Digital Transactions Authoritative, insightful and timely information for payments professionals
A proposed method by which retailers could take checks they accept at the point of sale and convert them in a back office into electronic transactions on the automated clearing house could hinder an encouraging trend among consumers away from writing checks and toward electronic transaction channels, such as credit …
News
April, 2005
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28 April
Web-Connection Specialist Shift4 Moves Record Volume in March
Transaction gateway Shift4 Corp. reports it processed $1.1 billion on more than 13 million transactions in March, marking the first time the company has exceeded the $1 billion level in a month. Las Vegas-based Shift4, which specializes in connecting hospitality merchants and entertainment venues to back-end processors via high-speed Internet …
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28 April
Star Pilots Recurring PIN-less Payments, Explores Real-Time Web Debit
Star Networks Inc., which processes more PIN-less debit transactions than any other network, is launching a pilot to test PIN-less debit for recurring payments and is exploring a concept that could extend direct debit of checking accounts to online shopping. The latter concept, says Tom Gandre, senior vice president of …
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27 April
With a Deadline Looming, CyberSource Rolls out a PCI Compliance Service
With online merchants facing a June 30 deadline to prove they comply with a unified card-industry standard for data security, CyberSource Corp. said today it is rolling out a new service that will help Web-based retailers meet the security requirements. The Mountain View, Calif.-based transaction gateway for Internet merchants says …
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26 April
‘Webisodes’ from ‘Blair Witch’ Creator Take BitPass into Film Sales
Micopayments processor BitPass Inc., Menlo Park, Calif., is moving into uncharted territory for digital content by enabling payments for episodes of a new film being produced by a studio controlled by Daniel Myrick, best known as creator and co-producer of “The Blair Witch Project.” The so-called webisodes of “The Strand,” …
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25 April
VeriSign Will Start Offering 3-Year SSL Certificates Next Month
In a bid to make purchasing its Secure Sockets Layer (SSL) certificates more efficient for networks, VeriSign Inc. today said it will begin offering three-year certificates next month. The Mountain View, Calif.-based company said the new, longer-term certificates will save customers as much as 24% from the cost of currently …
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22 April
The 41st Parameter Fights Online Fraud with Not-So-Obvious Data
The need among online merchants and banks to harden their Web sites against phishing, pharming, and other attacks only rises by the month, and that's helping to drive business for startup companies like The 41st Parameter Inc., Scottsdale, Ariz. The company, formed last year, takes its name from its belief …
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21 April
A Trade Group for ATM Servicers Asks for Diebold Injunction
The Financial & Security Products Association, Albuquerque, N.M., has filed a motion for a preliminary injunction against Diebold Inc. as part of an antitrust suit the 307-member trade group filed in October against the North Canton, Ohio-based ATM manufacturer. The motion asks Judge William H. Alsup of the U.S. District …
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20 April
NACHA at Work on Blueprint for Back-Office E-Checks for Merchants
NACHA, the Herndon, Va.-based organization that establishes rules for automated clearing house transactions, is working on a business case for a new payment type that would allow merchants to collect all consumer checks they receive and convert them into electronic funds transfers in a back room or other central location. …
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20 April
Union Bank, National City Latest to Link to SVPCO’s Image Exchange
SVPCO, which began operating a national image-exchange network late last summer, today brought two more banks live on its system, bringing to nine the number of institutions and processors linking to the network. National City Bank, Cleveland, and San Francisco-based Union Bank of California are now trading check images through …