Digital Transactions Authoritative, insightful and timely information for payments professionals
Wireless provider Virgin Mobile USA LLC on Monday introduced a reloadable prepaid card that will allow its 4 million mostly young subscribers to pay for goods and services at stores and on the Web, pay bills, and send cash to one another. The card, a Visa-branded product Virgin calls the …
News
July, 2006
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28 July
Key MasterCard Deadline Nears for Wireless and IP Terminal Security
A major deadline set by MasterCard Worldwide to enhance the security of transactions originating at wireless and Internet Protocol point-of-sale payment terminals is approaching, but some in the industry say many firms that could be affected aren't paying attention. On Sept. 1, Purchase, N.Y.-based MasterCard will require that newly-installed wireless …
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27 July
Now Hot, Remote Capture Will Get Hotter with Move ‘Down Market’
Merchants and other businesses that accept checks are adopting electronic truncation?also known as remote deposit capture?so quickly that one expert observer expects the number of installed systems to more than double next year. Indeed, says Bob Meara, a senior analyst at Boston-based researcher Celent LLC, demand for remote capture is …
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27 July
Adding Princeton eCom Boosts Expedited Payment Plans at ORC
Relying in part on its recently completed acquisition of Princeton eCom Corp., Online Resources Corp., Chantilly, Va., plans to roll out a real-time expedited payments service for its banking-client base by the first quarter of next year, Matthew P. Lawlor, chief executive of the company, tells Digital Transactions News. The …
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26 July
Most Breaches Occur at Card-Present Merchants, Auditor Data Show
Brick-and-mortar merchants?and restaurants in particular?pose the biggest risk when it comes to card-data compromises, while point-of-sale systems based on personal computers as well as those hooked up to broadband connections are at significantly greater risk. That's according to new data released by AmbironTrustWave, a Chicago-based company that performs security audits …
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25 July
First Data Takes Over Banco Popular’s Mainland Merchant File
First Data Corp. announced Tuesday that it would process the merchant portfolio affiliated with Puerto Rico-based banking company Popular Inc.'s Banco Popular North America unit. The portfolio provides card-processing services for an undisclosed number of BPNA's 50,000 small-business customers in the United States. Banco Popular had outsourced the file to …
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24 July
Quarterly Processor Roundup: PayPal, Chase Paymentech, TSYS
Growth in transaction volume slowed at online payment processor PayPal Inc. in the second quarter, with total transactions for the period reaching 143.3 million, up 27% from the year-ago quarter, according to data released last week by eBay Inc., PayPal's San Jose, Calif.-based parent company. That compares with year-over-year growth …
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19 July
SMS Will Slip to Minority of M-Payments by 2011, Survey Says
Direct charges to subscribers' bills and credit and debit cards will account for the bulk of mobile payments in five years, with today's preferred method, short-message-service (SMS) payments, dropping to a minority of transactions, a survey released this week indicates. Only 6% of respondents to the survey, attendees at a …
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19 July
Big POS Merchants Now Face Stricter PCI Validation Rules
Large merchants whose card transactions are chiefly derived from physical stores, rather than the Internet, will now face stricter requirements for proving compliance with the Payment Card Industry data-security standard, according to an expert observer. With Visa USA this week introducing a revision of the volume bands by which it …
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19 July
Partisans Square off Again As the Interchange War Moves to the Senate
The simmering battle over card interchange, which up to now has been fought mostly in the courts, found a new battlefield in the U.S. Senate Wednesday as opponents and supporters of the controversial fee testified before that body's Judiciary Committee. The occasion was a hearing dubbed, “Credit Card Interchange Rates: …