Digital Transactions Authoritative, insightful and timely information for payments professionals
In a move that could change the way consumers shop and pay on the Web, a startup called Payvment is marketing a free shopping cart that lets online shoppers accumulate merchandise from a variety of Web sites?including Facebook?and then pay for all of it with a single checkout. “We call …
November, 2009
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6 November
How Banks Are Looking to Become Serious Players in P2P Payments
Electronic person-to-person payments have been around this entire decade, but they're still largely the domain of specialists such as PayPal Inc. and a host of tech companies. But leading bank processors are getting into the P2P act, and if they're successful they could spur greater usage from the consumer mainstream …
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4 November
Despite a Fast Start in Mobile Banking, BofA’s Job Isn’t Done
Bank of America Corp. gave some insights into its fast-growing mobile-banking service, but the bank also acknowledged that it must convince skeptical customers that the service is valuable and secure. Charlotte, N.C.-based BofA started a controlled rollout of mobile banking in early 2007 and launched the service nationwide in the …
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3 November
Eye on Earnings: Heartland vs. VeriFone; MasterCard Is Cautious
Heartland Payment Systems Inc. is accusing VeriFone Holdings Inc. of “tampering” with Heartland customers after the San Jose, Calif.-based terminal company said it will terminate its support relationships with Heartland customers, effective Dec. 31. VeriFone says it will offer complete alternative support at no cost to affected merchants. Heartland merchants …
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3 November
PayPal Unveils Platform X, And with It an Array of APIs And New Pricing
Hoping to inspire a burst of innovation beyond what it could expect to deliver within its own research-and-development budget, PayPal Inc. on Tuesday officially turned its global payment engine over to software developers with an array of new application programming interfaces (APIs). With the unveiling of the APIs, which took …
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2 November
Cynergy Data Starts Life Anew After a Trip to Bankruptcy Court
Cynergy Data LLC, the big independent sales organization that filed for bankruptcy Sept. 1, got a second lease on life last week when the sale of its assets to The ComVest Group, a private-equity firm with holdings in other payment processors, closed. ComVest paid $81 million for Long Island City, …
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2 November
Accel/Exchange Goes Live With Online PIN Debit
PIN-debit is now live on the Web with Monday's announcement that Accel/Exchange is the first electronic funds transfer network to roll out such a service. The network, a unit of Brookfield, Wis.-based Fiserv Inc., is making the PaySecure system from technology provider Acculynk Inc. available to its membership base this …
October, 2009
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30 October
Seeking to Boost Transactions, Star Debuts Prepaid Reloads
Just three weeks after its parent company struck a novel deal with PayPal Inc., The Star Network pushed the boundaries of PIN-debit a bit further by unveiling a prepaid card reload service for ATMs and point-of-sale locations. Star, a unit of Atlanta-based processor First Data Corp., claims its load and …
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29 October
Let 1,000 Flowers Bloom: Inside’s Strategy for NFC Workarounds
Impatience in the electronic-payments business with the snarled progress of near-field communication for mobile payments is prompting a number of technology providers to develop products that can facilitate transactions without relying on full-fledged NFC. Now Inside Contactless, a major supplier of chips for contactless cards, has entered this arena with …
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28 October
Analysts: Processors Must Seek Growth in Non-Credit Card Markets
With credit card growth sputtering, an expanding debit card market will help lift transaction processors' volumes for the foreseeable future, according to new research from Goldman Sachs & Co. The investment bank also predicts processors will find robust growth markets in nascent channels like mobile payments and established debit-related markets …