News

June, 2006

• 8 June

  ISOs And NFC Specs Lend Impetus to Contactless Payment Trend

  New technical specifications for so-called near-field communication (NFC), released this week by an international rules-setting body backing the technology, should add momentum in the U.S. to the trend toward contactless payments on mobile phones. “A lot's happening behind closed doors,” says Erik Michielsen, director of RFID and M2M research at …
• 7 June

  A Busy ATM Direct Looks to Add Another Network, More Online Retailers

  ATM Direct, which this week announced agreements with an electronic funds transfer network and an Internet merchant to process PIN-secured debit card payments on the Web, has signed another online retailer, which will go live on its system in August, Robert Ziegler, senior vice president and general manager of the …
• 7 June

  Growth Spurt Has SVPCO Eyeing 100 Million Monthly Items by Year’s End

  Another indication of the increased trafficking of electronic check images through image-exchange networks has emerged with a report from SVPCO that its Image Payments Network handled 50.8 million items in May, up 44.4% from April's volume. Average daily traffic hit 2.3 million images, a 31.2% jump from the previous month. …
• 6 June

  CyberSource Bids to Relieve Online Retailers’ PCI Headaches

  In a bid to meet what appears to be a clear market demand for services to help online merchants satisfy card-data security rules, CyberSource Corp. Tuesday launched a product that removes merchants from the business of handling and storing payment data. The move comes as merchants and processors increasingly find …
• 5 June

  ATM Direct Scores First EFT Network for Web-Based PIN Debit

  In a development that could lead to the first significant use of PIN debit for Internet transactions, the ACCEL/Exchange electronic funds transfer network has agreed to handle PIN-secured debit card transactions processed by ATM Direct, a unit of San Francisco-based Pay By Touch Inc. The network, which is based in …
• 2 June

  Swiped Laptops Now a Threat in Data Breaches Plaguing Payments

  The drumbeat of data-breach disclosures continued Friday with the news that information linked to about 65,000 individuals?including credit and debit card data–were exposed when a burglar broke into a locked office in a YMCA facility in Providence, R.I., last week and stole a laptop containing the sensitive member information. According …
• 1 June

  How Endpoint Exchange Is Riding the Rising Image-Exchange Wave

  At a time when image exchanges are reporting dramatic jumps in volume but are struggling to get members to receive as well as send check images, Endpoint Exchange in Oklahoma City is reporting double-digit monthly growth rates as well as a base of 3,000 receiving financial institutions. “The name of …

May, 2006

• 31 May

  The Fed Unveils More Check Closures As Volumes Continue to Drop

  With electronic payments continuing to eat into paper check volumes, the Federal Reserve Banks announced on Wednesday another in what has become a series of closures of check-processing facilities. Some time next year or in the first six months of 2008, the Fed will shut down check processing in San …
• 31 May

  Report: M-Gaming Will Top $3 Billion in North America by 2011

  Mobile gambling, which doesn't now exist as a market in North America, will grow to $3.34 billion in revenue by 2011, accounting for 14% of a $23.2 billion world market, according to research released this week. Driving this growth, says Juniper Research Ltd., which published the research, are the rapid …
• 30 May

  Yahoo!’s New Pact with eBay Promises More Payments for PayPal

  A multi-faceted marketing partnership between giant Internet portal Yahoo! Inc. and PayPal Inc., announced last week, seems likely to drive a significant flow of transaction volume to online auction provider eBay Inc.'s payment service. According to Nielsen//NetRatings, Sunnyvale, Calif.-based Yahoo! is the No. 2 parent company in terms of visited …