Digital Transactions Authoritative, insightful and timely information for payments professionals
JPMorgan Chase & Co., the largest issuer of contactless credit cards in the country with 7 million in circulation, is now adding contactless payment technology to its debit cards. The banking giant, which brands its contactless cards “blink,” has plans to re-issue 1.8 million debit cards with the Visa mark …
News
June, 2006
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21 June
Tech-Savvy Scheme Loots Millions from Montreal Debit Accounts
Canadian police arrested 10 people Tuesday they say used rigged card terminals to intercept PINs as cardholders entered them at the point of sale as part of a scheme in which they stole $4 million (Canadian) from 18,000 customer bank accounts. More arrests are expected, according to the authorities. In …
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21 June
With New Web Service, Xoom Targets the Giants of Money Transfer
Armed with $15 million in new venture capital, San Francisco-based Xoom Corp. is embarking on the next phase of its growth plan: selling Internet-based money-transfer services to banks, retailers and smaller money-transfer operators (MTOs) that can put their own brands on them and sell them to consumers. Founded in 2002, …
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20 June
Observers Split over How Much Google Will Compete with PayPal
With online search giant Google Inc. reportedly a week away from launching its long-expected payment service, observers differ on the question of whether the service will allow merchants to accept electronic payments on their own sites or be limited to Google's own platforms, especially the rapidly growing Google Base online …
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19 June
An Online Boom: Phishing Numbers Hit New Highs in May
The number of unique phishing attacks and the population of Web sites involved in the online fraud both hit all-time highs in May, following a disturbing trend of dramatic month-to-month increases since late 2005, according to the Anti-Phishing Working Group. Reports of unique attacks?discrete e-mail blasts sent to consumers by …
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16 June
Networks Begin to Make a Case for Cards at Vending Machines
Transaction Network Services Inc., which is routing wireless card transactions for Pepsi Co. at 500 vending machines, plans to boost that count to 10,000 machines across the country in 2007. TNS executives tell Digital Transactions in a story for the upcoming July-August issue that higher transactions tickets are helping to …
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15 June
Retailers Say, ‘Show Us the Fines’ on PCI, E-Commerce Exec Says
Merchants' sluggishness in achieving compliance with the Payment Card Industry data-security standard (PCI) is a source of some frustration to vendors like LaGarde Inc., but Michael Levin, executive vice president of marketing and business development for the Olathe, Kan.-based marketer of shopping-cart software for e-commerce, doesn't see the pace picking …
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14 June
Verizon Looks to POS System to Cope with Rising Walk-in Payments
Hoping to process a growing volume of bill payments customers make in its 76 stores, Verizon Communications Inc. is installing a new point-of-sale system that when complete will speed up check transactions, offer customers real-time payment posting, and allow the telecommunications giant to archive transaction information from multiple payment forms, …
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14 June
BidPay Re-launches with New Pricing, Chargeback Policy
BidPay.com Inc., an online auction-payment processor that was shut down in December by owner First Data Corp., went live again this week with new pricing, international sales support, and a strategy to appeal to sellers by offering protection against certain chargebacks. The re-launch follows the March 2006 acquisition of BidPay …
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13 June
E-Retailers’ Order-Review Logjams Create a New Software Market
Online retailers have long deployed front-end screening systems to check card-not-present transactions for fraud. A new software product announced Tuesday, however, is apparently the first commercially available product to automate what is now a heavily manual process of checking orders that don't pass these screens and yet are not unambiguously …