Digital Transactions Authoritative, insightful and timely information for payments professionals
Qpass Inc., whose software handles mobile-commerce transactions for wireless networks, processed almost $500 million in digital-content sales, up 50% over the like period in 2005, according to Amdocs Inc., Qpass's parent company. Transaction volume grew at an average quarterly rate of 12% in the period, Amdocs said. The St. Louis-based …
Read More »Market Forces, Including Interchange Cases, Spur Visa to Plan for IPO
Facing many of the same pressures that led its rival MasterCard Inc. to go public earlier this year, Visa announced on Wednesday it plans to scuttle the membership-association structure that has characterized it throughout its 36-year history in favor of a sweeping reorganization that will lead to ownership by the …
Read More »As Image Exchange Traffic Climbs, More Banks Clear Image Files
Image-exchange volumes continue to climb at a steady pace, and so does the volume of checks settled through image networks as images rather than as paper substitute checks, new data show. SVPCO's Image Payments Network, which links 15 large financial institutions and is the country's largest image-exchange system, reported Monday …
Read More »No Single Strategy Will Unlock the Pint-Size Payments Market
Consumers spend up to $1.5 trillion a year using on small purchases using cash, depending on who's estimating, but converting so-called micropayments into electronics will be one of the payment card industry's tougher challenges. Experts contacted by this newsletter's sister publication Digital Transactions magazine for an upcoming story on micropayments …
Read More »For Now, NFC Payment Hindered by Skeptical Carriers, Expert Says
Consumers who participated in a recently ended test in Atlanta of contactless payment on mobile phones may have warmed to the technology (Digital Transactions News, Sept. 8), but banks, transaction processors, independent sales organizations, and other players looking to cash in could now face a formidable hurdle: the wireless phone …
Read More »Eye on ATMs: Pass Code Hacker Fallout, Chase Network Expansion
A security expert says publicity about a hacker who was able to trick a cash dispenser into giving out four times as much cash as it debited may do some good in preventing this type of fraud. “I think awareness will go up because of this, and that's half the …
Read More »Tab for E-Commerce Glitches Could Be $60 Billion by 2010
Problems with transactions could cost e-commerce merchants and other Internet businesses some $60 billion in sales through 2010, according to a consumer survey released Monday. Altogether, 88% of consumers reported problems with transactions at shopping, banking, travel, and insurance sites. About one-third of consumers who run into checkout or payment …
Read More »Payments Group Plans to Ride Wave Made by New Microsoft OS
In coming months, software colossus Microsoft Corp. will be reaping bushels of publicity about Microsoft Windows Vista, the newest version of the world's leading desktop operating system that's scheduled for release early next year. Along for the ride, and with a novel approach to the electronic payments business, is a …
Read More »After Some Delay, Check Imaging at ATMs Is Serious Business
Check imaging at ATMs is poised to become a big business, much bigger even than some experts had thought up to now. Driven by the Check Clearing Act for the 21st Century (Check 21), enacted in October 2004, banks are just now starting to equip machines to take so-called envelopeless …
Read More »Yodlee Heats up Bill-Pay Rivalry with Product That Eases Switching
Yodlee Inc. announced Tuesday it plans to introduce new technology that could heat up competition in electronic bill payment by letting consumers switch more easily from an online bill-payment program at one bank to that offered by another. The Redwood City, Calif.-based provider of Internet banking software says it will …
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