Digital Transactions Authoritative, insightful and timely information for payments professionals
The booming business in gift and other stored-value cards, which represent an increasing share of sales for merchants of all sizes, is beginning to have an ominous side effect for online merchants: a hike in bad debt. The prepaid plastic, which carries a fixed value in cash and can benefit …
Read More »CheckFree Reports Double-Digit Growth Trend in E-Bill Delivery
The electronic delivery of bills to consumers grew 11% in the second quarter at CheckFree Corp., continuing a trend of double-digit growth in e-bill delivery for the Atlanta, Ga.-based bill-payment processor. The company distributed 41 million e-bills in the quarter, up from 36.8 million in the first quarter and 58% …
Read More »CyberSource Volume Jumps 47%, While Acquiring Expands Fast
CyberSource Corp., a publicly held Internet gateway for online merchants, reports it processed 147.2 million transactions in the second quarter, up 47% over the year-ago period and 7% over the first quarter. The Mountain View, Calif.-based company, which reported the transaction figures as part of its second-quarter earnings release last …
Read More »Volume Growth Slows but Processing Efficiencies Rise at PayPal
Transaction-volume growth slowed somewhat in the second quarter at online processor PayPal Inc., according to statistics released today by parent company eBay Inc., with the number of payments processed reaching 113.2 million, up 2.5% from the first quarter. This follows two consecutive quarters of double-digit growth, but improves on a …
Read More »Small Fry, Such as Credit Unions, Now Increasingly Hijacked by Phishers
Smaller financial institutions, including credit unions, are increasingly coming under attack by phishing fraudsters, according to the latest report from the Anti-Phishing Working Group. The report says the number of brands “hijacked” by fraudsters jumped to 107 in May, up from 79 in April and 64 in January. The group, …
Read More »PayPal And eBay Tell Sellers They’ll Have to Take Card Payments
Starting Aug. 19, sellers on eBay that accept payment through PayPal Inc.?as virtually all eBay sellers do–will have to accept all forms of funding, including credit card funding, eBay Inc. announced Friday. Currently, eBay sellers have the option of maintaining personal PayPal accounts on eBay, which allow them to refuse …
Read More »Webpay’s Click&Buy Maps Strategy for Major U.S. Expansion
An Internet-based payments network that originated in Europe is targeting the increasingly competitive U.S. micropayments market, seeking major-brand U.S. merchants and looking for licensees here for its software. Webpay Inc., a unit of Switzerland-based Webpay International, set up shop in Manhattan 11 months ago and so far has recruited 30 …
Read More »PayPal Seeks Higher Small Merchant Share with New Product
PayPal Inc.'s new payment technology for small and medium-sized merchants, introduced last week (Digital Transactions News, June 20), is aimed at boosting the online payment processor's market share with these merchants both on auction sites and through their own Web sites, PayPal executives say. The San Jose, Calif.-based company, a …
Read More »A Preliminary USPTO Decision Supports ReD in Patent Dispute
Retail Decisions PLC says the U.S. Patent and Trademark Office has issued what it calls a “preliminary decision” that supports ReD's position in a patent dispute between the company and Mountain View, Calif.-based CyberSource Corp. U.K.-based ReD includes its U.S. unit, Retail Decisions U.S.A., Hazlet, N.J. The USPTO statement, which …
Read More »Card-Data Thefts Increase Jitters Among Online Consumers
The steady drumbeat of card-data breaches is a major factor causing rising anxiety among consumers who use the Internet for shopping and other financial transactions, the Conference Board reported today. In a quarterly survey of 10,000 households sponsored by the New York-based business organization, 13% of all online consumers say …
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