Digital Transactions Authoritative, insightful and timely information for payments professionals
As the payments industry waits for the commercial rollout of near-field communication technology, startups are jumping into mobile payments to fill the void. One of the latest attempts to bridge the gap between physical stores and mobile devices is FaceCash, which launched last month and allows consumers to pay merchants …
Read More »A Dedicated Code for Mobile ACH Is Still on the Table
While NACHA’s members officially signed off this week on using the existing WEB transaction code for mobile payments that use the automated clearing house network, the working group that recommended using WEB is already at work on further developments for mobile—including the issue of whether these payments should have their …
Read More »Leveraging Twitter, Twitpay Narrows Focus to Donations, Gaming
It started out as a way to pay other people through the wildly popular Twitter social network, but now a recapitalized and re-energized Twitpay Inc. is concentrating on much narrower niches where it sees greater potential. In March, using a homegrown, in-house platform, it started processing charitable donations, and in …
Read More »Google’s Android Closes in on the iPhone in Mobile Banking
The Apple iPhone, long a staple among consumers who pay bills and transfer funds via mobile devices, is now being challenged for mobile-banking leadership by a surging Android operating system, according to new research. Handsets that use Google Inc.’s open-source Android OS now account for 12% of the smart-phone market, …
Read More »Bullish on the iPad, Square Says It Will Be a POS Game Changer
With application developers rushing to bring apps to market for Apple Inc.’s immensely popular iPad tablet computer, payment service provider Square Inc. is predicting the iPad will become a game changer in wireless payments, and says that it will aggressively pursue developing iPad applications that enrich the transaction experience. The …
Read More »New Developer Deals Could Spur Mobile Growth for PayPal
Having seen a significant uplift in mobile-payments volume so far this year, PayPal Inc. along with developer partners have in the past few days unveiled new products and services that could accelerate the processor's growth in this nascent market. PayPal said it is providing payment processing for new mobile-storefront software …
Read More »Online Bill-Pay Usage Evolves to Take on Mainstream Contours
With online bill payment evolving into a mainstream service from financial institutions, the demographic profile of its users also is beginning to look more mainstream, according to new survey results from bank processor Fiserv Inc. But the findings indicate that the bill-pay market’s rapid evolution means banks and credit unions …
Read More »MasterCard Seeks to Harness Innovation Through Open APIs
In what one of its top executives characterizes as a “philosophical shift,” MasterCard Inc. on Tuesday unveiled a plan by which it will make its payments platforms available to developers through open application programming interfaces, or open APIs. The company will also create a portal for developers where they can …
Read More »Software House Behind Mobile Capture Gets into the Black
After rolling out its flagship mobile remote deposit software product in mid-2009, Mitek Systems Inc. is harvesting a bit of a profit. The company last week reported net income of $7,000 for its fiscal 2010 second quarter ended March 31. That’s close to break even, but much better than the …
Read More »A Bill to Regulate Online Gambling Gets an Airing in Washington
The battle over online gambling continued earlier this week during a hearing held by the U.S. House Ways and Means Committee on legislation to tax licensed Internet gambling in the U.S. The bill—known as the Internet Gambling Regulation and Tax Enforcement Act—was reintroduced in March by Rep. Jim McDermott, D-Wash. …
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