News

September, 2006

• 15 September

  Iron Triangle Vaults Acquiring Ranks with Deal to Buy BA ISO Unit

  Iron Triangle Payment Systems LLC, a 3-year-old Louisville, Ky.-based processor that has been steadily pursuing plans to build an acquiring business by buying independent sales organizations, on Friday announced it is taking over the ISO business belonging to BA Merchant Services Inc. for an undisclosed sum. By adding the business, …
• 13 September

  Stuck in a Rut, POP E-Checks Get a Boost from Bentonville

  After about two years of lackluster growth, e-checks at the point of sale started popping in the second quarter, according to new statistics from NACHA?The Electronic Payments Association. Sources tell Digital Transactions News that the force behind POP's sudden popularity is none other than Wal-Mart Stores Inc., the world's largest …
• 12 September

  Study Says ATM Deployers Are Changing Tactics As Profits Fall

  How much money financial institutions are making on their ATMs depends very much on where the machines are deployed, but in any case machine margins for banks and independent sales organizations alike are under pressure, forcing deployers to change how they view the technology. That's among findings contained in a …
• 12 September

  July Phishing Numbers Bring Mixed News on the Online Fraud

  July was a month of mixed news on the online-fraud front, as the number of unique reports of phishing attacks dropped 17% from June, to 23,670, but the population of Web sites hosting attacks ballooned 41%, to a record 14,191, according to the latest numbers from the Anti-Phishing Working Group, …
• 11 September

  The New PCI Council: Does It Have Enough Teeth?

  The creation of the new PCI Security Standards Council LLC by the five leading payment card brands represents a big step forward in enhancing credit and debit card security, but it doesn't go far enough, one analyst tells Digital Transactions News. The council, a creation of American Express Co., Visa …
• 11 September

  Discover Signs up Global Payments, Is Talking to Other Top 10 Acquirers

  In a deal on which the two parties spent the weekend hammering out final details, Discover Financial Services LLC and Global Payments Inc. on Monday said Global would take over processing and other acquiring functions on Discover transactions with merchants for which Global processes Visa USA and MasterCard Worldwide transactions. …
• 8 September

  Positive Results of Atlanta NFC Pilot Could Spur More U.S. Tests

  A nine-month trial of contactless payments using near-field communication (NFC) technology in Atlanta ended this week with what its participants are calling positive results, including an apparently enthusiastic reception from the pilot's 150 users. Meanwhile, the results of the Atlanta pilot may be spurring banks, the bank card networks, handset …
• 7 September

  Valista Sees New Hosted Gateway As Key to U.S. M-Payments Market

  Looking to make inroads in the U.S. mobile-commerce market, Valista Ltd. has launched a hosted version of its payments-gateway product and has aimed it squarely at mobile operators hoping to cash in on the trend toward so-called off-deck transactions. The payments-software vendor, based in Dublin, Ireland, and in San Mateo, …
• 7 September

  New Council Updates PCI, Looks to Foster Closer Industry Cooperation

  The new organization set up by the leading payment card networks to administer the Payment Card Industry (PCI) data-security rules should lead to closer coordination on security matters among card networks, merchants, and vendors, according to one of the organization's spokesmen. Announced Thursday, the organization has already issued an update …
• 5 September

  BankServ Enters P2P, Mobile Payments Business with Magex Deal

  The U.S. person-to-person payments business, including P2P payments on cell phones, attracted yet another entrant with the announcement Tuesday by BankServ Inc. that it had acquired the managed-payments platform of Magex Holdings Ltd., a U.K. company, for an undisclosed sum. In the deal, San Francisco-based BankServ, a 10-year-old private company …