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Electronic bill-payment and presentment technology may be CheckFree Corp.’s sexiest products, but bank processor Fiserv Inc. will be get access to other fast-growing markets when its planned $4.4 billion cash acquisition of CheckFree, announced Thursday, closes. Most notable, perhaps, is that CheckFree just happens to be the leading provider of …
Read More »As Fishy Orders Rise, Startup Plans Product to Manage Online Fraud
A startup company managed by former executives from online travel agency Orbitz LLC plans to release in the fourth quarter a software product that will let online merchants manage the gamut of transaction fraud issues, from front-end screening to automated order review to chargeback processing and, eventually, back-end collections and …
Read More »Eyeing Decoupled Debit Cards, Tempo Begins Wooing Bank Issuers
With an eye to Capital One Financial Corp.'s introduction last month of a so-called decoupled debit card product, which relies on settlement through the automated clearing house network and so does not require cardholders to have a demand-deposit account with Cap One (Digital Transactions News, June 7), debit network sponsor …
Read More »How a Startup Processor Plans to Take on NACHA in Web Payments
A Bellevue, Wash.-based startup plans to have a Web-based payment system in operation some time in 2008 that will look strikingly similar to one that NACHA-The Electronic Payments Association has spent the past several years developing. Metafos Inc., which formed only 18 months ago, is talking to banks and online …
Read More »Why Synovus Is Optimistic About NACHA’s Secure Vault Payments
Unlike its experience with online bill payment, Synovus Financial Corp. expects ultimately to generate significant revenue from a new Internet payments system based on the automated clearing house for which a 12-to-18-month pilot will start by October. Exactly how much revenue, however, may depend on the pilot itself, as well …
Read More »How BOC’s Costs Create Opportunities for Check Processors
The back-office conversion e-check code has been live for nearly two months now, and, as many predicted with its March 16 debut, it came in like a lamb. There have been few, if any, high-profile product launches or other splashy events associated with the new automated clearing house payment option. …
Read More »NACHA Will Soon Unveil Pricing for Its Online Payments Pilot
NACHA-The Electronic Payments Association expects to release pricing details in about two weeks for its long-awaited online-payments pilot, an official working on the project says. The details will set out a form of interchange fee merchants' banks will pay to banks that will authorize transactions and authenticate consumers, as well …
Read More »With Carreker in Hand, CheckFree Plans ‘All-Transactions’ File
Bolstered by its recent acquisition of Carreker Corp., CheckFree Corp. is working on a product that will allow banks to view and manage both check and automated clearing house data in one integrated file. The new system, which will also permit long-term storage of ACH data, will be linked to …
Read More »ACH Growth Sparking Membership Surge, NACHA Chairman Says
The rapidly increasing importance of electronic payment channels is behind the recent surge in membership at NACHA-The Electronic Payment Association, according to the Herndon, Va.-based association's chairman. Four financial institutions have joined NACHA as direct members?meaning they get a vote on rules governing the automated clearing house?so far this year, …
Read More »Star To Test PIN-less Debit for Online Micropayments
With the aim of expanding the debit card's reach into the booming world of Web-based micropayments, the Star electronic funds transfer network plans to start testing PIN-less online debit payments within a few weeks. The test will run about four months and involves Solana Corp., which will act as an …
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