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A provider of mobile-banking and ?payments software has begun promoting a memory card for cell phones that it says could allow financial institutions to move forward with contactless mobile payments without the need to work with wireless carriers. Portland Ore.-based Tyfone Inc., founded four years ago, is testing its Secure …
Read More »A Senate Letter Ratchets up the Heat on Networks over Interchange
A bipartisan letter last week from four U.S. senators to Visa Inc. and MasterCard Inc. demanding information about how they set interchange rates is ratcheting up the pressure on the card networks, and it could represent another step on the U.S. road to joining about 20 other countries that either …
Read More »Payment Issues Figure Among Reasons for Checkout Abandonment
Various issues with payment methods loom large among reasons consumers give for abandoning the checkout process on e-commerce sites, according to a survey released on Wednesday by PayPal Inc. Some 22% of 355 consumers who had abandoned shopping carts at a mix of large and small merchant sites before completing …
Read More »How Far Will BofA And Wells Go with Their New ACH Platform?
While the recently unveiled joint venture between Bank of America Corp. and Wells Fargo Co. to create a common platform to process automated clearing house transactions isn't scheduled to become operational until 2010, the venture's very announcement by two of the biggest financial institutions in the country has sparked industry …
Read More »Igourmet Says Security Led It to Adopt Secure Vault Payments
The first merchant to sign up for an Internet-based payment system that relies on consumers' online-banking programs and settlement through the automated clearing house network says the system appeals to customers who are fearful of entering credit card details on Web sites. The merchant also hopes the new system will …
Read More »A Fast Start for Online Resources’ Expedited Bill-Pay Offering
Internet banking and bill-payment services provider Online Resources Corp. this week unveiled its expedited bill-pay service for financial institutions and walk-up providers to offer to consumers and small-business users, ratcheting up rivalries in the fast-growing realm of last-minute payments. While the expedited bill-pay market has some bigger competitors, including Fiserv …
Read More »Answering Analysts, First Data Keeps Mum About Chase Paymentech
When it comes to information about the uncertain future of Chase Paymentech Solutions LLC, the world's largest merchant acquirer, the analysts just weren't taking no for answer. The occasion was processor First Data Corp.'s first-quarter earnings conference call on Friday, during which the company also revealed that it had spent …
Read More »Alternative Payments Make Gains Among Mid-Size Web Merchants
Major-brand credit card acceptance is a given, but the alternative payment forms are gaining traction among mid-sized e-commerce retailers, according to a recent survey by First Annapolis Consulting Inc. Some 41% of the merchants surveyed reported accepting at least one alternative payment form, and nearly half of those accept at …
Read More »Coming Soon to Cardtronics Vcom Kiosks: Imaged Deposits
Non-bank ATM network operator Cardtronics Inc. has been trying to pump up transaction volume on its advanced-function Vcom machines ever since it bought them last July from 7-Eleven Inc. as part of the 5,500-machine ATM fleet the convenience-store giant unloaded for $137.3 million. Next week, part of that strategy takes …
Read More »Cap One Says Its Decoupled Debit Card Pilots Ended on Schedule
Capital One Financial Corp. ended a pair of merchant pilots involving its decoupled debit card product because the tests were scheduled to end, a spokesperson for the financial-services company tells Digital Transactions News. “They were initiated as pilot programs and they've run their course. That's it,” says the spokesperson in …
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