Digital Transactions Authoritative, insightful and timely information for payments professionals
While American consumers were flocking to the stores on Friday and whipping out their credit and debit cards for payment, their Canadian counterparts were forced to find cash, their checkbooks, or to come back later because the network of the nation's largest merchant acquirer went down for two and a …
News
November, 2006
-
27 November
Sites Fare Well on Cyber Monday After Mixed Performance Friday
E-commerce sites held up well under an onslaught of shoppers on what has become known as Cyber Monday, widely considered one of the heaviest traffic days of the year for Internet retailers, says Keynote Systems Inc. Keynote, which measures Web site performance, said Monday the more than 30 sites it …
-
26 November
Report: Get Ready for a Sizzling Market for BOC Transactions
A new electronic check-conversion application set to go live in March at retail and other check-accepting businesses could become one of the fastest-growing products ever introduced for the automated clearing house (ACH) network, generating 425 million transactions in 2007, predicts a new study from Boston-based market researcher Celent LLC. The …
-
22 November
U.S. Bank Joins Growing List of Banks Testing Contactless Payment
U.S. Bancorp reported this week that it would start testing Visa Contactless credit cards by the end of the month in the Denver area. The test will involve an undisclosed number of cardholders who would be able to use the cards equipped with radio-frequency identification (RFID) chips at about 600 …
-
22 November
TIO Plans To Start Hybrid ATM-Kiosk Deployments by Start of ’07
The concept of an ATM that also serves as a kiosk for bill payment and other financial services may be getting closer to reality. TIO Networks Inc., a Burnaby, B.C.-based operator of bill-payment kiosks that serve primarily the underbanked, will begin deploying hybrid ATM-kiosk machines by the start of 2007, …
-
21 November
MagTek Launches a Company to Pursue Online Authentication
In a move aimed at addressing widespread fears about e-commerce security, MagTek Inc. has launched a company to commercialize its card-based authentication technology and leverage it for both online and point-of-sale transactions. Magensa LLC, a subsidiary of the Carson, Calif., maker of check scanners and card-terminal components, officially began operation …
-
20 November
AmEx, Metavante Undergird Cigna System for Medical Payments
Seeking to take some of the complexity out of medical payments and at the same time increase transaction volume, American Express Co. and processor Metavante Corp. have teamed up with insurance giant Cigna Corp. for a planned 2007 rollout of a system they claim will let patients know how much …
-
20 November
Gift Cards, Web Shopping Will Be Big Winners in Holiday Season
A trio of studies released on Monday indicate the 2006 holiday-shopping season should be merry and bright for gift cards and Internet transactions. Gift cards will be the second most popular item on gift-givers' lists this year, edged out only by apparel, according to survey results from both American Express …
-
16 November
Visa’s Latest Mobile Gambit Tests Info Sent Via Text Messages
Visa USA will test text messages as a way to deliver coupons and discounts to employees at its corporate campus in Foster City. The 12-week test, which does not involve payment technology, is a precursor to broader tests of text messaging that may be linked to payments. The test with …
-
16 November
Cingular-Backed M-Payments Service Could Boost Contactless Market
A mobile payments and banking service backed by Cingular Wireless and CheckFree Corp., announced this week, could pave the way to faster and more widespread adoption of contactless payments, its backers say. The service, which is being tested by an unnamed regional bank and is expected to launch in the …