Digital Transactions Authoritative, insightful and timely information for payments professionals
n n n n n n n n n n n
Read More »In a P2P Play, Fiserv Snaps up CashEdge for $465 Million in Cash
n n n n n n n n n
Read More »S1, Fundtech Agree to Merge in Deal That Hinges on ‘Transaction Banking’
n In the merger, Fundtech shareholders will receive 2.72 shares of S1 common stock for each Fundtech share, leaving S1 shareholders with a 55% stake in the combined entity. The new company will be rechristened Fundtech Corp. and will be based at S1’s headquarters in Atlanta. Reuven BenMenachem, chief …
Read More »Wells, BofA Walk Away from Pariter, Their Joint ACH Processing Platform
Three years after introducing a joint venture aimed at processing automated clearing house transactions between the two banks, Wells Fargo & Co. and Bank of America Corp. have abandoned the operation, which they called Pariter. “It will shut down over the next few weeks,” a Wells spokesperson tells Digital …
Read More »A Private Investment Firm Picks up Regulus, J&B for $137 Million
In a deal that underscores the growing importance of electronic billing and presentment, New York City-based private-investment firm Cerberus Capital Management has agreed to buy the Regulus and J&B Software payments units from India-based 3i Infotech Ltd. The deal, valued at $137 million, is expected to close within about …
Read More »Secure Vault Payments Will Go Mobile Later This Year with Bar Codes, Exec Says
Secure Vault Payments will announce a mobile application next month for the U.S. market, a top executive with the online-payments service tells Digital Transactions News. The mobile application, which will work on Apple, Android, and BlackBerry smart-phone systems, will start with a pilot in the fall and be in commercial …
Read More »Common in Acquiring, Sharing of Bad-Merchant Data Comes to the ACH
Taking a cue from bank card merchant acquirers, bank processor Fidelity National Information Services Inc. (FIS) and NACHA on Monday announced the formation of the Terminated Originator Database, a new service to help banks identify businesses that other banks have cut off from originating automated clearing house transactions because of …
Read More »The Fed’s Same-Day ACH Service Gets off to a Slow Start
More than eight months after it introduced same-day settlement for automated clearing house transactions, the Federal Reserve has attracted only a handful of banks for the service. “It’s been a long struggle,” Steven Cordray, retail payments project manager at the Atlanta Fed’s Retail Payments Office tells Digital Transactions News. Speaking …
Read More »Account Takeover Fraud Starts to Plague Businesses, AFP Study Shows
Checks caused most of the losses suffered by businesses victimized by payment fraud in 2010, which is no surprise. Businesses, however, are now falling victim to newer types of fraud, particularly account takeovers, that fraudsters have used against consumers in recent years, according to the Association for Financial Professionals’ latest …
Read More »Operator Creates Marketing Council To Build Awareness of Secure Vault Payments
The operator of the Secure Vault Payments network for online automated clearing house payments said it is creating a marketing council to promote awareness and usage of the new payment system. The council has the endorsement of ACH governing body NACHA, said Denver-based SVP operator eWise Systems USA Inc. Dean …
Read More »