Digital Transactions Authoritative, insightful and timely information for payments professionals
Sales of high-tech products such as wireless and Internet Protocol payment terminals helped VeriFone Holdings Inc. post a 21% revenue gain in its first fiscal 2006 quarter, but merchants with limited needs also helped out. In an analysts' conference call late Thursday afternoon, chairman and chief executive Douglas G. Bergeron …
Read More »U.S. Encode Readies a CD/Mag-Stripe Card for Online, POS Use
A small San Diego company is working on a new type of transaction card that combines the characteristics of a compact disk and a mag-stripe card, allowing consumers to perform both credit and debit transactions online as well as at physical points of sale. U.S. Encode Corp., incorporated in 2002, …
Read More »The FTC Puts One Security Compromise to Rest, But More Await
The Federal Trade Commission announced on Thursday a proposed settlement with the successor to CardSystems Solutions Inc., the merchant processor that gained notoriety last year as the source of the largest known compromise of financial data to date. The settlement, which did not include fines, arose out of the FTC's …
Read More »MobileLime Announces A New NFC Platform for Cell-Phone Payments
Boston-based Vayusa Inc., whose MobileLime network serves some 80 merchants for payments initiated from consumers' cell phones, plans to begin supporting transactions based on the near-field-communication (NFC) standard in the second quarter. Announcing its new NFC platform today, the company says consumers with MobileLime accounts will be able to use …
Read More »Interchange Caps Not Wanted, C-Stores Chief Tells Congress
The battle over interchange, which has already spawned some 47 antitrust suits against the bank card networks and major banks, reached the U.S. Congress today as advocates for both retailers and banks traded sometimes barbed arguments before a panel holding a one-day hearing to look into the networks' pricing mechanism. …
Read More »December Brought No Holiday Cheer to Those Fretting over Phishing
December was an ominous month for banks, retailers, processors, and other service providers concerned about the safety of the Internet commerce channel. Although the reported number of phishing incidents declined in the last month of last year, that drop masked alarming increases in the number of malicious Web sites launching …
Read More »Retailers’ Interchange Suits May Help AmEx More Than Merchants
Merchant litigation against bank card interchange may end up benefiting bank card network competitors like American Express Co. more than retailers, a Wall Street analyst who has followed the interchange controversy cautioned this week. If successful in forcing Visa USA and MasterCard International and their members to cut interchange rates, …
Read More »Interchange Cases To Yield Consolidated Complaint in 60 Days
A consolidated complaint arising from some 47 interchange lawsuits filed by merchants and merchant groups against the bank card associations over the past seven months will likely emerge within 60 days, with certification of a class coming by fall, a lawyer representing some of the merchants said today. The various …
Read More »Top Exec at the New Chase Paymentech Sees Smooth Transition
With the melding of Chase Merchant Services and Paymentech L.P. going smoothly as the new Chase Paymentech Solutions LLC, boss Michael P. Duffy foresees his giant merchant-acquiring firm doing more than $600 billion in charge volume this year. In an interview for a story to appear in Digital Transactions' March …
Read More »Settlement with NCR Positions DataTreasury to Move into ACH and Cards
With its settlement today with NCR Corp., DataTreasury Corp. will be able to tap technology that will allow it to move beyond check processing and into technology supporting automated clearing house and card transactions, the company's lead counsel says. The small Melville, N.Y. technology company, which had sued NCR early …
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