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Pay By Touch Solutions, which earlier this week said it will buy the assets of CardSystems Solutions Inc. for an undisclosed price (Digital Transactions News, Oct. 17), plans to rely on the Atlanta processor's links with some 27 independent sales organizations to help sell its biometric-payments product to tens of …
Read More »Pay By Touch Trumps Bid from CyberSource for CardSystems
Pay By Touch Solutions, which said over the weekend it will buy the assets of troubled card processor CardSystems Solutions Inc. for an undisclosed price, apparently trumped an earlier bid for the same assets from CyberSource Corp. CyberSource, which withdrew on Saturday the offer it had made Sept. 23, says …
Read More »PayPal Will Pay $370 Million to Buy VeriSign’s Payments Gateway
PayPal Inc. will acquire the online payments gateway business of Verisign Inc. for $370 million under an agreement reached today by VeriSign and eBay Inc., Paypal's parent company. The deal, which is expected to close before year's end, also includes a multi-year agreement under which eBay will invest in VeriSign …
Read More »Paymentech-CMS Combo Creates Huge Acquirer?with Potential Pitfalls
This week's announced integration of giant merchant acquirers Chase Merchant Services LLC and Paymentech L.P. by their respective owners (Digital Transactions News, Oct. 5) creates a single entity of unprecedented scale?more than $500 billion in annual bank card charge volume through 13 billion transactions in the U.S. and Canada?but one …
Read More »ReD Confirms Rumor It Is Seeking to Buy a Related Business
In a statement released today, Retail Decisions PLC confirmed it is seeking to buy an unnamed company “whose key activities are complementary to those of ReD.” In confirming what it called a “market rumor” about a pending transaction, the U.K.-based transaction processor and Internet payments gateway, which operates a U.S. …
Read More »JPMorgan, FDC Agree on Long-Awaited Paymentech-CMS Combo
JPMorgan Chase & Co. and First Data Corp. have come to terms on the long-awaited merger of acquiring-service providers Chase Merchant Services LLC and Paymentech L.P. in a deal that will create a behemoth processor handling 13.1 billion electronic transactions annually. According to a news release distributed this afternoon by …
Read More »One Year After Check 21, Image Exchange Still Relies Heavily on IRDs
Nearly a year after the Check Clearing for the 21st Century Act (Check 21) took effect, sparking a steady build-up in check-image exchange volume, more exchanges are being settled on paper documents than some observers expected. The reason is that many paying banks are unprepared to settle on images and …
Read More »New Research Unveils Big Challenges for Mobile Content Market
Separate reports released this week show that the market for mobile content?everything from games to ring tones to video clips and beyond?may have farther to go than previously supposed by those who see the market as a nascent source of micropayments. Also, other research reveals content marketers may have to …
Read More »‘Aggressive’ About Image Exchange, National City Watches Volume Climb
A $36-million in image-exchange technology is beginning to bear fruit for National City Corp. The Cleveland-based bank began trading digital check images in April on a network operated by SVPCO and has seen volume climb from a few hundred daily files to the current rate ranging from 10,000 to 70,000, …
Read More »Metris Will Issue Credit Cards on Discover’s Network by Year’s End
Metris Cos. Inc. announced today it will begin issuing cards on Discover Financial Services LLC.'s acceptance network by the end of the year. Metris, the nation's 11th-largest issuer of bank cards, said it will issue a new credit card under the Discover banner through its Direct Merchants Credit Card Bank …
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