News

September, 2004

• 30 September

  A Complement to POP Could Come from NACHA

  The National Automated Clearing House Association is mulling an idea for a new point-of-sale electronic check product that it hopes might overcome some of the obstacles its existing POS service, called POP, has run into. Tentatively called “back-office conversion,” or BOC, the idea would allow merchants to send all checks …
• 30 September

  NACHA Will Start Testing a New Internet Payment Type Next Spring

  The National Automated Clearing House Association, Herndon, Va., is preparing to launch a test early next spring of a new electronic transaction type for payments on the Internet. The new payment category would be best suited for payments to so-called spontaneous retailing sites?those operated by hard goods merchants, rather than …
• 28 September

  PINless Debit Could Crimp the ACH’s Style on the Internet

  Although Internet transactions have become a highly popular form of payment on the automated clearing house network, the emergence of direct debit online may stunt the growth of Web ACH transactions, an executive with a major Internet payment processor said today. Internet payments, which the National Automated Clearing House Association …
• 27 September

  Fed Says ARC, Check 21 Will Eat More and More into Check Volume

  The volume of paper checks processed by the Federal Reserve is falling at a rate of 10% to 11% so far this year and is expected to plunge another 13% to 15% in 2005, according to James M. Lyon, first vice president at the Federal Reserve Bank of Minneapolis. This …
• 24 September

  Moneris Signs Up Peppercoin for Pint-Sized POS and Web Payments

  Moneris Solutions, a major acquiring processor in North America, has become the first processor to agree to adopt Peppercoin Inc.'s latest micropayments system. Under an agreement reached this week, Peppercoin will serve as a gateway for transactions performed at both brick-and-mortar and online U.S. merchant locations and sites served by …
• 24 September

  Authorize.net Says It Has DDOS Attack Under Control

  Authorize.net, which has been the victim of a series of denial-of-service attacks since Sept. 15, says today it has implemented unspecified “industry-leading solutions” that are thwarting the assaults on its data centers, which process card transactions for more than 100,000 merchants. It also says its engineers from the start of …
• 23 September

  How Livewire Plans to Use ATMs to Expand Its Network 10-Fold

  Livewire International Inc., a York, Pa.-based software company with about 100 kiosks and other devices on its network selling items like ski-lift tickets, has teamed up with at least one ATM manufacturer and plans to make agreements with several more to sell tickets through ATMs in supermarkets and convenience stores. …
• 22 September

  ReD, I4 Commerce Sign up Finish Line, Petco for Online Payments

  Retail Decisions Inc. and I4Commerce Inc. have both signed on new Internet merchants for e-commerce transaction processing. Indianapolis-based Finish Line Inc., which operates 560 stores selling athletic wear in 46 states, has signed on for ReD's ebitGuard online fraud detection service to screen for fraud on its Web site. Kent …
• 21 September

  EFunds Bails out of ATM Deployment, Continuing an Industry Trend

  The parade of major ATM deployers out of the business of owning and managing ATM networks continues with the announcement that eFunds Corp., Scottsdale, Ariz., is selling its fleet of 17,200 machines, which are under merchant contracts in the U.S. and Canada, to Portland, Ore.-based TRM Corp. for $150 million …
• 21 September

  Tranax Aims at a Year-End Debut for Its ‘Self-Service Terminal’

  Responding to increasing demand from the independent sales organizations that distribute its ATMs, Fremont, Calif.-based Tranax Technologies Inc. is planning to introduce a low-end multifunction machine toward the end of the year that will combine conventional cash dispensing with typical kiosk functions like ticket and gift-card sales and check cashing …