News

August, 2012

• 30 August

  NACHA Proposes a WEB Credit for P2P Payments Over the ACH Network

  In an effort to bring some order to the Wild West of person-to-person payments over the automated clearing house network, ACH governing body NACHA-The Electronic Payments Association is proposing a new credit version of its WEB code for online person-to-person payments that would include standardized formatting for the transactions. Herndon, …
• 30 August

  Quiet During the Wallet Wars, Visa Readies V.me for a Year-End Rollout

  With digital wallets from the likes of PayPal Inc., Google Inc., and the Isis consortium grabbing headlines, Visa Inc.’s V.me staff has been quiet but busy. The payment service is live with five online merchants, and Visa plans to introduce it as a commercial product by year’s end, a spokesperson …
• 29 August

  Eye on Mobile: Google Wallet’s All-Inclusive Future, Apple’s New Payments Patent

  Google Inc. may have just overhauled its nearly year-old mobile wallet, but it still appears to have plenty of plans for the near future of the product. For example, the Web giant is looking at adding a person-to-person payment capability and allowing users to save credentials other than payment cards, …
• 29 August

  Apple’s Move to Stop Samsung Models Unlikely to Impact NFC Wallets

  Apple Inc.’s motion to stop sales of eight Samsung Electronics Co. handset models may not have a strong immediate impact on the major mobile wallet providers but could give Apple important advantages in the mobile-payments market later on, experts tell Digital Transactions News. Apple cited the Samsung models on Monday …
• 27 August

  With Double-Digit Growth, Prepaid Closes in on Half-Trillion Mark in Load Value

  The prepaid card market closed in on half-a-trillion dollars in load volume last year, new data from Mercator Advisory Group Inc. show. Volumes on closed-loop cards grew 14% and loads on the newer open-loop cards increased 24%, according to Mercator’s ninth annual study of U.S. prepaid cards. In all, Maynard, …
• 23 August

  Mobile-Payments Providers Add More Spaces for Smart-Phone Parking

  Mobile solutions for parking payments received a boost last week with the citywide launch of Parkmobile USA Inc.’s service in Birmingham, Mich., and the addition of new features to QuickPay Corp.’s mobile-payment service for a major parking company in San Francisco. In Birmingham, drivers can now use Parkmobile’s mobile applications …
• 22 August

  High-Tech PayPal-Discover Tieup Rests on Huge Issuance of Old-Tech Mag-Stripe Cards

  The massive deal PayPal Inc. and Discover Financial Services announced on Wednesday that will bring online-payments leader PayPal to 7 million physical U.S. merchant locations has all the hallmarks of electronic payments in the 21st Century’s second decade, including digital wallets and cloud-based technology. But the foundation of the deal …
• 22 August

  Having Started with Eateries, Revel Unveils an iPad POS System for Groceries

  The rapid insinuation of tablets into the retail point of sale took another big turn this week when Revel Systems Inc., a San Francisco-based startup, unveiled an iPad-based POS system designed for supermarkets. The new system has already been adopted by Marty’s Markets, a Pittsburgh grocery store, and another half …
• 21 August

  Having Snagged Venmo, Braintree Girds to Challenge PayPal in P2P And Wallets

  Chicago-based Braintree Payments Solutions LLC, an independent sales organization specializing in online merchants, expects its $26. 2 million acquisition of New York City-based Venmo Inc. to position it as a direct competitor to PayPal Inc. in the person-to-person payments business and in digital-wallet applications. Venmo’s digital wallet allows consumers to …
• 21 August

  After Years of Pushing Signature Debit, Big Banks Are Promoting PIN, Study Shows

  The nation’s biggest debit card issuers have reversed polarity and are now promoting PIN-debit cards over signature debit and small-value transactions over bigger tickets, if the results of a debit study released this week are any indication. “Certainly, there’s a fundamental shift under way” among large banks to focus on …