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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 …
Read More »Stats Show a Surge in Paying Banks Now Receiving Check Images
Some recent statistics indicate banks are making significant headway in their ability to receive and clear electronic check images. PaymentsNation, a major clearing house for checks and check images, reported this week that the number of routing and transit numbers (R/Ts) receiving check images reached 5,275 at the end of …
Read More »A Diversifying Heartland Snaps up Alliance Data’s Merchant Unit
Best known for its focus on restaurant merchant acquiring, Heartland Payment Systems Inc. is about to become a major force in acquiring card transactions for petroleum retailers and convenience stores thanks to its pending, $77.5 million acquisition of Alliance Data Systems Corp.'s Network Services unit. Alliance Data recently put that …
Read More »Moosejaw Not Part of a Strategy to Do POS Payments, PayPal Says
While some observers have been predicting for some time that alternative-payment processors that handle transactions for online merchants will soon extend their services to the physical point of sale, Moosejaw Mountaineering's decision to start accepting PayPal at cash registers in its seven stores does not represent a conscious plan to …
Read More »First Data Gets Major Retail Prepaid Distribution with InComm Deal
With its acquisition of prepaid card transaction processor and program manager InComm Inc., First Data Corp. is picking up one of only a few major distributors of prepaid card products, a move that hands the Denver-based processing giant a substantial stake for the first time in the crucial retail distribution …
Read More »‘Challenging’ Times for Visa, MasterCard, But Debit Surges Ahead
Their networks continue to handle ever-increasing transaction volumes, but the chief executives of both MasterCard Inc. and Visa Inc. warn of “challenging” times for the U.S. payments market, particularly credit. Still, both bank card networks in the past 24 hours reported strong profit growth for their quarters ended March 31. …
Read More »PayPal Launches Its First Mobile Service on a Downloadable Application
In its first move toward a software application for mobile commerce, PayPal Inc. has launched its mobile-payments service on a new product from Sprint Nextel Corp. The Sprint product, called MyMoneyManager, is a downloadable mobile wallet allowing customers to perform banking functions from their handsets. So far, regional banking companies …
Read More »TRM Looks to Revival with $15 Million Deal for Access To Money
After a long period of downsizing and financial turbulence, non-bank ATM network operator TRM Corp. says it's getting its act in order and is ready to grow again. Portland, Ore.-based TRM just bought the New Jersey-based Access To Money network in a $15 million deal that brings another 4,200 ATMs …
Read More »Non-Auction Sales for PayPal Near Half of Processor’s Total Volume
PayPal Inc.'s drive to process a greater share of its transactions outside of the auction marketplace run by its parent company, eBay Inc., showed more signs of succeeding last week with the release of statistics indicating the online processor is now deriving almost half of its payment volume from online …
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