Digital Transactions Authoritative, insightful and timely information for payments professionals
Electronic-commerce spending from work and home desktop computers from Nov 1-23 hit $17.5 billion, up 11% from $15.8 billion in the same period a year earlier, Internet metrics firm comScore Inc. reported Tuesday. Most e-commerce spending is charged to credit and debit payment cards, so the early results for the …
November, 2014
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24 November
Three Years After Durbin, Debit Pricing Flaw Still Drives up Cost for Small-Ticket Sellers
Three years after the Durbin Amendment took effect, the law’s painful impact on the cost of selling soda, candy, newspapers, and other small-ticket items remains an issue. And things may stay that way unless the newly elected Congress acts after taking office at the turn of the year, observers say. …
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24 November
Gift Cards Top Holiday Wish Lists, With Total Spending Estimated at $31.74 Billion
Consumers want gift cards this holiday season, but are reluctant to ask for them, finds a survey from CashStar Inc., a Portland, Maine-based company that specializes in e-coupons and digital gift cards. Meanwhile the National Retail Federation forecasts that consumers will spend $31.74 billion on gift cards this holiday …
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21 November
Stress on Data Helps Swipely Hit $4-Billion Mark in Processing Volume
Merchant-services provider Swipely Inc. says it is now managing more than $4 billion in annual sales generated by its restaurant, hospitality, and retail clients, representing a four-fold increase over 2013, the company says. Providence, R.I.-based Swipely chief executive Angus Davis says the company’s three-pronged sales approach helps. In addition …
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21 November
OrderWithMe Debuts Service To Help Small Merchants Counter Showrooming
Consumers walking around stores with their smart phones in hand often send a potentially troublesome signal to many retailers. The shoppers could be shopping an online retailer’s site while using the brick-and-mortar merchant’s store as a showroom. It’s a phenomenon that Las Vegas-based OrderWithMe Inc. says it can help …
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21 November
MasterCard: Sub-Merchants Don’t Need To Own Accounts Until Volume Hits $1 Million
In what observers say indicates a growing acceptance of merchant aggregation by payment networks, MasterCard Inc. has increased by 10 times the charge-volume threshold at which a so-called sub-merchant must get its own merchant account. In addition, MasterCard’s recent rule changes preserve back-office settlement procedures that, had the old $100,000 …
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21 November
USA Technologies Clinches a New Interchange Deal With Visa for Debit And Credit
USA Technologies Inc. on Friday announced it had secured a three-year agreement with Visa Inc. that will allow the supplier of payments technology for vending machines to continue receiving favorable small-ticket interchange pricing from the network. In the announcement, contained in a brief regulatory filing with the Securities and Exchange …
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20 November
Intuit Adds Cloud POS to QuickBooks Online In a Tie-Up With Revel Systems
With its clients going increasingly mobile, Intuit Inc. knew it needed a point-of-sale payments solution for its cloud-based QuickBooks Online accounting product. This week, it announced it had found one, and unlike most payments products it has introduced in the past, this one wasn’t homegrown. Intuit recruited Revel Systems Inc., …
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20 November
Canadians Eschew Mobile Payments, For Now: Survey
Mobile payments in Canada only garner 2% of all consumer purchases, finds a study from research firm GfK. But that does not signal the low adoption rate will continue. Only 21% of Canadian shoppers, defined as those who have shopped in one of 15 product categories in the past …
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20 November
How Two Payments Analysts Challenged ‘Settled’ Wisdom About EMV And Online Fraud
At trade show after trade show, and in article after article, payments-industry executives have heard for years now that the U.S. migration to chip cards on the Europay-MasterCard-Visa (EMV) standard, while protecting the point of sale from counterfeit fraud, will force fraudsters to ply their craft online. Indeed, the idea …