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If one PIN-debit system for Internet payments is good, three are even better in the eyes of the Shazam electronic funds transfer network. The network on Wednesday announced it has become the first network client of a new online PIN-debit platform from e-commerce systems provider CardinalCommerce Corp. Shazam now has …
Read More »CardinalCommerce Announces an Entry in Online PIN Debit
CardinalCommerce Corp., a major player in the business of enabling alternative payments for merchants and processors, entered the nascent business of online PIN debit on Tuesday with a product it says requires little to no integration work by merchants, gateways, processors, or networks. The Mentor, Ohio-based company says it has …
Read More »Secure Vault Payments Launches As a Commercial Service
NACHA’s long-awaited Secure Vault Payments (SVP) program, which lets consumers make guaranteed payments online through the automated clearing house network, officially became a commercially available product on Thursday after a pilot that began in the spring of 2008. The new product can now be offered by any bank linked to …
Read More »PayNearMe Debuts Cash Payments for Online Buys
PayNearMe Inc. on Wednesday announced the launch of a payment system that lets unbanked consumers pay for goods online or over the phone with cash. The system, which relies on real-time links to point-of-sale terminals in 6,000 U.S. 7-Eleven stores to collect and record cash transactions, has attracted eight announced …
Read More »In a First, eBay Permits Gateways Besides PayPal
When eBay Inc. late last month announced it will no longer allow so-called third-party checkout services after June 30, 2011, the San Jose, Calif.-based online auctioneer’s policy shift attracted plenty of attention. Less noted was a decision, announced at the same time, to allow payment gateways other than PayPal to …
Read More »Visa Hopes RightCliq Adds the Right Value for Online Payments
Visa Inc. sees its new RightCliq shopping service as a means by which it can control more e-commerce transaction volume. But it might also represent a tactic by which it can add value to payments at a time when payment processing is increasingly perceived by merchants and consumers as a …
Read More »Acculynk Scores Again, This Time with Its MasterCard Pact
Just two weeks after announcing its biggest EFT network partnership with the Discover Financial Service-owned Pulse network, online PIN-debit technology provider Acculynk Inc. landed an even bigger fish. Under a deal announced Wednesday, MasterCard Inc.’s approximately 8,500 U.S. Debit MasterCard issuers will have the option of offering Acculynk’s PaySecure service …
Read More »PayPal Sees Transaction Growth Level off in the Latest Quarter
The nation’s sluggish recovery from a long and deep recession kept second-quarter transaction volume static for e-commerce processor PayPal Inc., according to statistics released this week by PayPal’s parent company, online auctioneer eBay Inc. While PayPal added nearly 3 million active accounts in the period to reach 87.2 million, the …
Read More »A Social Media Paradox: Sites Are Popular, But Users Aren’t Happy
While social media sites are wildly popular with consumers, it turns out those same users give the sites low scores for satisfaction, ranking the category above only airlines and cable and satellite TV providers, according to a report released on Tuesday. Still, that dissatisfaction is unlikely to affect payments processors …
Read More »A Social Media, P2P, And Micropayments Mashup Emerges from First Data
It’s social payments, person-to-person payments, and micropayments all in one. And it’s sweet too. That’s the essence of a new electronic-gift service dubbed “eGift Social” that payment processor First Data Corp. launched recently with ice cream purveyor Cold Stone Creamery as its first client. Cold Stone, a unit of Scottsdale, …
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