactions on credit and debit cards. Most of this activity is in Europe. MasterCard says some 5,800 Web …

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America West Becomes First Airline to Adopt Bill Me Later

America West Airlines, a unit of America West Holdings Corp., has become the first airline to adopt I4 Commerce Inc.'s Bill Me Later Internet payment system. To encourage usage of the new payment option, the Phoenix-based air carrier is offering deferred billing for 90 days or more to qualified customers, …

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Way Systems Heats up the Market for Wireless Transactions

The market for wireless point-of-sale credit and debit card transactions is about to heat up. Founded in 2002, Boston-based Way Systems Inc. is introducing a point-to-point processing system that includes mobile phones equipped with card swipes, security and transaction programming, and keypads for personal identification numbers. The swipe, keypad, and …

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Kryptosima Banks on a New Network, New Money, and ISOs

A Hampton, Ga.-based processor that has tried for four years to bring to market a system to enable on the Internet debit card transactions linked to personal identification numbers may be close to signing an additional network for access to PIN debit accounts. Kryptosima, a unit of InstaPay Systems Inc., …

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Canadian PIN Debit Holders Set to Start Using NYCE POS in the U.S.

An arrangement hammered out last spring between Toronto-based Acxsys Corp. and the NYCE electronic funds network, Montvale, N.J., to allow Canadians holding Interac cards to use their cards at all NYCE-linked merchants in the U.S. will switch on next month. The program, dubbed “Cross Border Debit,” is the first extension …

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SVPCo.’s Image Exchange Goes Live with KeyBank, Chase

A network built by New York-based Small Value Payments Co. (SVPCo.) to allow banks to exchange check images has begun operations with exchanges between KeyBank and J.P. Morgan Chase. The network began with volume at a “controlled” level to allow each bank to test operations, according to an announcement from …

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