Digital Transactions Authoritative, insightful and timely information for payments professionals
The volume of unique phishing attacks hit an all-time high in January, while fraudsters broadened their reach to spoof Web sites they hadn't targeted before, such as social-networking and gambling sites, according to a group that tracks phishing fraud. The number of unique phishing e-mails hit 29,930, up 26% over …
March, 2007
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20 March
A Telecom Processor Rolls out Gateway with Online Phone Billing
A San Antonio, Texas company that specializes in clearing and settling consumer charges for telecommunications companies has signed up seven sellers of digital content for a new online payments gateway that lets users charge downloads to their phone bills. The seven undisclosed merchants are the first clients for what BSG …
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19 March
Unfazed by Wal-Mart Pullout, Home Depot Presses on with ILC Plans
Home-improvement giant Home Depot Inc. is pressing on with its plan to get an industrial-loan corporation charter despite a hostile political environment that has only grown stronger over the weekend. Opponents to ILC applications by commercial enterprises notched a victory Friday with Wal-Mart Stores Inc.’s decision to abandon its efforts …
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19 March
An Investor Letter Sparks a Tussle Between the Terminal Kingpins
A letter from a major Hypercom Corp. investor to the point-of-sale terminal maker's chief executive advising a stock buyback and referring to a possible sale of the company, made public Friday in a Securities & Exchange Commission filing, has prompted rival VeriFone Holdings Inc. to target Hypercom customers with an …
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16 March
NACHA Greets Debut of BOC with Cautious Expectations
Today, the much-heralded back-office conversion electronic-check code goes live on the automated clearing house network. But rather than throw a huge birthday party, executives of the ACH's governing body, NACHA?The Electronic Payments Association, and banks are marking BOC's debut in a decidedly low-key manner. BOC will allow retailers and other …
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15 March
Study Finds ‘Pervasive And Increasing’ Fraud in Payments
A survey released this week by a major trade association for corporate treasury officials raises an alarm about fraud in check and electronic payments and points to vulnerabilities in newer transaction channels, such as the Internet. “Payments fraud last year was pervasive and increasing,” says a report from the Association …
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14 March
Image Exchange Kicked into a Higher Gear in January, Stats Show
Image exchange and image clearing kicked into a higher gear in January, with more than half a billion items flowing through image-exchange networks for the first time. Just over two years since the Check Clearing Act for the 21st Century (Check 21) became effective, the volume of checks converted to …
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14 March
Payments Upstart GratisCard Aims to ‘Eliminate’ Interchange
A well-financed startup company staffed by experienced card and marketing executives plans to launch in April an all-in-one, PIN-protected credit-debit-prepaid card with an acceptance cost that may resonate favorably these days with interchange-weary merchants: 0.50% of the sale. “One of our core tenets is to eliminate interchange altogether,” said Jason …
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13 March
Tight Deadline for New Effort to Standardize Mobile Payments
Two organizations that serve major U.S. banks are studying diverse mobile-payments projects around the world and hope to issue within the next 60 days recommendations for financial institutions to follow in this country. The effort, spearheaded by representatives of The Clearing House Payments Co. LLC and the Financial Services Technology …
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12 March
Visa, MasterCard Entry in Reloads May Aid Unbanked, Hike Income
The bank card networks are staking out major positions in the business of reloading prepaid debit cards, in a move that leverages their existing networks and could give a boost to efforts to bring electronic financial services to the underserved consumer market. At the same time, their entry into reloads …