Debit Cards

A new U.S. standard in the works now could dramatically cut the costs ATM deployers face in bringing their machines into compliance with the so-called Triple DES encryption requirement set by the bank card networks. As things stand now, banks and other deployers must distribute the Triple DES encryption key, …

Pay By Touch, the San Francisco-based supplier of a point-of-sale payment technology that replaces cards and other media with fingerprint scans, says it is close to several major deals which, if consummated, will give the fledgling company and its system considerable momentum. Among the deals in the pipeline, says Pay …

Visa USA reported today that its cards produced 16.1 billion transactions last year, an increase of 11.7% over its transaction volume in 2002. Although credit cards accounted for $650 billion in volume in 2003, or 59% of Visa's total dollar volume, signature-secured debit cards made up 59% of the bank …

First Data Corp. says it does not expect an investigation by the U.S. Department of Justice of its money-transfer business to have an effect on the completion of its acquisition of Concord EFS Inc. The Denver-based processor said earlier this week it expects to close the merger with Concord Feb. …

First Data Corp. officals vowed today they expect to fight hard to add to the debit business of Concord EFS Inc., the debit processor First Data is buying for $6.9 billion. In a meeting with securities analysts to present 2003 full-year and fourth-quarter results, First Data chairman and chief executive …

A brief reference to a rival debit card network in a recent document sent from Visa USA Inc. to its members has raised the hackles of the co-founder of that network and embroiled him in a debate with Visa USA chief executive Carl Pascarella over the risk associated with debit …

Just weeks after Wal-Mart Stores Inc. informed MasterCard International Inc. that the chain would stop accepting MasterCard debit cards effective next month, the bank card company has released a consumer survey showing that merchants who reject debit cards risk losing sales. Sponsored by MasterCard and conducted by Harris Interactive, best …

Pay By Touch, a San Francisco-based company offering a biometrics-based technology that allows consumers to pay at the point of sale without presenting a card, keyfob, token, or any other payment medium, announced today that it has formed an alliance with IBM Corp. that should give the fledgling biometrics company …

Debit cards were hot in 2003, and research released this week shows just how hot. A study conducted by Boston-based Dove Consulting says the number of consumers using debit cards tied to personal identification numbers to make purchases in stores rose in 2003 to 57%, up from 48% in a …

First Data Corp. will not need to seek the approval of its shareholders for the revised terms announced Monday under which it will acquire Concord EFS Inc. First Data announced today it has been informed by the New York Stock Exchange that the NYSE will not require the Denver-based processor …