Credit Cards

The arrests announced yesterday by the federal government in an operation directed against e-commerce fraud is cause for optimism, but there's still plenty to keep online merchants up at night, according to a key executive who helped carry out the latest law-enforcement action. The government's Operation Websnare led to the …

Card transactions based on radio-frequency technology got a major boost today with the rollout of MasterCard International's PayPass system to some 715 McDonald's Corp. restaurants in New York, Dallas, and Orlando, Fla. The stores will go live with PayPass later this year, MasterCard says, and an undisclosed number of further …

With an increasing number of consumers checking credit card statements and paying bills online at credit card issuers' Web sites, Keynote Systems Inc., San Mateo, Calif., announced it will begin measuring the speed and reliability of nine sites as part of a benchmarking index. The company, which specializes in measuring …

Worldwide discount-fee income jumped 18% for American Express Co. on sharply higher cardholder spending in the second quarter, though the card network's average discount rate drifted slightly downward. The company's U.S. card billings hit $75.7 billion in the quarter, a 17% increase over the year-ago period. Even faster card spending …

Following its agreement earlier this year with Chase Merchant Services L.L.C. for transaction-processing services, Burger King Corp. announced today it is deploying high-speed-capable card terminals in its restaurants across the country. In the past four months, it has installed VeriFone Omni 3750 devices in some 2,000 of its restaurants in …

Carl F. Pascarella's decision to retire in September 2005 as chief executive of Visa USA is being greeted in the payments industry with expressions of praise for his leadership in transforming the San Francisco-based bank card network from a one-dimensional credit card company into a force to be reckoned with …

Making transactions more efficient has long been a driving force behind the conversion of paper-based to electronic systems, but now a new report shows how efficiencies derived from electronically processed payments contribute to a national economy. The report, entitled “The Benefits of Electronic Payments in the Canadian Economy,” was released …

Paymentech L.P. today won the entire credit and debit card processing business of five operating units of IAC/Interactive Corp., parent company of a number of online businesses. The multi-year deal includes Ticketmaster, Hotels.com, Expedia, HSN, and Match.com. Dallas-based Paymentech, which processed 7 billion electronic transactions in 2003, will not say …

Slim CD Inc., a transaction-software company in Coral Springs, Fla., announced today its product has been certified by First Data Corp., allowing banks and independent sales organizations supported by FDC to offer merchants high-speed card transactions on personal computers through Slim CD's software. The company says its product can process …

The first U.S. parking meters equipped to process online authorizations for credit cards have gone live in Seattle. Moorestown, N.J.-based Parkeon Inc. has shipped the first 80 of its so-called pay-and-display parking terminals, which run wireless credit card transactions, for street parking in Seattle. Parkeon's contract calls for it to …