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News

December, 2012

  • 19 December

    As EMV-Debit-Durbin Problem Festers, a Solution May Be on Its Way

    A knotty problem involving the EMV chip card standard, debit card transaction routing, and the Durbin Amendment may take a crucial step toward resolution next month when the country’s two largest card networks are expected to indicate whether they will support a potential solution proposed by a debit-network group, according …

  • 19 December

    With VeriFone Trimming Its Sail, Acquiring Industry Debates Micro-Merchant Profitability

    Leading U.S.-based point-of-sale terminal maker VeriFone Systems Inc.’s retreat from its role as merchant acquirer for its Sail mobile-payments platform for micro-merchants last week after only seven months is triggering intense debate among independent sales organizations and payments-industry veterans. The crux of the debate concerns whether processing for tiny merchants …

  • 18 December

    The Latest Numbers Herald Checks’ Electronic Future

      New data from the automated clearing house network show that ACH debit transactions for online bill payments grew 9% in the third quarter while paper checks converted into ACH transactions after being mailed to lockboxes decreased by 8%. The story behind the interrelated numbers boils down to the years-long …

  • 14 December

    VeriFone To Exit Acquiring for Mobile Merchants; Will Revert to Tech-Supplier Role

    Seven months after VeriFone Systems Inc. launched Sail, its mobile-payments platform for micro-merchants, the San Jose-based point-of-sale terminal maker and payments software provider is stepping back from its role as an acquirer for Sail merchants and will instead revert to its traditional role of solutions provider. The announcement from chief …

  • 13 December

    Appeals Court Tells Settlement Challengers To Wait Until Agreement Gets Final Approval

    A federal appellate court has turned down a retailer appeal to review part of the controversial settlement in a massive credit card interchange case, clearing the way for the trial court to move toward final approval. Meanwhile, the Herculean task of notifying millions of merchants about the settlement is getting …

  • 13 December

    By Launching a Branded Cash-Funding Product, PayPal Turns up Heat on Banks

    PayPal Inc. on Thursday took a step closer to providing bank-like account access with its introduction of a branded prepaid card that can be used to fund PayPal accounts. The PayPal My Cash Card, which is the first PayPal-branded prepaid card in the 14-year-old company’s history, allows consumers who lack …

  • 11 December

    Online Volume Grows 13% As Mobile Traffic and Bill Me Later Surge

    Retail purchases online will reach $318 billion this year, up a healthy 13% from 2011, with mobile transactions accounting for more than 6% of that volume, according to a new report from Javelin Strategy & Research. This year marks the first time mobile-originated transactions have accounted for a meaningful share …

  • 11 December

    NYCE Hopes To Drive New ATM Traffic with a Limited-Surcharge Program

    For ATM owners struggling to attract consumer traffic, half a loaf of surcharge revenue may be better than none at all. A new program called Dollar$top from processor Fidelity National Information Services Inc.’s (FIS’s) NYCE electronic funds transfer network will put the concept of a limited fee to the test …

  • 10 December

    Square Steps in to a Small But Thriving Digital Gift Card Niche

    Square Inc.’s announcement over the weekend that it is making digital gift cards available for its base of mostly small merchants heralded the San Francisco startup’s entry into what is turning into a hot market, particularly with the onset of the holiday-shopping season. Square, which in recent months revamped its …

  • 6 December

    An Expansion-Minded EVO Buys PowerPay And Looks to Europe With its Deutsche Bank Deal

    It’s been a tad busy at EVO Payments International over the past week. On Thursday, the big independent sales organization disclosed it had bought another ISO, Portland, Maine-based PowerPay. On Nov. 29, EVO announced a deal with Deutsche Bank AG, Germany’s biggest bank by assets, under which it will buy …

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