Digital Transactions Authoritative, insightful and timely information for payments professionals
Merchants upset about interchange pricing may or may not ultimately prevail in their pending litigation against the bank card networks, but any outcome is likely to be years away. For now, there are practical steps retailers and service providers can take to cut acceptance costs, an executive with a major …
News
February, 2006
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7 February
SVPCO Reports Another Month of Steady Build in Image Volume
The promise of Check 21 may be unfolding more slowly than enthusiasts would like, but the country's largest image-exchange network recorded another gain in volume in January. New York-based SVPCO, part of the The Clearing House Payments Co., which is owned by many of the nation's largest banks, handled 13.9 …
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6 February
Pay By Touch Enters the Race to Offer Payments to Web Merchants
Pay By Touch Solutions, which has spent the past several years building out a point-of-sale network for its biometric-payment service, is now joining the rush to bring electronic payment alternatives to the Internet. Its new Pay By Touch Online product, which it is announcing today, is set to go live …
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3 February
Retailers’ Interchange Suits May Help AmEx More Than Merchants
Merchant litigation against bank card interchange may end up benefiting bank card network competitors like American Express Co. more than retailers, a Wall Street analyst who has followed the interchange controversy cautioned this week. If successful in forcing Visa USA and MasterCard International and their members to cut interchange rates, …
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2 February
Interchange Cases To Yield Consolidated Complaint in 60 Days
A consolidated complaint arising from some 47 interchange lawsuits filed by merchants and merchant groups against the bank card associations over the past seven months will likely emerge within 60 days, with certification of a class coming by fall, a lawyer representing some of the merchants said today. The various …
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1 February
Top Exec at the New Chase Paymentech Sees Smooth Transition
With the melding of Chase Merchant Services and Paymentech L.P. going smoothly as the new Chase Paymentech Solutions LLC, boss Michael P. Duffy foresees his giant merchant-acquiring firm doing more than $600 billion in charge volume this year. In an interview for a story to appear in Digital Transactions' March …
January, 2006
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31 January
Seeking More Issuers, Debitman Finds Two Among the Supermarkets
Debitman Card Inc., which has been seeking issuers for its PIN debit processing network, announced two this week. Binghamton Giant Markets Inc. and HAC Inc., both regional supermarket chains, have agreed to issue cards on Debitman's network. HAC, which runs 67 stores in Oklahoma and Kansas, has begun issuing Debitman …
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31 January
Citi Will Issue Contactless Tokens for N.Y. Mass Transit Test This Spring
Citigroup Inc.'s Citibank, which last year announced it would issue contactless tokens linked to customers' credit and debit card accounts in the New York metropolitan area, is now allowing those devices to be used in a test of radio-frequency-based electronic fare payments by the Metropolitan Transit Authority's MTA New York …
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31 January
SMS-Based Promotions Fuel Grocer’s Interest in Cell-Phone Payments
Four months after introducing a marketing system that communicates with customers' mobile phones, Broadway Marketplace has had such positive sales results its top executive says the Cambridge, Mass.-based supermarket will add an electronic payment function within the next two months. The store, which last September began using a service called …
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27 January
SECURE-eBill Starts to See U.S. Merchant and Consumer Adoption
Eight months after rolling out its Internet payment service in the U.S., Ottawa-based MODASolutions says it is seeing results, both in merchant recruitment and in consumer adoption. The company, whose SECURE-eBill product allows consumers to pay e-commerce merchants in the same way they make electronic bill payments, won't disclose transaction …