Alternative-payments processor Moneta Inc. announced this week it will start offering so-called transactional credit to its users at the end of the first quarter. The credit feature, which the Atlanta-based company is adding to an online wallet that currently relies on automated clearing house debits from users' checking accounts, could …
December, 2009
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28 December
VeriFone Battles Heartland Publicly While the Two Talk in Private
Payment card terminal maker VeriFone Holdings Inc. on Monday issued a press release trumpeting its victory in a courtroom skirmish with merchant acquirer Heartland Payment Systems Inc. What VeriFone didn't mention, however, was that it is in settlement talks with Heartland that could end their multifront legal war. That war, …
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23 December
Six Months Later, MasterCard Softens a Controversial PCI Rule
MasterCard Inc. is changing a controversial policy, and pushing back a deadline, that it announced only six months ago regarding enforcement of the Payment Card Industry data-security standard. With the changes, which involve assessing computer systems for PCI compliance, MasterCard could be viewed as responding to valid complaints after first …
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22 December
Settlements Still Leave Many Post-Breach Legal Woes for Heartland
With two settlements announced in less than a week, merchant acquirer Heartland Payment Systems Inc. is putting some of the legal repercussions of its huge data breach behind it as 2009 draws to a close. But most of the legal troubles Heartland faces in the wake of the breach it …
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18 December
Hypercom And Ex-Boss of TNS Lay Plans to Spark Growth for HBNet
Hypercom Corp. and the McDonnell Group are forming a joint venture to deliver high speed transaction transport services worldwide. The venture, which will acquire and operate Hypercom's 5-year-old HBNet transaction-transport service, will be called Phoenix Managed Networks LLC and will be headed by John (Jack) McDonnell, founder and former chief …
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17 December
Accel/Exchange Plans a Big Acquiring Push for Online PIN Debit
The Accel/Exchange electronic funds transfer network, which on Nov. 9 became the first EFT network to roll out online PIN debit to consumers, is pleased with results so far and has plans to begin a major recruitment drive to sign up merchant acquirers for the program next year, says Michael …
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17 December
Will Consumers’ Shift Away from Credit Cards Outlast the Recession?
Consumers have cut back their usage of credit cards in the past year, often on their own volition but also because suddenly risk-averse credit card issuers have closed millions of credit card accounts or reduced credit lines in their attempts to strengthen recession-racked balance sheets. Now the emerging question is …
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15 December
VeriFone Sees Promise in Mobile Apps And Taxi Transactions
VeriFone Holdings Inc. swung to a welcome $3.69 million profit in its fourth fiscal 2009 quarter and sees evidence of recovery in its global markets, but the leading U.S. point-of-sale terminal provider isn't expecting a rebound in its North American business for a while. “It's still kind of a shaky …
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15 December
After a Difficult Year, Lawlor Exits As CEO at Online Resources
Matthew P. Lawlor, the co-founder, chairman, and chief executive of Online Resources Corp., is retiring immediately as chief executive, the company announced early Tuesday. Lawlor will remain as chairman until Feb. 15 to assist with the transition, and then scale back to serving on the board of directors of the …
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14 December
Same-Day ACH Is ‘On Track,’ Says Fed, But Response Is Mixed
A plan by the Federal Reserve to speed up certain automated clearing house transactions so they will clear on the same day they are initiated is “attracting interest” from financial institutions that use the Fed to handle their ACH traffic, says Richard Oliver, an executive vice president at the Federal …