Digital Transactions Authoritative, insightful and timely information for payments professionals
While some analysts and retailers are describing the 2006 holiday spending period as mediocre, the recently ended season turned out to be bountiful for the nation's leading merchant acquirer, Dallas-based Chase Paymentech Solutions LLC. Chase Paymentech, which publishes its Chase Paymentech Pulse Index of holiday transaction and sales volume generated …
Read More »Early Success at TigerDirect Could Boost SECURE-eBill’s Prospects
It's early yet, but both daily transactions and average order value have been rising for payments accepted by TigerDirect Inc.'s Web site through online payment system SECURE-eBill, says Marwan Forzley, the chief executive of Ottawa-based MODASolutions, which markets the system to online merchants. TigerDirect, a Miami-based merchant that sells electronics …
Read More »More Vending Machines, Plus Toll Road, Taking Contactless Payments
MasterCard Worldwide and USA Technologies Inc., which have been working together to equip vending machines to accept card payments, including contactless transactions, have announced the first deployments in a planned 5,000-machine rollout. The two companies also said they are installing gear on the Ohio Turnpike to accept contactless tokens for …
Read More »MasterCard Targets Unbanked With Prepaid Retailer Network
MasterCard prepaid cards received new utility this week when MasterCard Worldwide launched a network of retailers, dubbed MasterCard rePower, at whose locations cardholders can use cash to add value to MasterCard- and Maestro-branded prepaid cards. The first rePower reload transaction took place Monday at a Village Pantry convenience store in …
Read More »How ECHO Fits Into Intuit’s ‘Single Payments Portal’ Strategy
Mutual need brought Electronic Clearing House Inc. (ECHO) and Intuit Inc. together in the $142 million deal, announced last week, that will make Camarillo, Calif-based processor ECHO part of Intuit, Mountain View, Calif., some time in the first quarter (Digital Transactions News, Dec. 15). Intuit, marketer of the popular QuickBooks …
Read More »Intuit Offers $142 Million for ECHO To Cap Payments ‘Portal’
Intuit Inc. has notched yet another acquisition calculated to augment its widely used accounting software with electronic-payments capability by agreeing to pay $142 million in cash to buy Electronic Clearing House Inc. (ECHO), a publicly held, Camarillo, Calif.-based processor of card and automated clearing house transactions. The deal, which is …
Read More »PayPal Says Monster Signing Sets Stage for ’07 Site Recruitment
PayPal Inc., the online payment service of online auction firm eBay Inc., has signed another big company in its quest to expand beyond eBay users, and the processor says more such clients are coming next year. This week, Monster, the leading online job-search and recruitment service, said it has begun …
Read More »Visa Announces PCI Compliance Carrots to Go Along With Sticks
Hoping to push up compliance with its data-security rules, Visa USA on Tuesday announced first-ever incentives?including cash payments–to go along with new penalties for acquiring banks that serve the 1,200 largest Visa-accepting merchants. The carrot-and-stick package, intended to get acquirers to bring more merchants into compliance with the Payment Card …
Read More »Heartland Seeks Banks for ‘Holistic’ Card for Small-Ticket Market
Heartland Payment Systems Inc. is working on a technology platform that would support multiple accounting and transaction functions on a single card, the processor's chairman and chief executive revealed in a presentation last week. Speaking to an audience of merchants, processors, and bankers interested in converting small-value cash payments to …
Read More »Report: Get Ready for a Sizzling Market for BOC Transactions
A new electronic check-conversion application set to go live in March at retail and other check-accepting businesses could become one of the fastest-growing products ever introduced for the automated clearing house (ACH) network, generating 425 million transactions in 2007, predicts a new study from Boston-based market researcher Celent LLC. The …
Read More »