Digital Transactions Authoritative, insightful and timely information for payments professionals
Now that the Durbin Amendment’s debit card interchange caps have been in effect for nearly a year, enough time has passed for community banks and credit unions to start to determine the impact, if any, the price ceilings have had on their income. Based on conversations Digital Transactions News has …
Read More »Acculynk Enters Acquiring Market, Gains Small-Merchant Footprint with PayLeap Deal
Online PIN debit provider Acculynk Inc. on Wednesday entered the acquiring business with its acquisition of PayLeap, a 4-year-old gateway provider and processor based in Warsaw, Ind. Terms of the deal, which has already closed, were not released. Up to now, Acculynk has worked chiefly with big acquirers to sign …
Read More »After Years of Pushing Signature Debit, Big Banks Are Promoting PIN, Study Shows
The nation’s biggest debit card issuers have reversed polarity and are now promoting PIN-debit cards over signature debit and small-value transactions over bigger tickets, if the results of a debit study released this week are any indication. “Certainly, there’s a fundamental shift under way” among large banks to focus on …
Read More »Acculynk Lands American Airlines, Cites Momentum for Online PIN Debit
Acculynk Inc., which on Wednesday announced it has signed up American Airlines Inc., says the recruitment of its largest merchant yet indicates stronger interest among online retailers in accepting PIN debit transactions. Indeed, Ashish Bahl, chairman and chief executive of the Atlanta-based company, tells Digital Transactions News it expects to …
Read More »Square Enters Big-Time Acquiring with Its Cube-Less Starbucks Deal
The announcement late on Tuesday that Square Inc. struck a deal with coffee giant Starbucks Corp. for the first time puts Square, a specialist in bringing mobile-payment acceptance to small businesses and consumers, into the role of a more traditional card processor for a large national merchant. And at least …
Read More »Durbin Decries Credit Card Interchange Settlement, Hints at Small-Ticket Debit Fix
The chief sponsor of the Durbin Amendment that regulates debit card interchange is calling the proposed settlement in a big credit card interchange court fight “a stunning giveaway” and “a capitulation to the Wall Street banks and credit card giants.” In addition, U.S. Sen. Richard Durbin, D-Ill., wants to fix …
Read More »MasterCard Reports Gains from Durbin Rules, Comments on Interchange Settlement
MasterCard Inc. reported second-quarter results on Wednesday that indicate continuing gains in its debit card business, and in PIN debit in particular, in the wake of federal debit regulations that forced issuers to add new networks to the cards they issue. MasterCard’s gains in debit come in the wake of …
Read More »Interlink Loses More Than Half Its Volume as Durbin Routing Provisions Take Effect
The Durbin debit numbers are out, and they aren’t pretty for Visa Inc., the leading debit card player in the U.S. Visa on Wednesday reported that U.S. debit payments volume plummeted 9.8% in the third quarter of fiscal 2012 ended June 30, hitting $266 billion versus $294 billion a year …
Read More »Durbin or No, First Data Figures Show Debit Continues To Flourish
Worried about getting too far in debt and nearly oblivious to the ongoing debate in the banking and payments industries about the controversial Durbin Amendment, consumers in June continued to display their allegiance to debit cards, according to new figures from First Data Corp. The nation’s leading payment card processor …
Read More »Decoupled Debit Goes Mobile As Closed-Loop Card Processor Pushes Wallets
National Payment Card Association is out to prove the obituaries for decoupled debit were, as the saying goes, exaggerated. Not only does the company have 4,000 gas stations accepting its PIN-based debit cards, it expects a major petroleum vendor will begin accepting debit transactions through its platform on a mobile …
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