Digital Transactions Authoritative, insightful and timely information for payments professionals
Capping a process that began last fall, NACHA announced a partner on Monday to help commercialize a system it has been piloting that lets consumers receive and pay bills electronically through the automated clearing house network. The Clearing House Payments Co. LLC, a New York City-based company whose Electronic Payments …
April, 2010
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27 April
Square Founders Get Rock Star Welcome But Give Few Details
The founders of the much-hyped Square Inc. payments system may have wowed a full-house crowd of bankers on Monday, but they added little to public understanding of how their product will actually work and how it will stack up competitively with similar offerings for mobile merchants. While polite and talkative …
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22 April
Ebay Chief Touts PayPal Innovation As Processor Logs Strong Results
Online auctioneer eBay Inc. on Wednesday said its PayPal Inc. unit has generated more than $30 million in payments so far on the open platform it introduced in November. Thousands of developers have now written applications using application programming interfaces PayPal has introduced for the platform, eBay officials said, allowing …
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22 April
Mobile Capture’s Profile Rises As Smart Phone Adoption Climbs
Remote deposit capture by means of smart phones, a technology that seemed futuristic only a year ago, is rapidly taking root, but questions remain about smart-phone adoption, security, and the type of financial institution for which it makes sense. Two recent studies, one of which was released this week, document …
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22 April
Apriva Challenges USA Technologies in Cashless-Vending Market
The cashless vending machine payment market is about to get more competitive. Apriva Inc., a specialist in wireless payment technology, this week introduced its Apriva Vend system. With it, Scottsdale, Ariz.-based Apriva is throwing its hat into a ring dominated by USA Technologies Inc., which says it welcomes the new …
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21 April
Just Days After Its Debut, Square Changes Its Processing Fees
Square Inc., the new payment system from Twitter co-founder Jack Dorsey, has adjusted its merchant pricing less than three weeks after its debut. Merchants will pay more on card-present transactions under $100 and less on bigger sales compared with the original plan. Card-not-present transactions, however, will cost more until a …
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21 April
Visa Deepens E-Commerce Roots with $2 Billion CyberSource Deal
In a move calculated to expand its business in e-commerce and mobile transactions, Visa Inc. on Wednesday said it will buy CyberSource Corp., an online gateway and merchant acquirer, for $2 billion in cash. The deal, which is expected to close by Sept. 30, brings together the world's largest payment …
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19 April
Canada Will Enforce Its Payments Code with Regs, If Necessary
After five months of discussion, the Canadian government is out with the final draft of its Code of Conduct for the payments industry. The merchant-friendly code is supposedly voluntary, but proposed legislation could force it upon payments companies that don't adopt it on their own by May 17. “Payment card …
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16 April
Mercury Payment Sells Stake As M&A Reps Prowl the ETA Show
The growing interest of private-equity firms in merchant processors showed itself again Wednesday when the big independent sales organization Mercury Payment Systems Inc. disclosed that Silver Lake would take a 60% interest in the company. Meanwhile, private-equity executives were out in force at the Electronic Transactions Association annual meeting in …
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15 April
States Join the Interchange Debate While IRS Reporting Rules Loom
They've ebbed and flowed over the years, but attempts by states to regulate interchange and payment card acceptance rules are definitely flowing, according to merchant-acquiring executives. “It seems like every month we get a new bill introduced in a state legislature,” said panelist Nicholas W. Baxter, senior vice president at …