Saturday , May 3, 2025

Acquiring

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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FDC Hires a Telecom Veteran to Expand ISO Sales Programs

John Barrett, a 16-year veteran of MCI Corp., has joined First Data Corp. to run the processor's merchant-sales operations through independent sales organizations and sales agents. In his position as senior vice president for FDC's third-party sales channel, Barrett will have responsibility for all merchant-sales efforts through third parties at …

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POS Experts Raise Questions About IFX

Proposals to extend a transaction-messaging protocol based on extensible markup language (XML) to the retail point of sale are meeting some skepticism among current and former POS terminal executives. The protocol, known as interactive financial exchange (IFX), relies on the flexibility of XML, an Internet language, to simplify messaging across …

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Atmel and OTI Announce First Major Order for PayPass Gear

On Track Innovations Ltd. and Atmel Corp. announced today they have received the first order for microprocessors in “commercial quantity” for MasterCard International's PayPass contactless payment program. OTI said it also expects orders for card readers to support rollouts of PayPass cards by issuers later this year. The two companies …

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Report: Australian Merchants Don’t Pass on Interchange Savings

Retailers who object to current levels of interchange fees on electronic transactions often argue the levy forces them to charge consumers more for goods in their stores, driving up prices and penalizing customers. But a recent report out of Australia undercuts that argument. It finds that prices did not decline …

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Pay By Touch: Another Store Signs Up, Along with Discover

Pick 'n Save Metro Market, a supermarket in downtown Milwaukee, today began accepting transactions secured by Pay By Touch, a San Francisco-based company that authenticates payments through digital representations of customers' fingerprints. This development comes shortly after the announcement of a co-marketing agreement between Pay By Touch and Discover Financial …

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Interchange Fair Payment for Value, Visa and Others Contend

Defenders of interchange for electronic credit and debit transactions argue merchants are losing sight of the value interchange pays for. The subject of interchange has become hotly contested in the wake of lawsuits by retailers challenging it or aspects of it, and following recent interchange hikes by the bank card …

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Moneris Introduces Check Conversion to Complement Credit, Debit

Moneris Solutions U.S. Group, Chicago, has rolled out a check-conversion and check-authorization service for merchants at the point of sale that combines with the processor's credit and debit card product. The company says it is introducing the new offering to round out its arsenal of processing services for merchant clients …

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Reeve Quits Lightbridge Four Months After Buying Authorize.net

Pamela D.A. Reeve, long-time president and chief executive of Lightbridge Inc., has resigned from the Burlington, Mass.-based company, which this spring acquired Authorize.net, a major transaction gateway for Internet merchants, from Infospace Inc. Lightbridge announced that Robert Donahue, a member of the company's board, would step in as interim president …

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Digital Transactions