Digital Transactions Authoritative, insightful and timely information for payments professionals
Discover Financial Services LLC last week completed a summer hat trick of partnerships with bank card merchant acquirers to broaden acceptance of its brand, and the card unit of Morgan Stanley says it's not finished. Discover announced its latest deal, involving Atlanta-based RBS Lynk Inc., one day after news broke …
Read More »Iron Triangle Vaults Acquiring Ranks with Deal to Buy BA ISO Unit
Iron Triangle Payment Systems LLC, a 3-year-old Louisville, Ky.-based processor that has been steadily pursuing plans to build an acquiring business by buying independent sales organizations, on Friday announced it is taking over the ISO business belonging to BA Merchant Services Inc. for an undisclosed sum. By adding the business, …
Read More »Discover Signs up Global Payments, Is Talking to Other Top 10 Acquirers
In a deal on which the two parties spent the weekend hammering out final details, Discover Financial Services LLC and Global Payments Inc. on Monday said Global would take over processing and other acquiring functions on Discover transactions with merchants for which Global processes Visa USA and MasterCard Worldwide transactions. …
Read More »Valista Sees New Hosted Gateway As Key to U.S. M-Payments Market
Looking to make inroads in the U.S. mobile-commerce market, Valista Ltd. has launched a hosted version of its payments-gateway product and has aimed it squarely at mobile operators hoping to cash in on the trend toward so-called off-deck transactions. The payments-software vendor, based in Dublin, Ireland, and in San Mateo, …
Read More »BankServ Enters P2P, Mobile Payments Business with Magex Deal
The U.S. person-to-person payments business, including P2P payments on cell phones, attracted yet another entrant with the announcement Tuesday by BankServ Inc. that it had acquired the managed-payments platform of Magex Holdings Ltd., a U.K. company, for an undisclosed sum. In the deal, San Francisco-based BankServ, a 10-year-old private company …
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 »VeriFone Banks on a Looming Upgrade Market in the U.S. And Canada
China, India, and other high-growth payments markets get a lot of attention nowadays, but leading U.S.-based payment-terminal marketer VeriFone Holdings Inc. still sees plenty of opportunity close to home. San Jose, Calif.-based VeriFone's aggressive focus on North America comes even as its pending acquisition of Israel-based rival Lipman Electronic Engineering …
Read More »My Payment Network Looks for Growth from Resellers, New Clients
My Payment Network Inc., a Corte Madera, Calif.-based startup specializing in invoice-based electronic-payment processing for schools and small businesses, says its SchoolPay product could reach between 3,500 and 4,000 schools in the coming year, up from more than 50 at the end of the 2005-06 academic year. At the same …
Read More »PNC Joins Small But Growing Bank Trend Toward Free ATM Usage
Pittsburgh-based PNC Bank said today it will reimburse its customers for ATM fees they incur when they use other banks' ATMs anywhere in the world. The program, which begins Sept. 1, means the bank's 2 million retail-banking customers will receive rebates for ATM surcharges as well as the so-called foreign …
Read More »Discover Scores U.S. JCB Transactions in Latest Deal to Open Network
In the latest of a series of moves to open its network to outside card issuers and transaction processors, Discover Financial Services LLC on Wednesday said Discover Network will begin processing transactions for JCB International Credit Card Co. Ltd. some time next year. In 2008, Discover cardholders will be able …
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