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News

April, 2009

  • 14 April

    A Rival Emerges to the Fed’s Plan for Faster ACH Clearing

    A Federal Reserve Bank proposal to speed up settlement times for certain automated clearing house transactions has provoked at least one electronic-payments executive to offer an alternative proposal that he says will accelerate clearing times without the threat to banks he sees in the Fed's idea. Danne Buchanan, chief executive …

  • 10 April

    Eyeing New Markets, A Niche Payment Player Wards off Recession

    The electronic-commerce payments market remains highly competitive despite the recession, and the online niche payment systems are trying to adapt their game plans to the fluid conditions. “The economy is helping us on the consumer side and the merchant side,” says Sergio Pinon, chief executive of eLayaway LLC, an online …

  • 9 April

    Tempo Plans Some Noise for a Quiet Decoupled Debit Card Market

    The market for decoupled debit cards, which has been eerily silent for about a year, may soon be making waves again. An executive with Tempo Payments Inc., a non-bank processor with the only network-branded product on the market currently, said this week the company plans to launch a new product …

  • 9 April

    Consumers Still Unimpressed by Mobile Banking and Payments

    Several years of hype haven't yet motivated many consumers to embrace banking and payments through cell phones and other mobile devices, though there are signs that consumers are warming to the new technology, according to new survey results from KPMG LLP. The audit, tax, and consulting firm asked more than …

  • 7 April

    New Mobile App Books And Pays for Taxi Rides in 27 Metro Areas

    RideCharge Inc., a software vendor specializing in the taxicab market, is getting more mileage on its booking and payment application as the popularity of mobile phones grows. The Alexandria, Va.-based firm most recently added the largest cab company in Boston, the 200-plus vehicle fleet of Boston Metro Cab, to its …

  • 7 April

    Surprise! Mobile-Banking Adoption Depends on Phone, Not Age

    Consumers' propensity to use mobile devices to conduct banking functions depends on the sophistication of the device, not on the consumer's age, according to recent research. Indeed, mobile users equipped with iPhones or other touchscreen-enabled smart phones are far more likely to use the devices for mobile financial services than …

  • 6 April

    Internet Pioneer Case Promotes RevolutionCard to Audience of Bankers

    Entrepreneur Steve Case, whose founding of America Online Inc. helped popularize the Internet, told an audience of bankers on Monday that his new venture is set to shake up electronic payments by dramatically slashing costs for merchants and consumers. Case's remarks came on the same day that venture, St. Petersburg, …

  • 2 April

    Recession Is Boosting Some Prepaid Cards, But Profits Are Lagging

    Prepaid cards branded by one of the national payment card networks are benefting most from the recession, but prepaid profitability overall is suffering, according to a survey of prepaid card executives whose results were released in a report this week. The survey, conducted by payments-research firm Aite Group LLC at …

  • 2 April

    Fraudsters Beef up Attacks on Checks As the ‘Weakest Link’

    Check volumes may be declining, but check-related crime remains by far the most common type of payment fraud reported by corporate financial officers. What's more, while overall losses still remain small, fraud attempts increased last year and the recession could be a cause, according to the Association for Financial Professionals. …

  • 1 April

    FIS’s Metavante Acquisition To Create a Processing Powerhouse

    Fidelity National Information Services Inc. (FIS) will buy Metavante Technologies Inc. in a $2.94 billion all-stock deal announced on Wednesday. The acquisition will create a bank- and payments-processing giant with $5 billion in combined revenue and a vast array of products in everything from core banking services to credit, debit, …

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