Digital Transactions Authoritative, insightful and timely information for payments professionals
More than 2 million new households logged into online banking over the past year, bringing the online-banking share of the nation's households with Internet access to 79%. That's one of the key findings from the 2009 Consumer Billing and Payment Trends survey from bank processor and bill-pay technology provider Fiserv …
Read More »How Verient Combines Security And Customization in Cards
Verient Inc. is the startup behind SafeDebit, NYCE Payments Network LLC's effort to allow consumers to use their NYCE cards on the Internet (Digital Transactions News, July 2), but the company's ambitions go well beyond enabling debit-based e-commerce. By the end of the year, it expects to have between 3,000 …
Read More »PayPal Denies Adaptive Payments API Is a Ploy to ‘Crush’ Amazon FPS
PayPal Inc. is planning to launch a flexible-payments application programming interface that will allow merchants and others to build their own payment systems, but the company denies that the Adaptive Payments API is a response to Amazon.com Inc.'s Flexible Payments Service, which has been available as a commercial product for …
Read More »NYCE Looks to 2010 for SafeDebit Rollout, Pilot Later This Year
NYCE Payments Network LLC expects to start testing Internet-based debit transactions by the end of the year and to start a commercial service some time next year, says Steven A. Rathgaber, president and chief operating officer of the Secaucus, N.J.-based electronic funds transfer network. The service will rely on single-use …
Read More »Amid Recession, PIN Debit Growth Far Outpaces Signature
While the recession is making an impact on consumer spending generally, PIN debit card usage is faring considerably better than that of signature debit. Indeed, PIN debit transactions by consumers grew 15% between July and December, the period during which the economic downturn began making itself felt, nearly four times …
Read More »Latest Pilot Will Put Online PIN Debit to the Test for Credit Unions
The effort to extend PIN debit to Web-based commerce embraced credit unions this week with the announcement by the Credit Union 24 electronic funds transfer network that it will pilot technology from Acculynk Inc., an Atlanta-based software company. The network, which links more than 100,000 ATMs and almost 500,000 point-of-sale …
Read More »UpClick Touts Free Processing In Return for Cross-Sell Offers
The battle to win over online merchants with low transaction fees intensified on Tuesday with the introduction by a Montreal-based startup of a payment platform that offers free processing for orders up to $40. UpClick, which started operations about 18 months ago, has more than a dozen software publishers using …
Read More »A Startup Aims to Bring Teens & Tweens into E-Commerce
A new payment system called BillMyParents debuted Monday that aims to tap an estimated $40 billion in potential online spending by teens and preteens, or “tweens.” But BillMyParents' success depends not just on technology, but also on the receptiveness of parents to receive e-mails or text messages from their progeny …
Read More »A New Bill Seeks to Allow But Also Regulate Internet Bets
A bill to establish an enforcement framework for licensed online gambling operators to accept wagers from individuals in the U.S. was introduced on Wednesday in the U.S. House of Representatives by Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee. The legislation is designed to replace the controversial …
Read More »EBay Boss Says PayPal Will Exceed One-Third of Company in ’09
It's been implicit for a while, but eBay Inc. on Wednesday made it clear that it has big hopes for its PayPal payments subsidiary as the company evolves from its core Internet auction business. “PayPal's opportunity and its niche is to power all of e-commerce,” eBay president and chief executive …
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