Digital Transactions Authoritative, insightful and timely information for payments professionals
One year after its creation, a database of merchants and processors that generate suspect automated clearing house transactions doesn’t have a whole lot of data yet. Backers of the Terminated Originator Database (TOD), however, expect the database to grow rapidly this year and next as word of the project spreads …
Read More »AmEx Reports a Strong Quarter on Higher Usage Domestically And Abroad
Higher cardholder spending and historically low credit losses helped American Express Co. post record first-quarter revenues and earnings. The company reported on Wednesday that U.S. card-billed business increased 12% to $139.6 billion in the first quarter from $124.1 billion in 2011’s first quarter. Volume outside the U.S. also increased 12% …
Read More »Survey Shows Prepaid Cards Filling a Growing Financial-Services Void
Among five major financial products, only prepaid cards grew in consumer ownership last year, according to new findings from Javelin Strategy & Research. Pleasanton, Calif.-based Javelin assessed prepaid cards’ current market position and prospects through a random online survey last October of 3,210 U.S. adults, and compared many of the …
Read More »Isis Announces Its First Issuers As It Readies for Two-City Pilot This Summer
In a move that could indicate a thaw in the long cold war between banks and wireless carriers in the mobile-payments business, the carrier-controlled Isis venture on Monday announced a trio of major banks are the first to sign on as issuers on its platform. Indeed, with the Isis wallet …
Read More »Visa Unveils Chip Services As Its U.S. EMV Card Base Crosses the 1 Million Threshold
Visa Inc. reported on Monday that its U.S. financial-institution clients have issued more than 1 million chip cards compliant with the EMV standard. The leading payment card network also introduced new EMV processing services so that issuers can reduce their own investments in chip technology. Just over 10 issuers now …
Read More »Datacard, DeviceFidelity Prepare for Mass Issuance of Micro SD Cards for NFC
In a move that could herald a time when card issuers will be able to mass produce specialized cards equipped with near-field communication (NFC) technology, Datacard Group on Monday announced it has taken an equity stake in DeviceFidelity Inc., a Richardson, Texas-based startup that makes micro Secure Digital (SD) cards …
Read More »Eye on Prepaid: NetSpend Nets 7-Eleven for Distribution; Green Dot Buys a Processor
Prepaid card program manager NetSpend Holdings Inc. beefed up its retail distribution channels through a new agreement announced on Wednesday with leading convenience-store chain 7-Eleven Inc. The news came just a day after NetSpend rival Green Dot Corp. revealed that it bought assets from eCommLink Inc. that will advance its …
Read More »Eye on Prepaid: Intuit’s GoPayment Card, Green Dot’s Bank
The prepaid card industry is marching to new frontiers as November heads toward a close. Intuit Inc. on Tuesday is expected to launch a prepaid Visa card for new merchants in its GoPayment smart-phone-based service, and the Federal Reserve Board approved prepaid card program manager Green Dot Corp.’s plan to …
Read More »Chase Issues First Airline EMV Card, Following Two Chip Cards Launched Earlier
n As with Chase’s previous two EMV deployments, the new Visa card will allow cardholders to sign for transactions rather than enter a PIN, which is a far more common form of authentication for EMV in markets like Europe and Canada where the smart card technology has been rolled …
Read More »More Retailers Offer Virtual Gift Cards, But Could Do a Better Job with Them, Report Finds
With the holiday season weeks away, more major retailers are now offering so-called virtual gift cards. But few make the experience of buying, sending, and redeeming the digital payment products easy or pleasant, according to a report issued this week. Some 59 of the 100 largest online merchants, ranked …
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