Digital Transactions Authoritative, insightful and timely information for payments professionals
Among five major financial products, only prepaid cards grew in consumer ownership last year, according to new findings from Javelin Strategy & Research. Pleasanton, Calif.-based Javelin assessed prepaid cards’ current market position and prospects through a random online survey last October of 3,210 U.S. adults, and compared many of the …
April, 2012
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11 April
Intuit Picks up Key In-Store Checkout Technology with AisleBuyer Deal
With rivals like PayPal Inc. and Square Inc. having made moves recently to enhance their point-of-sale payments offerings, Intuit Inc. on Tuesday confirmed it had bought AisleBuyer LLC, a 3-year-old startup whose technology lets consumers check themselves out of stores with their handsets. Terms of the deal were not disclosed, …
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11 April
Mitek Fires Back at USAA In a Spat Between Two Remote Deposit Capture Heavyweights
Leading mobile remote deposit capture vendor Mitek Systems Inc. says it has the documentation to disprove allegations of patent-infringement and other claims that USAA, the pioneering financial institution in remote deposit capture, filed against it in a lawsuit last week. The force behind the dispute, according to Mitek president and …
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10 April
Card-Using Customers at Vending Machines Apparently Aren’t Miffed at Cash Discounts
Vending machine payment-network operator USA Technologies Inc. has instituted a two-tier pricing option that gives machine owners the ability to offer discounts for cash. But the Malvern, Pa.-based company says early results show many consumers still prefer card payments even if paying by cash would save them some small change. …
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10 April
In Opening Salvo over Credit Card Fees, C-Store Group Decries Card Costs at Pump
A major merchant trade group on Monday fired an opening shot in what is likely to be a long, hard battle over credit card acceptance costs. The NACS, an association for convenience-store operators, released a report claiming that card discount fees in general—and especially credit card fees–are partly responsible for …
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5 April
PCI Council Defends Vulnerability Rule Against Oracle Security Chief’s Attack
In the wake of an unusual public outburst by a top security officer at software giant Oracle Corp., the Payment Card Industry (PCI) Security Standards Council issued a statement on Thursday to Digital Transactions News defending a little-known rule that requires vendors to disclose security holes in their software. …
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3 April
Google Seeks to Bolster Prepaid Capabilities for Its Wallet with Deal for TxVia
Google Inc. on Monday thrust itself into the prepaid processing business with its acquisition of TxVia Inc., a 5-year-old processor based in New York City. The deal, which apparently closed immediately on undisclosed terms, allows Google to take over technology and network connections that could prove useful as it struggles …
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3 April
USAA Sues Mitek Systems in Remote Deposit Capture Patent Dispute
n USAA, the financial institution that pioneered remote deposit capture, is suing Mitek Systems Inc., a leading vendor of software for the mobile version of RDC, claiming that Mitek stole its trade secrets and technology. n San Antonio, Texas-based USAA is seeking a declaratory judgment that it does not infringe …
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2 April
Global Says Fewer Than 1.5 Million Cards Exposed As Visa Drops It From Compliant List
Merchant processor Global Payments Inc. says it believes fewer than 1.5 million card numbers were taken from its processing system in a data breach disclosed on Friday. Meanwhile, Visa Inc. has removed Global from its list of merchant processors compliant with the Payment Card Industry data-security standard (PCI), but Global …
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2 April
AmEx Stops Gift Card Sales in New Jersey As Merchants Battle Zip-Code Law
A controversial New Jersey law that claims unused gift card balances as state property after two years and requires gift card sellers to obtain buyers’ ZIP codes is taking heavy fire. If it survives a repeal effort and court challenges, however, opponents fear gift card issuers will leave the state …