Digital Transactions Authoritative, insightful and timely information for payments professionals
Some high-profile payment-industry technology providers are reporting increases in their operating measures but are still struggling to make a profit in 2008 as they expand or try to compete in a tough market. –Boosted by demand in North America for countertop terminals and more networking and other services revenues, point-of-sale …
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 »Google Checkout Hints No Ill Effects Since Merchant Pricing Resumed
Google Checkout, the payment service of Internet search leader Google Inc., continues to add merchants and charge volume, according to a Google executive. But Google remains guarded about revealing exactly how Checkout is faring with merchants, especially after the reintroduction of acceptance pricing in February marked the end of more …
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 »New Bill Would Block Regs Aimed at Stopping Online Gaming Payments
Implementation of the controversial Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) would be prohibited under new legislation introduced in the U.S. House of Representatives earlier this month. The UIGEA bans gaming sites from accepting money transfers of any kind for bets deemed to be unlawful gambling. It also directs …
Read More »PCI Council Will Tighten Data-Security Rules, Details to Come
The Payment Card Industry data-security standard, or PCI, is in line for its second upgrade since the PCI Security Standards Council took over development of the standards for protecting cardholder data from the major card networks in 2006. PCI Council general manager Robert Russo announced the coming upgrade Wednesday at …
Read More »Shell Lowers MasterCard, AmEx Pricing for Its Jobbers And Retailers
While big oil companies at times have temporarily lowered card-acceptance costs in recent years to help gas stations cope with spikes in the price of oil, Shell Oil Co. today said it would permanently lower the price of card processing as well as speed up settlement times for its jobbers …
Read More »Bankrupt Frontier Airlines Claims First Data Tried To Clip Its Wings
Leading card processor First Data Corp. on Friday found itself cast as the villain in the bankruptcy of Denver-based Frontier Airlines Holdings Inc., which claimed it sought Chapter 11 reorganization in order to prevent its card processor, First Data Corp., from increasing the so-called “holdback” on card charges and thereby …
Read More »Terminal Maker VeriFone Steps into the Busy Data-Security Arena
VeriFone Holdings Inc., a major terminal manufacturer, is entering the burgeoning business of card-data security with a product it says will secure cardholder information from the instant the card is swiped. The product, VeriShield Protect, was announced on Wednesday and encrypts mag-stripe data and the personal account number for the …
Read More »Discover Triples Its Acceptance Network with Diners Club Deal
Seemingly trapped in North America after shedding its money-losing British credit card operation in March, Discover Financial Services LLC suddenly is a global payments player with its pending deal to buy Diners Club International from Citigroup Inc.'s Citibank N.A. for $165 million in cash. The deal adds 8 million merchant …
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