Digital Transactions Authoritative, insightful and timely information for payments professionals
With the Isis mobile-payments venture having announced yet another delay, it remains unclear just what is causing the holdup and when the service will launch. And, say observers, time may be growing short for the venture, which is backed by three of the country’s largest wireless carriers. “I don’t know …
September, 2012
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13 September
Startup Marqeta Issues Prepaid Cards That Come Partially Loaded by Merchants
A 2-year-old startup that allows consumers to use prepaid cards augmented with funds from participating merchants is expected to launch its product commercially next week following a nearly nine-month pilot in the Bay area. Emeryville, Calif.-based Marqeta Inc., which has already signed up about 250 merchants, is banking on the …
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13 September
Eye on Security: PCI Guidelines for Mobile Apps; MasterCard’s EMV Rules for ATMs
Continuing its slow march toward comprehensive security requirements for mobile payments, the PCI Security Standards Council on Thursday released a set of best practices for developers of software for mobile devices. The guidelines follow by four months the guidance about mobile payments that the Council released for small merchants. The …
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12 September
Lack of Mobile Optimization Could Cost Small Online Merchants
With smart-phone usage on the rise, small online merchants are at risk of losing market share because most of them haven’t created e-commerce sites that work smoothly on mobile devices. At the same time, independent sales organizations could lose business if they don’t find ways to help small clients deal …
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11 September
Fiserv Makes a Push for Real-Time Transactions with Its SpotPay Mobile Service
The electronic-payments industry’s zig-zag movement toward faster transaction times may have received a jolt of new life on Monday with Fiserv Inc.’s announcement of its SpotPay mobile-acceptance service. The service, which at first glance appears to be the latest in a long line of products that let small businesses run …
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11 September
The NRF Bares Its Sword Against the Credit Card Interchange Settlement
The National Retail Federation announced on Tuesday that it is ready go to court to challenge the controversial proposed settlement to a massive group of merchant lawsuits against the bank card networks and some leading banks over card interchange. The NRF’s entry into the fray is the latest indication of …
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10 September
Once in the NFC Vanguard, a Struggling ViVOtech Heads for Liquidation
Financially struggling contactless card technology provider ViVOtech Inc. insisted just over a month ago when it sold its hardware business that it was staying in operation and focusing on software. But now the company appears to be headed toward liquidation. A document sent to creditors and others with a financial …
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7 September
ACH Bill-Pay Council Floats Plan To Bring QR Codes to Bills
A group that promotes electronic bill payment through the automated clearing house network is proposing guidelines for use of Quick Response (QR) bar codes on bills that backers hope will encourage more consumers to pay bills online. The Council for Electronic Billing and Payment is taking comments on its proposal …
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6 September
Durbin Effects Manageable So Far for Small Banks—But Worse Is Expected
Now that the Durbin Amendment’s debit card interchange caps have been in effect for nearly a year, enough time has passed for community banks and credit unions to start to determine the impact, if any, the price ceilings have had on their income. Based on conversations Digital Transactions News has …
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6 September
How Visa’s New Network Fee Can Bring New Credit Risk for Acquirers
Visa Inc.’s complicated new Fixed Acquirer Network Fee, or FANF, has caused considerable head scratching if not outright consternation for merchant acquirers, independent sales organizations, and merchants since it took effect in April. But, in addition to figuring out FANF’s mysteries, the acquiring industry needs to account for a new …