Metavante Corp., which today announced it is paying $610 million in cash to buy the NYCE electronic funds transfer network from First Data Corp. and its bank owners, sees the deal as part of a nearly $1 billion payments strategy that has led the Milwaukee-based processor to snap up other …

A payment system based on toll-road transponders in Dallas will expand later this year beyond the five McDonald's restaurants that have been part of the radio-frequency identification (RFID) pilot since its inception two years ago. Hummelstown, Pa.-based TransCore, which installs RFID-based toll-road systems around the world, says it will add …

Recent industry statistics paint a grim picture of how pervasive spam, and with it e-mail fraud, is becoming in the U.S. transaction economy. Brightmail Inc., a San Francisco-based provider of anti-spam software, reports that the volume of spam hit 64% of some 96 billion e-mail messages its systems filtered in …

Digency Inc. is within a month of signing its first clients for tests of a new system it has developed that fights e-commerce fraud by pinpointing Web users' geographic location, according to Ed R. Starrs, chief executive of the El Dorado Hills, Calif.-based e-commerce processor. Dubbed “Geocate,” the product has …

Use of the automated clearing house for various electronic consumer transactions continued to climb in the first quarter, rising 27% from the fourth quarter of 2003 and 123% over the year-ago period, according to the National Automated Clearing House Association, Herndon, Va. Electronic checks?in which transactions are converted to electronic …

A new national survey of debit card holders indicates a significant portion of consumers would be inclined to punish retailers and banks if they imposed fees or tried to restrict the range of accepted payment products. When asked how they would react if a merchant no longer accepted their debit …

Metavante Corp. announced today it has agreed to buy Advanced Financial Solutions Inc., an Oklahama City-based company specializing in check-processing technology and owner of the Endpoint Exchange, a network that routes electronic check images among processors and financial institutions. No price was announced, though Metavante officials said this acquisition, in …

More evidence of the possible damage being done by phishing to e-commerce emerged in survey results released today by technology research firm Gartner Inc., Stamford, Conn. The survey, which was completed last month and canvassed 5,000 adult Web users, indicates that 30 million users think they have definitely been a …

Nashville-based card payments processor iPayment Inc. reported financial results today that included a more than doubling in charge volume processed as well as hefty increases in revenue and net income. The company, which closed at the end of 2003 on a $55 million cash acquisition from First Data Corp. that …

CheckClear LLC, which owns and operates what is so far the only national image-exchange network in operation for check processing, announced today it is planning to connect to an image exchange being built by the Federal Reserve. It also said it has made an agreement to connect to imaging equipment …