Digital Transactions Authoritative, insightful and timely information for payments professionals
Four years later, the fallout from the notorious CardSystems Solutions Inc. data breach?at the time the biggest hacking of payment card data ever?surfaced last week and looks like it could go on for months or even years. Merchant acquirer Merrick Bank Corp. is suing Savvis Inc., the company that inspected …
May, 2009
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27 May
Kansas City Fed Chief Espouses ACH for Debit Card Processing
The Federal Reserve Banks should adapt the automated clearing house network to compete directly with private-sector networks for debit card processing, the head of the Federal Reserve Bank of Kansas City said this week. “The Federal Reserve could enhance competition in payment card markets by positioning ACH services as an …
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26 May
How Walk-in Bill Pay, Prepaid Cards Could Win over Check Cashers
Contrary to some perceptions, there is no wall separating the customer bases of banks and check-cashing stores. Many consumers patronize both financial entities. And, according to a new report from Aite Group LLC, banks could win more business from consumers who heavily patronize check-cashing stores by adding walk-in bill-payment services …
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26 May
UpClick Touts Free Processing In Return for Cross-Sell Offers
The battle to win over online merchants with low transaction fees intensified on Tuesday with the introduction by a Montreal-based startup of a payment platform that offers free processing for orders up to $40. UpClick, which started operations about 18 months ago, has more than a dozen software publishers using …
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21 May
Instant Issuance Comes to Stickers, Fobs, And NFC Phones
In anticipation of rising demand for contactless form factors other than credit and debit cards, Dynamic Card Solutions LLC this week introduced a product that allows bank branches to personalize key fobs, contactless stickers, and NFC-equipped cell phones on the spot. The product, called Perso-to-Go, complements an existing system the …
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21 May
Eye on Mobile Payments: Intuit, Bango Launch Card Services
Intuit Inc. on Thursday entered the race to sign up plumbers, carpet cleaners, delivery people, and other small on-the-go merchants for card acceptance. The Mountain View, Calif.-based vendor of the popular QuickBooks accounting program rolled out a product, called GoPayment, that works on mobile phones but doesn't require other hardware, …
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20 May
An Expert Casts Doubt on Stickers for Mobile Payments at the POS
With near-field communication (NFC) technology seemingly on hold in North America, mobile-payments backers are turning to radio-frequency identification tags with adhesive backing that can be affixed to phones (Digital Transactions News, Oct. 15, 2008). These so-called stickers, offered by First Data Corp., Oberthur Technologies, and other companies, are widely seen …
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20 May
Congress Will Study Interchange And Eyes Rules for Gift Cards
The U.S. House of Representatives on Wednesday overwhelmingly passed a sweeping credit card reform bill that leaves out retailer-backed regulation of interchange. The bill, which the Senate sent to the House Tuesday, includes a Congressional interchange study and could open the door to controls on gift cards. The House earlier …
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18 May
NRF Exec: Non-Credit Card Discounts Have a ’50-50′ Chance
The U.S. Senate didn't pass a credit card reform bill last week as many expected, but senators are expected to take up the issue again Tuesday. The question for the merchant-acquiring industry is whether the final bill, which is concerned with regulating credit card issuers' most controversial practices, also would …
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18 May
A Startup Aims to Bring Teens & Tweens into E-Commerce
A new payment system called BillMyParents debuted Monday that aims to tap an estimated $40 billion in potential online spending by teens and preteens, or “tweens.” But BillMyParents' success depends not just on technology, but also on the receptiveness of parents to receive e-mails or text messages from their progeny …