Digital Transactions Authoritative, insightful and timely information for payments professionals
The cause of strong authentication for Web-based transactions took a major step forward today with the announcement from banking giant Bank of America Corp. that it is implementing a two-factor authentication system for its online banking service. With 13.2 million users, including 6.4 million bill payers, BofA's service is the …
News
May, 2005
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25 May
Former Viewpointe Chief Lettko Eyes Big Potential at ProxyMed
Though he's only been on the job for a few weeks as chief executive of ProxyMed Inc., a transaction-processing, business-process outsourcing, and cost-containment company, John Lettko sees clear parallels between the industry he left–financial services–and the one he's entering?health care. Lettko, the former chief executive of Viewpointe Archive Services, a …
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25 May
Electronic Transaction Inroads Force Another Fed Check Closure
Facing an unrelenting decline in paper check volume, The Federal Reserve said today it will shutter yet another check-processing operation in late 2006. Check processing will cease at the Federal Reserve Bank of New York's East Rutherford operations center and its check volume will shift to the Federal Reserve Bank …
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24 May
Certegy Sells 14,000-Merchant Portfolio to Nova Information Systems
Nova Information Systems says it is acquiring Certegy Inc.'s the merchant portfolio. Terms of the deal were not disclosed. The conversion of the Certegy portfolio, which consists of 14,000 merchants generating about $3 billion in annual credit and debit card volume, to Nova's platform is expected to be completed by …
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24 May
Chase Says Its New Blink Card Will March Through Atlanta First
Atlanta is where J.P. Morgan Chase & Co. will begin its rollout of contactless cards, starting June 1, the bank announced today. Chase, which said last week it would begin issuing the chip-equipped cards this summer in a region-by-region rollout (Digital Transactions News, May 19), says almost 1 million of …
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20 May
C-Stores Adopting RFID Have Priorities Besides Interchange Costs
Contactless payment technology picked up momentum with yesterday's news that 7-Eleven Inc. is adopting the technology chainwide and that Sheetz Inc. has completed installations at all 309 of its stores. And, contrary to some observers' argument that contactless payment will be held back by the absence of special breaks on …
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19 May
Chase’s Big Bet on Contactless May Hinge on Merchant Adoption
Technology that allows consumers to pay at the point of sale by waving or tapping a card or other token took a major step forward today with J.P. Morgan Chase & Co.’s announcement that it will issue millions of cards equipped with the technology starting this summer. Following on the …
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19 May
Microsoft Readies New Software to Handle ID, Payments on the Web
Microsoft Corp. is working on new authentication software that will identify consumers to merchant sites on the Internet and initiate payment processing. The software, which the Redmond, Wash.-based software giant is calling InfoCard for now, will be released to developers for feedback by the end of the month, according to …
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18 May
Valista Adds Payments Software to Handle Multi-Seller Content Deals
Valista Ltd. says it has developed the first software product capable of handling payments for digital content offered by multiple merchants on the platforms of wireless operators and Internet portals. The payments software, which the Ireland-based company refers to as a “revenue-assurance” solution, allows operators and ISPs to manage payments …
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17 May
Bad Web Sites Could Be Driving Card Customers to Costly Call Centers
Surprisingly sub-par performance by credit card issuers' Web sites may be channeling customers to more expensive alternatives for service, such as corporate call centers, reports a new study by Keynote Systems Inc. The San Mateo, Calif.-based company, which measures Web site performance in various industries, says in a summary of …