Digital Transactions Authoritative, insightful and timely information for payments professionals
A banking group that is exploring how to merge electronic image exchange with the automated clearing house network expects to distribute a survey on Tuesday to financial institutions seeking to find out what their plans are for image exchange and what barriers are slowing down their movement toward receiving and …
Read More »E-Retailers’ Appetite for Payments Hikes PayPal, Checkout Acceptance
It's not yet four months old, but already Google Inc.'s Checkout Internet payment service is making an impact, with 7% of online retailers surveyed in recent weeks by CyberSource Corp. having adopted it. That compares with 35% for PayPal, 24% for e-checks and other automated clearing house debits, and 16% …
Read More »Debitman Beefs up Issuer Ranks With Wawa, Promises More to Come
Debitman Card Inc., the PIN-debit alternative network to the major card brands, on Monday signed on another issuer, and one of its top executives says more issuer announcements are coming. Getting retailers to issue as well as accept Debitman has been a major initiative for the San Mateo, Calif.-based company, …
Read More »Ex-Global Payments Exec Cohen Seeks New Growth Channels at Moneris
The new president of Moneris Solutions Inc., the U.S. arm of Canada's leading merchant-acquiring operation, says he will diversify the company's distribution channels and at the same time seek profitable niches in a highly competitive industry. Buffalo Grove, Ill.-based Moneris currently derives most of its U.S. transactions from merchants booked …
Read More »Impact of Online-Gaming Law Seen As Mixed for Processors, Banks
Three days after Congress passed a law restricting payments for Internet wagers, what seems clear is that the implications for banks and transaction processors are mixed. Observers say the new law will likely prevent most U.S. banks or third-party companies that still process online gambling payments from continuing to do …
Read More »Stuck in a Rut, POP E-Checks Get a Boost from Bentonville
After about two years of lackluster growth, e-checks at the point of sale started popping in the second quarter, according to new statistics from NACHA?The Electronic Payments Association. Sources tell Digital Transactions News that the force behind POP's sudden popularity is none other than Wal-Mart Stores Inc., the world's largest …
Read More »Will Old Risk to Credit Cards Threaten New ACH Web Proposal?
As an e-commerce payment system being developed for the automated clearing house nears a pilot scheduled for early next year, it may confront an old issue that sank an earlier such project: the potential for lost credit card sales online. That's according to an in-depth story on the ACH and …
Read More »More Than Six Months Out, the Buzz Builds for BOC
It doesn't go live until next March 16, yet the new back-office conversion (BOC) electronic-check payment option already is attracting a good deal of interest from payment processors and their customers looking to reduce volumes of paper checks and speed customer service. “We believe this new conversion code will definitely …
Read More »Now Hot, Remote Capture Will Get Hotter with Move ‘Down Market’
Merchants and other businesses that accept checks are adopting electronic truncation?also known as remote deposit capture?so quickly that one expert observer expects the number of installed systems to more than double next year. Indeed, says Bob Meara, a senior analyst at Boston-based researcher Celent LLC, demand for remote capture is …
Read More »Alternative Payments Are Gaining Online, But Not All Retailers Are Sold
The share of e-commerce dollars coming from so-called alternative payment methods will grow from 12% in 2005 to 26% in 2009, an electronic-payments expert says. And two such alternatives emerging only now will gain momentum over the coming three years, with PIN debit accounting for about 3% and NACHA's new …
Read More »