News

October, 2009

• 15 October

  Report: Prepaid Issuers Must Upgrade Systems to Pass Stiff Tests

  A new report from Aite Group LLC gives some insights into how open-loop prepaid card processors work. And building on strengths and correcting weaknesses will be key as the recession, the specter of government regulation, and growth opportunities abroad challenge processors to improve, according to the report. Aite analyst Adil …
• 14 October

  A Startup Does Medical Payments on an Online Bill-Pay Model

  A new approach to facilitating electronic payments with health-care service providers is being developed by Redwood City, Calif.-based Health Team Inc. Founded earlier this year by executives with backgrounds in online banking and bill-payment services, Health Team developed the HealthRails.com network on concepts similar to online bill pay. Currently in …
• 13 October

  Launch of Mobile Services Could Reignite Growth for Remote Capture

  After a rough year that saw its momentum slow somewhat, remote deposit capture could be poised for faster growth as banks and non-bank companies move into consumer and small-business markets, according to a new report. Indeed, growth rates for remote capture, a technology that allows businesses and individuals to deposit …
• 12 October

  New Products Key to Revving up Growth in Bill-Pay Adoption

  More evidence that the online bill-payment market isn't exactly a slam-dunk for banks emerged Monday when Aite Group LLC issued a report saying that while adoption of online bill-pay is still growing, the rate of increase is slowing. Bill-pay vendors need to get serious about innovations if they want to …
• 8 October

  House Interchange Bill Brings Out the Venom on Both Sides

  Rested after their recent skirmish over 7-Eleven Inc.'s anti-interchange petitions, the interchange partisans went at it again Thursday in Congress. The battleground this time was a House Financial Services Committee hearing on the bill from U.S. Rep. Peter Welch, D-Vt., that would require more interchange disclosures and demolish most of …
• 8 October

  PayPal’s Push into E-Commerce Spurs New Funding Options

  PayPal Inc. this week introduced new funding options that allow users to load money into their PayPal accounts with PIN debit cards or with cash, then use the funds to buy products online. PayPal's deal with First Data Corp., owner of the Star electronic funds transfer network, was announced Thursday …
• 7 October

  Encryption, Tokenization Loom Large As PCI Council Mulls Changes

  Will the 2010 iteration of the Payment Card Industry data-security standard represent a major break from the current version or just have some minor changes? That's the question before the card networks, merchants, merchant acquirers, and payment processors now that one meeting with PCI stakeholders is down and another is …
• 7 October

  Eye on Opportunities in Expedited Bill Pay And Mobile Banking

  Two research reports released on Wednesday point up emerging opportunities in mobile banking and same-day bill payments, particularly for financial institutions. Banks and billers alike will have to be careful how they price so-called expedited bill payments, or those electronic payments that post with billers on the same day. These …
• 6 October

  Glitches with Online Transactions, While Fewer, Still Pose Issues

  With the recession driving more transactions to the e-commerce channel, the ability of merchants to deliver a smooth experience from log-in to checkout has been magnified. The good news for online stores is that fewer customers are running into glitches while conducting transactions online. The bad news is that merchants …
• 5 October

  Amazon Takes Payments Mobile, But Will Merchants Follow?

  Amazon.com Inc. added more territory to its steadily expanding payments empire on Monday when it unveiled a mobile version of its payments service for third-party software developers, merchants, and distributors of mobile applications. Dubbed Amazon Mobile Payments Service, the system includes Amazon's so-called “1 Click” checkout service, which enables users …