Digital Transactions Authoritative, insightful and timely information for payments professionals
Confirming long-standing industry speculation, Columbus, Ga.-based bank-holding company Synovus Financial Corp. on Tuesday said it would consider spinning off its processing subsidiary, Total System Services Inc. (TSYS), to Synovus shareholders. Assuming a spin-off eventually happens, TSYS will have played a key role in 2007's major processing-industry restructuring that will take …
July, 2007
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23 July
Volume Climbs for PayPal, While Some Sellers Will See Fees Rise
Volume for Internet payment processor PayPal Inc. climbed 21% in the second quarter, to 172.9 million transactions, and the San Jose, Calif.-based company continues to make steady inroads with e-commerce merchants away from eBay Inc.'s online auctions, according to statistics filed last week by eBay, PayPal's parent company. Off-eBay volume …
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23 July
Branded Prepaid Growth Is Lapping That of Private Label, Report Says
The two major sides of today's prepaid card industry, branded or general purpose on one side and private label on the other, both still have enormous growth potential, but the branded side has the stronger prospects, according to a new report from Boston-based financial research firm Aite Group LLC. Aite …
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19 July
A House Antitrust Panel Becomes the Latest Interchange Battlefield
The Capitol Hill spotlight shone again on payment card acceptance costs Thursday when a U.S. House of Representatives antitrust panel held a hearing to investigate interchange. At issue is the question whether the federal government should play any role regarding this most controversial aspect of card pricing. Bank interests are …
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18 July
As Fishy Orders Rise, Startup Plans Product to Manage Online Fraud
A startup company managed by former executives from online travel agency Orbitz LLC plans to release in the fourth quarter a software product that will let online merchants manage the gamut of transaction fraud issues, from front-end screening to automated order review to chargeback processing and, eventually, back-end collections and …
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18 July
Visa Starts to Put Small Merchants Under Its PCI Microscope
More large merchants now meet the dictates of the Payment Card Industry data-security standard, or PCI, according to new numbers from Visa U.S.A. At the same time, Visa, the biggest payment-card network, is turning its security attention to small merchants, the source of the majority of data breaches. Visa and …
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17 July
Eyeing Decoupled Debit Cards, Tempo Begins Wooing Bank Issuers
With an eye to Capital One Financial Corp.'s introduction last month of a so-called decoupled debit card product, which relies on settlement through the automated clearing house network and so does not require cardholders to have a demand-deposit account with Cap One (Digital Transactions News, June 7), debit network sponsor …
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17 July
Card-Based Bill Payments Take Another Step with Billeo Product
Billeo Inc., whose software streamlines online bill payment for consumers, this week announced new product enhancements that the Santa Clara, Calif.-based company hopes will allow banks to earn more bill-payment revenue. It also extends the company's reach into online shopping with a new software component that automatically fills out online …
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16 July
Image Exchange Hits Its Stride, But Clouds Form on the Horizon
Though still growing in volume from month to month, substitute checks now account for only about one-third of total image-exchange traffic between banks, according to the latest industrywide data. By contrast, a year ago these costly paper printouts of check images amounted to 56% of all image-exchange volume. At the …
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13 July
Green Dot Begins to Look Like the Go-To Prepaid Reload Network
The booming popularity of prepaid cards has created opportunities for payments companies far beyond just issuing plastic cards. The reloading of already-issued prepaid cards, for instance, is emerging as a major business. And that means Monrovia, Calif.-based Green Dot Corp.'s 40,000-location reload network is attracting attention from such big companies …