Digital Transactions Authoritative, insightful and timely information for payments professionals
Boulder, Colo.-based Combined Payments Inc.'s FastLane, a new network that converts driver's licenses into loyalty and payment cards, Thursday announced that it had secured its first advertiser as part of a point-of-sale program that will share revenues with participating merchants. The $2 million deal involves the La Jolla, Calif., office …
News
April, 2006
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6 April
PayPal Mobile Launches with Five Merchants, More in ‘Pipleline’
PayPal Inc. today officially joined the race for mobile-phone transactions, announcing the commercial availability of its much-anticipated PayPal Mobile service. The product, word of which leaked two weeks ago while the San Jose, Calif.-based processor was testing it with its own employees and those of parent company eBay Inc., comes …
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6 April
Looking to Mass NFC Usage, MasterCard Tries Over-the-Air Downloads
Seeking to remove a roadblock standing in the way to eventual mass consumer usage of mobile phones equipped with a form of contactless technology called near-field communication (NFC), MasterCard International this week unveiled a service that will allow cell-phone users to download their account data and other critical information to …
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5 April
SVPCO Swaps More Images in First Quarter Than in All of 2005
The country's largest image-exchange network reported today it handled more volume in the year's first quarter than it processed in all of 2005, while traffic reached new heights in March. Average daily volume at SVPCO's Image Payments Network, which links a dozen banks as well as the Federal Reserve for …
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5 April
New Merchants Will Fuel Contactless Growth, But Trouble Lurks
Shipments of contactless-payment transponders–the cards, keyfobs, and other devices consumers use to make radio-wave payments at the point of sale?will explode in 2006, reaching 45 million units, up from 13 million last year, according to ABI Research, an Oyster Bay, N.Y., research firm that follows radio-frequency-identification technology markets. Most of …
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4 April
Citigroup Will Brand 5,500 7-Eleven ATMs in Surcharge-Free Deal
In a move that quintuples the number of ATMs in its network, Citigroup Inc. today announced it will brand machines in 5,500 7-Eleven Inc. convenience stores in 31 states. The ATMs, which will bear the Citibank brand, will allow customers to withdraw cash without incurring surcharges, a feature the bank …
March, 2006
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30 March
Seven Are Nabbed in Big PIN Hack Case, with More Arrests Coming
Authorities nabbed seven individuals this week as part of the U.S. Secret Service's newly disclosed Operation Rolling Stone undercover effort against cybercrime and payment card fraud, and more arrests are expected, a Secret Service spokesperson tells Digital Transactions News. Though the Secret Service is being cautious about releasing details of …
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29 March
Mobile-Video Demand Mounting Fast, But Right Pricing Model Is Elusive
Despite low adoption so far, video delivered via mobile phones will generate $501 million in annual revenue by 2010, up from $62 million last year, according to a new study from JupiterResearch, New York. A total of 41% of cell-phone users surveyed indicated interest in receiving some form of video …
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28 March
ATM Roundup: BofA’s New Mall Machines; Triton Shipments up 21%
Simon Property Group Inc. announced today it will install some 360 ATMs in 160 shopping malls it manages in 31 states. The machines, which are owned and operated by Bank of America, will be live by June in the malls' common areas, said Simon, the nation's largest owner and manager …
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27 March
Phishing Blasts, Web Sites Soar at Double-Digit Rates in January
The phishing trend, which took an ominous turn upward in the closing days of 2005, has grown even more menacing, with both the number of phishing-related e-mails and the number of Web sites hosting phishing attacks increasing by double-digit percentages in January, according to the latest report from the Anti-Phishing …