Digital Transactions Authoritative, insightful and timely information for payments professionals
Defenders of the debit card interchange status quo saw their last, best hope to delay draconian Federal Reserve regulations from taking effect go down to defeat Wednesday afternoon. An amendment in the U.S. Senate that would have delayed the Fed’s rules died on a 54-45 vote, six shy of the …
June, 2011
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8 June
Bling Nation’s Pause to Retool Likely to Leave It Behind Rivals
Slow acceptance among merchants and consumers appears to be the underlying cause for Bling Nation’s decision to suspend operation of its PayConnect and FanConnect mobile services. Palo Alto, Calif.-based Bling said earlier this week that it is pausing operations to retool its services in response to feedback from merchants …
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7 June
Wells, BofA Walk Away from Pariter, Their Joint ACH Processing Platform
Three years after introducing a joint venture aimed at processing automated clearing house transactions between the two banks, Wells Fargo & Co. and Bank of America Corp. have abandoned the operation, which they called Pariter. “It will shut down over the next few weeks,” a Wells spokesperson tells Digital …
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2 June
Forget PayPal And Google. Acquirers Are Most Worried About Visa, MasterCard
n n n The source of such fears is a fast-changing landscape in which all the payment card networks are looking for new revenues and markets. “Some of my clients are freaking out, without naming names,” says Adil Moussa, an analyst at Boston-based Aite. Card networks are already direct …
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2 June
VeriFone Sees a Potential Bonanza in Mobile Wallets Tied to NFC
Bullish on the prospects of electronic wallets residing on smart phones equipped with near field communication (NFC) chips, leading point-of-sale terminal maker VeriFone Systems Inc. says that topline revenues from software, services, and equipment for NFC wallets could increase in the United States between $100 to $150 million, and …
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1 June
Google’s NFC Entry Impresses Experts, But Leaves Key Questions Unanswered
Google Inc.’s entry in mobile payments and marketing, which the online search titan unveiled last Thursday, swept many observers off their feet with its comprehensive roundup of key players but also left a number of crucial questions unanswered. Experts agree, though, that the uncertainty swirling around these questions only underscores …
May, 2011
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31 May
AmEx To Beef up Marketing for Serve in Wake of Promising Pilot Results
American Express Co. will step up marketing of its Serve digital payment system early in the third quarter, following encouraging results from a pilot in Eugene, Ore., says David Messenger, executive vice president of online and mobile, American Express. “We’ve done a market test in Eugene and got some …
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27 May
PayPal Accuses Google of Poaching To Build Its Mobile-Payments Team
n The first eBay/PayPal executive to go to Google, Stephanie Tilenius, aggressively pursued Osama Bedier, PayPal’s reluctant mobile-payments man, long before her separation agreement permitted her to do so, according to the suit. And Bedier discussed potential employment with Google while simultaneously negotiating a major business deal for PayPal …
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26 May
Google Makes It Official: It’s in the NFC Race—with Payments Plus Deals
Google Inc. on Thursday officially entered what is rapidly becoming a highly competitive sweepstakes for dominance in the nascent business of mobile wallets. The Web search giant announced it is working with four partner companies and some 16 retailers to offer consumers a payments-and-rewards system based on its Nexus S …