News

September, 2004

• 1 September

  Canadian Banks Will Launch PIN Debit for the Web Next Spring

  Canada's five major banks next spring will roll out a service that will allow consumers to pay for goods and services on the Internet with debit cards linked to personal identification numbers. The service, called iDebit, has been at least 18 months in the making and is expected to be …

August, 2004

• 31 August

  Challenged by 3D Secure, Orbiscom Touts Proxy Numbers

  Despite widespread industry perceptions that 3D Secure technologies are rendering proxy payment numbers obsolete, the primary vendor of such single-use-number technology says its system remains highly attractive to card issuers looking for ways to encourage customers to spend on the Internet. “I feel very bullish about our product,” says Diane …
• 30 August

  Nine EFT Networks Approve a Triple-DES Retrofit for ATMs

  Nine electronic funds transfer networks have now approved a $1,600 retrofit kit from a Cincinnati-based ATM refurbisher and servicer for use in ATMs on their systems. The kit, called 3DESPlus, allows ATM owners to upgrade existing machines to make them comply with new security requirements from the bank card companies …
• 27 August

  Websnare Helps, But Internet Fraud Fight Is Far from Over

  The arrests announced yesterday by the federal government in an operation directed against e-commerce fraud is cause for optimism, but there's still plenty to keep online merchants up at night, according to a key executive who helped carry out the latest law-enforcement action. The government's Operation Websnare led to the …
• 26 August

  FDC Hires a Telecom Veteran to Expand ISO Sales Programs

  John Barrett, a 16-year veteran of MCI Corp., has joined First Data Corp. to run the processor's merchant-sales operations through independent sales organizations and sales agents. In his position as senior vice president for FDC's third-party sales channel, Barrett will have responsibility for all merchant-sales efforts through third parties at …
• 26 August

  POS Experts Raise Questions About IFX

  Proposals to extend a transaction-messaging protocol based on extensible markup language (XML) to the retail point of sale are meeting some skepticism among current and former POS terminal executives. The protocol, known as interactive financial exchange (IFX), relies on the flexibility of XML, an Internet language, to simplify messaging across …
• 25 August

  Atmel and OTI Announce First Major Order for PayPass Gear

  On Track Innovations Ltd. and Atmel Corp. announced today they have received the first order for microprocessors in “commercial quantity” for MasterCard International's PayPass contactless payment program. OTI said it also expects orders for card readers to support rollouts of PayPass cards by issuers later this year. The two companies …
• 24 August

  ReD Looks to Add on Payment Types to Build Online Business

  PayPal isn't likely to be the last new payment channel Retail Decisions USA Inc. adds to its transaction products for online merchants. The Hazlet, New Jersey-based unit of Retail Decisions PLC in the U.K. announced earlier this month it was adding PayPal acceptance to its transaction-processing software, LiveProcessor, and its …
• 23 August

  CTS Installs New Software to Convert to Windows Processing

  Central Technology Services, the Jefferson, City, Mo.-based transaction-processing arm of Central Bancompany, says it will move its ATM-driving capability from its mainframe to a server-based system from Mosaic Software, Deerfield Beach, Fla. The software, which runs Microsoft Corp.'s Windows operating system, will handle ATM driving, transaction switching including intercept processing, …
• 19 August

  TowerGroup: Banks Have Hiked Spending to Roll out Super ATMs

  Banks are getting set to unveil revamped fleets of ATMs equipped with the latest technology and able to perform a wide range of advanced transaction functions, such as truncation of check deposits. That's according to a new report from Needham, Mass.-based consultancy TowerGroup, which says large banks in the U.S. …