Digital Transactions Authoritative, insightful and timely information for payments professionals
BillFloat Inc. launched its service this week with a hefty vote of confidence from initial investors that include PayPal Inc. and a business proposition that grants spot credit to hard-up consumers so they can delay paying their bills. Like Bill Me Later, which grants so-called transactional credit for online purchases, …
Read More »Same Day ACH Will Be a Boon for Web And Mobile–But How Soon?
Now that same-day clearing is coming to the automated clearing house network, payments players are starting to parse the impact the faster settlement time will have on emerging payment methods that rely at least in part on the ACH. While many payments executives are enthusiastic about the change, some experts …
Read More »Consumer Payments Are Just the Start for an Ambitious FaceCash
As the payments industry waits for the commercial rollout of near-field communication technology, startups are jumping into mobile payments to fill the void. One of the latest attempts to bridge the gap between physical stores and mobile devices is FaceCash, which launched last month and allows consumers to pay merchants …
Read More »A Dedicated Code for Mobile ACH Is Still on the Table
While NACHA’s members officially signed off this week on using the existing WEB transaction code for mobile payments that use the automated clearing house network, the working group that recommended using WEB is already at work on further developments for mobile—including the issue of whether these payments should have their …
Read More »Leveraging Twitter, Twitpay Narrows Focus to Donations, Gaming
It started out as a way to pay other people through the wildly popular Twitter social network, but now a recapitalized and re-energized Twitpay Inc. is concentrating on much narrower niches where it sees greater potential. In March, using a homegrown, in-house platform, it started processing charitable donations, and in …
Read More »ProPay Takes Early Lead in Extending Data Protection to the ACH
With processors, banks, and merchants across the country buttoning down credit and debit card data to keep them out of criminal hands, processors are starting to turn their attention to the information they and their client merchants collect from automated clearing house transactions. ProPay Inc., a Lehi, Utah-based merchant processor …
Read More »PINless Debit, Card Acceptance for Consumers from Obopay
Online PINless debit transactions could get a boost if a package of four new mobile-payments services from Obopay Inc. proves to be a hit. Dubbed Mobile Money for Banks, Obopay’s new white-label service has another interesting twist besides PINless debit in that it will enable consumers to accept payment cards. …
Read More »NACHA Taps The Clearing House to Help Commercialize EBIDS
Capping a process that began last fall, NACHA announced a partner on Monday to help commercialize a system it has been piloting that lets consumers receive and pay bills electronically through the automated clearing house network. The Clearing House Payments Co. LLC, a New York City-based company whose Electronic Payments …
Read More »As 2-D Barcodes Gain Steam for M-Payments, a Novel Twist Emerges
The use of two-dimensional bar-code technology for mobile payments appears to be picking up momentum. On the heels of a major expansion of the technology, announced last week by Starbucks Coffee Co. and Target Corp., a startup company this week announced it is launching a so-called private beta for a …
Read More »The ACH Bucks a Soft Economy As Transaction Volumes Rise
A soft economy didn't prevent automated clearing house transaction volumes from growing last year, though the rate of increase slowed, according to new data from NACHA?The Electronic Payments Association. The Herndon, Va.-based governing body of the ACH reports total transactions rose 2.6% to 18.76 billion from 18.29 billion in 2008. …
Read More »