Digital Transactions Authoritative, insightful and timely information for payments professionals
Banks, merchants, and others that have developed e-commerce channels can't rest easy even though Internet Service Providers and corporations are making progress in plugging a yawning hole in the underpinnings of the Internet that can allow hackers to hijack the customers of virtually any Web site. That's the assessment of …
Read More »Blockbuster-NCR Deal Heats Up Competition in Unattended Payments
The growing market in DVD rentals from vending machines became more competitive this week when video-rental icon Blockbuster Inc. announced a deal with NCR Corp. in which the maker of ATMs, other banking hardware, and kiosks this quarter will begin deploying the first of what it expects could be 10,000 …
Read More »Debit Keeps the Bank Card Networks Humming
U.S. credit card transaction and dollar-volume growth once again played second fiddle to debit, according to the latest financial reports from MasterCard Inc. and Visa Inc. And U.S. debit and still-strong international growth kept the networks' operating earnings in the black during their quarters ended June 30, although a one-time …
Read More »Amazon Ramps Up the Online-Payments Competition
Amazon.com Inc., the nation's largest Internet retailer, became a larger force in the online-payments market on Tuesday when it unveiled two services that give merchants and consumers more alternatives to eBay Inc.'s PayPal and Google Inc.'s Google Checkout, not to mention the general-purpose credit cards. Both services, dubbed Checkout by …
Read More »Obopay’s Price Hike Has Evoked No User Complaints, Processor Says
Mobile-payments processor Obopay Inc., which is increasing its fee to send money to 25 cents from 10 cents effective Aug. 7, says it has not had complaints from users despite the more than doubling in the transaction price. “We're pleased we got it right,” says Gregory Holmes, president of Obopay …
Read More »Online Banking Grows at BofA and Chase, But Who Is Active?””
Second-quarter earnings reports from Bank of America Corp. and JPMorgan Chase & Co. show strong online-banking growth at both giant institutions. BofA also reported today that its base of active bill-payment accounts is up nearly 15% from mid-2007. But subjectivity could be an element in the numbers as banks try …
Read More »With UIGEA Reform Stymied, a Web-Gambling Tax Bill Emerges
The struggle over the controversial Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) continues. Late last month, H.R. 5767, which blocked implementation of the UIGEA, was defeated in the U.S. House Committee on Financial Services. Meanwhile, a new bill related to online gambling was introduced this week by U.S. Rep. …
Read More »New Merchants, Account Growth Propel PayPal’s Non-Auction Volume
PayPal Inc.'s multiyear campaign to build up the share of transactions it processes from Internet merchants rather than auction sellers has paid off in a steady rise in non-auction volume to the point that online merchants now account for very nearly half of the processor's total volume, excluding its gateway …
Read More »Bill Me Later’s Growth Plans Don’t Stop at Amazon Acceptance
Bill Me Later Inc., the online alternative financing system, is now live on the Amazon.com site. Announced last week, that development is no surprise as Amazon back in December said it had invested in Bill Me Later and would offer the payment service to its customers (Digital Transactions News, Dec. …
Read More »A MyGallons Rival Emerges to Let Users Lock in Gas Prices
While MyGallons LLC struggles with issues surrounding the launch last week of its prepaid card that lets consumers hedge the price of gas (Digital Transactions News, July 7), another startup is emerging with a similar business model. Boynton Beach, Fla.-based GasBankUSA LLC plans to start issuing debit cards later this …
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