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News

June, 2009

  • 9 June

    Merchant Groups Ask for Broad Changes in Letter to PCI’s Overseer

    They're mad as hell, but whether they're going to take it any more isn't quite as clear. That's the essence of a letter seven merchant trade groups sent Tuesday to the PCI Security Standards Council and the five general-purpose payment card networks. The merchants want more input when the Payment …

  • 8 June

    Dead in ’08, Back in ’09: Congress Reintroduces an Interchange Bill

    The Credit Card Fair Fee Act, a bill that would inject government into the interchange-setting process, has been resurrected after dying in committee last year. But this time there are more players around the table seemingly less inclined to sympathize with the defenders of the current bank card interchange system. …

  • 4 June

    Eye on Security: ‘Unique’ ATM Malware; Theft of Sony Card Data

    Malicious software has been discovered on some Eastern European ATMs that has dangerous new powers to extract money as well as card data, according to a security executive. Meanwhile, Sony Corp. of America has confirmed that someone illicitly copied more than 5,000 credit card numbers of its customers who visited …

  • 4 June

    Amid Recession, PIN Debit Growth Far Outpaces Signature

    While the recession is making an impact on consumer spending generally, PIN debit card usage is faring considerably better than that of signature debit. Indeed, PIN debit transactions by consumers grew 15% between July and December, the period during which the economic downturn began making itself felt, nearly four times …

  • 3 June

    Latest Pilot Will Put Online PIN Debit to the Test for Credit Unions

    The effort to extend PIN debit to Web-based commerce embraced credit unions this week with the announcement by the Credit Union 24 electronic funds transfer network that it will pilot technology from Acculynk Inc., an Atlanta-based software company. The network, which links more than 100,000 ATMs and almost 500,000 point-of-sale …

  • 2 June

    Pressure for Mobile Banking Spurs Faster Deployment Technology

    In an indication of how fast mobile banking is developing as a mainstream product for financial institutions, Fiserv Inc. this week released a version of its Mobile Money software that could let banks deploy a mobile-banking service in three months or less. The new version, called Mobile Money FastTrack, is …

  • 2 June

    Older Operating System Lingers, Holds Back ATM Services, Study Says

    Banks aiming to improve customer service should accelerate their move away from old ATMs and the IBM operating system that ran them for years, according to conclusions in a new Aite Group LLC study of banks' ATM channels. While the transition from IBM Corp.'s old OS/2 operating system to Microsoft …

  • 2 June

    Merchant And ISO Austerity Leads to Tough Quarter at VeriFone

    Merchants and independent sales organizations just aren't in a buying mood, and that's hurting the top line of the largest U.S.-based point-of-sale terminal maker, VeriFone Holdings Inc. San Jose, Calif.-based VeriFone late Tuesday reported that revenues for its fiscal 2009 second quarter ended April 30 fell 13.5% to $201.6 million …

May, 2009

  • 29 May

    New Research Shows Optimism About Mobile Banking And Payments

    Spurred by the increasing popularity of smart phones and a strong push by financial institutions, the number of Americans actively using mobile-banking services could grow to 53.1 million by 2013, an increase of 431% from an estimated 10 million today. That's the prediction from research firm TowerGroup Inc., which this …

  • 28 May

    Stats Show Bill Payments Remain the Star of E-Checks on the ACH

    Internet bill payments were the lone stars of electronic checks in the first quarter, a quarter that saw volumes on all other e-check applications either decline or barely rise from fourth-quarter 2008 levels. Most e-check codes also declined on a year-over-year basis, according to the latest automated clearing house volume …

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