A Cincinnati-based company that specializes in the repair and refurbishment of ATMs has won a comprehensive class of approval from Visa International for a device it invented to bring installed ATMs into compliance with new card-network security protocols. The approval from Visa means any older ATM incorporating the device will …
Read More »Acies Combines with Atlantic Synergy, Maps Acquisition Strategy
Acies Inc., an independent sales organization based in New York, today announced it has entered into an agreement with Fort Pierce, Fla.-based Atlantic Synergy Inc., under which the ISO will become a subsidiary of Atlantic Synergy and hold a controlling interest in the company. As part the acquisition, Atlantic Synergy, …
Read More »Surging Sales Push MusicRebellion to Embrace Micropayments
MusicRebellion.com Inc., which operates a 3-year-old Web site selling song downloads, is getting set to adopt an updated version of a micropayments system to help handle growing volume. The Web merchant, which has been using Peppercoin Inc.'s original processing system, introduced last year, says the micropayment method accounts for between …
Read More »Official Payments Rolls out E-Checks for Government Transactions
Official Payments Corp., a Stamford, Conn.-based processor that specializes in payments to government entities, has announced it is now processing electronic checks on the Internet, with settlement through the automated clearing house. The company, which quietly began the service in December and is now trafficking e-checks for 34 government agencies, …
Read More »The Clearing House, SVPCo., And Related Companies Merge
Six New York-based payments businesses, including The Clearing House, a check-settlement processor, and Small Value Payments Co. (SVPCo.), an electronic transaction processor, will be merging over the next 12 months into a single company, The Clearing House announced today. The merger, which has been in the planning process for the …
Read More »Visa Credits Surge in Web Volume to Its Authentication Program
Visa U.S.A. reported today that the dollar volume of transactions occurring on its cards on the Internet through the first five months of 2004 is running ahead of the gain seen in calendar 2003. Through May 31, Visa's e-commerce volume on credit and debit cards jumped 59% over the year-ago …
Read More »A New NACHA Rule Would Combat Returns on All ACH Debits
The national network for the automated clearing house system is sifting through comments on a new rule that would levy fines on banks that fail to reduce return rates to below 1% for all client originators and for all categories of ACH transactions. Within a week or so, says the …
Read More »Peppercoin Aims at the POS As Well As Digital Content with Version 2.0
In an ambitious effort to capture a share of the rapidly expanding markets for both digital content and goods at the point of sale, micropayments processor Peppercoin Inc. today is announcing a second generation of the payments model it introduced commercially only last December. Considerably revised, the Waltham, Mass.-based company's …
Read More »Free Service Is Lighting a Fire Under Online Bill Payment
The movement among banks to waive or eliminate consumer fees on electronic bill payment is rapidly pushing the transaction channel into the mainstream of consumer payment products, according to the chief executive of Online Resources Corp. “Free works,” declared Matthew P. Lawlor, who is also chairman of the McLean, Va.-based …
Read More »Consumer Groups Call on Fed to Extend Reg E to Payroll Cards
The rapid growth of the market for stored-value cards issued to employees in lieu of paychecks has prompted a wide array of consumer and labor groups to petition the Federal Reserve Board to extend to payroll cards the consumer protections of the Electronic Funds Transfer Act. In a letter sent …
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