Digital Transactions Authoritative, insightful and timely information for payments professionals
Visa Inc. moved on Thursday to commercialize mobile payments using cloud-based near-field communication technology with its release of Visa Cloud Payment Solutions. A related development, the announcement of the upcoming debut of a tokenization service, is aimed at locking down cloud-based NFC and other digital payments. The new services include …
July, 2014
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24 July
Visa Sees a Digital-Payments Future, but the Present Is Still Producing Tidy Profits
On the heels of a quarter that featured a nearly 10% increase in U.S. payment volume, Visa Inc. chief executive Charles W. Scharf signaled Thursday that the leading payment network is counting on new digital services to power future growth. Those services include the new Visa Checkout online payment service …
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22 July
Spurning Publicity, Amazon Launches a Mobile Wallet with Modest Features—So Far
Without fanfare, Amazon.com Inc. last week introduced a trial version of its first digital wallet. The free Android app, known as Amazon Wallet, has been available since July 17 on Amazon’s own App Store and on Google Play. It is also available pre-installed on Amazon’s recently unveiled smart phone, the …
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22 July
Durbin Routing Rules Should Apply to ATMs, ATMIA Urges in Meeting with Fed
The ATM Industry Association met today with members of the Federal Reserve staff to discuss making ATM debit transactions subject to the routing requirements of the Durbin Amendment to the 2010 Dodd-Frank Act. The association, which represents ATM independent sales organizations and other retail deployers, wants the provision because it …
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21 July
ACI To Expand Its Fraud-Protection Services Menu Through Its Acquisition of ReD
After beefing up its bill-payment services through two acquisitions in 2013, ACI Worldwide Inc. is now turning its attention to fraud prevention. The Naples, Fla.-based payments-software firm on Monday announced that it plans to buy prominent e-commerce fraud-detection and prevention services provider Retail Decisions Plc (ReD) for $205 million in …
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21 July
Ontario Teachers’ Pension Plan’s Deal for First American Underscores Profitability of Merchant Processing
An investment consortium led by the Ontario Teachers’ Pension Plan is buying First American Payment Systems L.P., a Fort Worth, Texas-based payment processor and independent sales organization, in a deal that observers say highlights the profitability of merchant processing, despite ongoing margin pressure. First American says the Toronto-based pension …
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21 July
Another Zero Option: Cloud-based POS Provider Pose Drops Its Software Fee
Pose POS Ltd., a cloud-based point-of-sale system, has changed its pricing model to a free one, at least for the monthly fee. Formerly $49 a month for the POS service, Pose now charges nothing to use its app, which is available on any device that can operate Google Inc.’s …
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18 July
Twitter, Facebook Make Payments Moves, But Do They Threaten Payments Firms?
Twitter Inc. and Facebook Inc. both made moves in the electronic-payments space this week, but analysts question whether the giant social networks are preparing frontal assaults on the payments industry. Menlo Park, Calif.-based Facebook on Thursday revealed that it is testing a “Buy” button that will let members buy products directly …
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17 July
Merchants Face A SNAP Decision on Payment Terminals
Many merchants that accept Supplemental Nutrition Assistance Program transactions face an important decision between now and Sept. 21. By then, participating merchants in the SNAP no longer are eligible for subsidized payment terminals because of a change in law mandated by Congress. Until this change, states were allowed to …
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17 July
Visa Revamps Its Online Wallet, And Gives It a New Name: Visa Checkout
Visa Inc. says its new online payment service, Visa Checkout, should help improve conversion rates for e-commerce retailers by making it easier for consumers to pay. The service, available in the United States, Canada and Australia, enables consumers to pay online on any device, Visa says. Visa Checkout replaces the …