News

December, 2011

• 8 December

  Dwolla Looks to Make Its Mark with ‘Near Real-Time’ ACH Transactions

    Payments startup Dwolla Corp. eliminated its transaction fee last week on all payments under $10, a bold move in itself, but it apparently has much bigger things in store. For one thing, the Des Moines, Iowa-based company is testing a system that co-founder Ben Milne says will make automated …
• 6 December

  Less Than a Month Old, ShopSavvy’s New Wallet Boasts 10,000-Plus Users

    A mobile comparison-shopping app that launched a digital wallet late last month says it has signed up more than 10,000 wallet users and is adding new ones at the rate of 2,500 a week in a nascent business that has attracted major players like Google Inc. and Visa Inc. …
• 6 December

  A Spat over NFC Keeps Google Wallet out of Verizon’s New Smart Phone

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• 5 December

  Vending Machine Network Gives MasterCard Debit Cards the Boot

  In a marked escalation of a conflict that began when MasterCard Inc. and Visa Inc. raised small-ticket debit card interchange rates, USA Technologies Inc. has stopped accepting MasterCard debit cards in its wireless network of 100,000-plus vending machines and other unattended card-accepting locations. The Malvern, Pa.-based operator turned off MasterCard …
• 2 December

  Security Worries Arise As Mobile Payments Begin Their Ascent

  The promise of mobile devices to generate new payment transactions and better service for bank customers comes with a big potential downside. Risk-control executives strongly believe fraudsters have their eyes on smart phones and related mobile devices, according to new research from Aite Group LLC. Asked if “mobile fraud is …
• 1 December

  Aiming to Jump-Start NFC with Banks, MasterCard Pours Money into mFoundry

  In a move that could bring mobile payments based on near-field communication (NFC) to a wide array of financial institutions, MasterCard Inc. on Thursday announced it will provide its PayPass contactless-payment technology to mFoundry Inc., a Larkspur, Calif.-based vendor of mobile-banking software. MasterCard also invested an undisclosed sum in mFoundry, …

November, 2011

• 30 November

  Having Started with Big Chains, Mobile Point of Sale Begins to Filter Down to Smaller Retailers

    With the increasing popularity of smart phones and other mobile gadgets, major brick-and-mortar retail chains like Home Depot and Nordstrom began adopting mobile point-of-sale systems this year. And now smaller chains have begun equipping floor personnel with mobile devices that can scan merchandise and help customers look up out-of-stock …
• 30 November

  Acquirers Can Expect a Very Merry Christmas If Trends Hold

  If the best present for a merchant acquirer is more transactions to process, 2011’s Christmas has already arrived. Various reports from acquirers, payment processors, and research firms indicate that electronic transaction volumes are up sharply over 2010’s levels despite the gloom that still colors most economic news. Dallas-based Chase Paymentech, …
• 29 November

  Online Forecast: Credit Cards Will Surge As Debit Falls Victim to Regulation

    n Online sales for the year will reach $309 billion, up 16% from $266 billion in 2010, according to the report. That volume will grow to $346 billion next year and $444 billion 2016, the report forecasts. General-purpose credit cards will capture 40% of online spending in 2011 and …
• 28 November

  Eye on Prepaid: Intuit’s GoPayment Card, Green Dot’s Bank

  The prepaid card industry is marching to new frontiers as November heads toward a close. Intuit Inc. on Tuesday is expected to launch a prepaid Visa card for new merchants in its GoPayment smart-phone-based service, and the Federal Reserve Board approved prepaid card program manager Green Dot Corp.’s plan to …