News

November, 2003

• 11 November

  Micropayments Could Hit 10% of All POS Transactions

  Transactions amounting to $10 or less could potentially amount to at least 10% of all point-of-sale payment transactions processed annually in North America, a bonanza of transaction volume that goes a long way toward explaining why giant card companies and small startup processors alike are chasing the so-called micropayments market. …
• 10 November

  A Fingerprint Check System Rolls Out with BI-LO

  BioPay LLC has reached agreement with BI-LO, a major supermarket chain concentrated in the Southeast, to make its biometrics-based paycheck authentication service available in 176 of the chain's 300 stores. The system is expected to be operating by Thanksgiving at stores in Georgia, North Carolina, South Carolina, and Tennessee. When …
• 7 November

  Payment Veterans Set Their Sights on Training ISO Agents

  A new organization focused on training for merchant-level salespeople now has its Web site live and is looking toward its first seminar in Dallas Nov. 15, which it expects will draw 100 to 150 attendees. The Mountain Home, Ark.-based Institute for Payment Professionals, formed this fall by industry veterans Paul …
• 6 November

  Visa Posts Strong Third-Quarter Volume Gains

  Shrugging off what it called a “challenging” year that included a $2 billion legal settlement with retailers, Visa USA reported this morning strong gains in transaction volume on its credit and debit card business for the third quarter. Total volume grew almost 13% to $285.8 billion, leading president and chief …
• 6 November

  Web-Based Drivers’ License Renewal May Be Coming

  The state of Washington, home to Microsoft Corp. and Amazon.com and considered one of the most digitally advanced states in the country, has passed the 1 million mark in electronic transactions on its Web site, and plans next to allow citizens to renew their drivers' licenses online. According to an …
• 4 November

  Early Results Look Good for AmEx’s RF Payment Pilot

  American Express Co.'s experiment with contactless payment based on keyfobs in and around Phoenix, in progress since July, is expanding into more locations and apparently meeting with merchant and consumer approval. The ExpressPay program, which puts small keychain fobs in the hands of consumers instead of plastic cards, relies on …
• 3 November

  A Cryptographer Says He Holds the Key to a Digital Currency

  The dream of a digital currency, a form of money invented just for electronic transactions and just as anonymous as cash in the physical world, is at least as old as the original concept of the Mondex smart card 10 years ago. Next came Cybercash, Digicash, Beenz, Flooz, and others. …
• 3 November

  Survey: Better Content Might Ignite Online Micropayments

  A survey released today at a conference on micropayments reveals the extent to which Americans are willing to buy content from Web sites at prices measured in the pennies. Extrapolations from the survey show that 4 million Americans made micropayments for digital content costing $2 and under in the past …

October, 2003

• 30 October

  Self-Serve Transactions Could Rise with Wireless Transmission

  A system that allows card payments to be made at vending machines, laundry machines, kiosks, and unattended business centers is expected to expand rapidly now that the technology provider has partnered with two wireless service providers. Malvern, Pa.-based USA Technologies, which specializes in card-accepting technology for the hospitality industry and …
• 29 October

  Check 21: Big Cost, Big Profit Opportunity

  Creating and moving check images across banking networks now that President Bush has signed the Check Clearing for the 21st Century Act into law is likely to cost banks a great deal of money–but most are likely to find it worth their while. Popularly known as Check 21, the law …