Digital Transactions Authoritative, insightful and timely information for payments professionals
Chockstone Inc., a provider of customer loyalty marketing programs and stored-value solutions acquired Peppercoin Inc. for its card-processing and transaction-aggregation expertise, Chockstone’s top executive tells Digital Transactions News. The acquisition of Peppercoin, which will be merged into Chockstone, will allow the loyalty-marketing company to expand its offerings, says Jeff Lipp, …
April, 2007
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17 April
The Clearing House Prepares for Consumer Use of Payment Codes
Electronic transactions using unique numerical identifiers to mask account and routing data are rising fast, and now the company behind the technology expects it will be commercially available for consumer payments in about a year. The Clearing House Payments Co. LLC says corporate users made 80,459 transactions in 2006 using …
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17 April
Wal-Mart Goes Chainwide with POP in Bid to Cut Payment Costs
Rejected by many retailers, the point-of-purchase electronic-check code has one fan that really counts: Wal-Mart Stores Inc., the world's largest retailer. Bentonville, Ark.-based Wal-Mart expects the last 300 of its approximately 3,400 U.S. Wal-Mart locations to go live with the automated clearing house payment option next Monday. Wal-Mart's push behind …
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13 April
CheckFree’s Market Grows, But Biggest Customer Could Bolt
Never wanting for hype, the electronic bill-payment industry may actually have something solid to crow about. Bill-pay processor CheckFree Corp. released a survey this week saying that for the first time, Internet-connected households are paying more bills electronically than by paper check. Tempering the good news for the Norcross, Ga.-based …
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12 April
Visa Hikes Overall Interchange 0.6%, Effective April 14
In a terse announcement released on Thursday, Visa USA said its overall effective interchange rate for the coming year will be 1.77%, up 0.6% from the 2006 systemwide rate. Without giving further details about its new rates, Visa said it will post a rate card laying out its entire schedule …
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11 April
Fraudsters Are Starting to Score Successes Against Online Banking
Most banks report that their online-banking and bill-pay channels are experiencing no or only modest increases in fraud, according to a new survey from Boston-based research firm Aite Group LLC. But that's no reason to rest easy, says the researcher who oversaw the survey. Aite surveyed 21 of the top …
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11 April
Web Performance Could Help Elect the Next U.S. President
Could the 2008 presidential election be influenced by the candidates' Web sites?and in particular, those sites' ability to process online donations? A report released on Wednesday by Gomez Inc., a company specializing in Web-site performance measurement, would seem to suggest it might be. According to an online poll of prospective …
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10 April
Having Snagged 2Checkout, ATM Direct Aims at More Merchants
A processor that allows consumers to pay online with their PIN debit cards signed its second merchant this week and expects 18 more by the end of the year, including two more this quarter. “I feel good about the conversations we're having now with top online merchants,” says Robert Ziegler, …
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9 April
Processors Report Major Leaps for Image Exchange So Far in ’07
After months in which banks struggled to cope with the technology and rules surrounding image exchange, check processors so far in 2007 are reporting remarkable leaps in image-exchange volume. The nation's largest image-exchange network reported Monday its March volume hit 177.4 million items, up 507% over March 2006. Volume was …
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5 April
FDC’s Authentication Play Sets It up for Contactless And M-Commerce
First Data Corp. this week captured big headlines with its $29 billion plan to go private (Digital Transactions News, April 2), but another development at the company could also have a significant long-term impact on the electronic-transactions business. The big processor late last month reported it has licensed patents from …