Digital Transactions Authoritative, insightful and timely information for payments professionals
Don't look for Facebook to get into the payments business any time soon. According to a report this week in “Inside Facebook,” a Web site that tracks Facebook developments for software developers and marketers, the social network has put on hold a payments platform that the network had announced a …
December, 2008
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29 December
Fraudsters Run One-Stop Shop Online to Sell Data-Stealing Code
Fraudsters are running an online trading post for highly sophisticated code that allows criminals to more easily steal consumers' log-on credentials, Social Security Numbers, PINs, and other confidential information, according to the latest report from RSA Security Inc.'s Anti-Fraud Command Center. The fraudster Web site, which RSA analysts call a …
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24 December
Software And Smart Phones Will Drive Mobile Payments, Report Says
Not every cog is in place yet, but payments from remote devices, especially so-called smart phones, are poised to grow from an estimated $389 million next year to $8.6 billion in 2014, according to a new report from Mercator Advisory Group. The report reviews the payments implications of new mobile …
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23 December
Online Holiday Sales Track with Last Year, But Average Tickets Drop
Despite a sputtering economy, online merchants overall are breaking even with last year in terms of holiday sales, and the largest e-commerce sellers are running slightly ahead, according to statistics released this week. Web-based sales from Nov. 1 through Dec. 19 totaled $24.03 billion, a 1% decline from the equivalent …
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23 December
RBS WorldPay Breach Rings Alarm Bells About Acquirer Security
The latest data-breach battleground has shifted to merchant-acquiring and prepaid card territory. Atlanta-based RBS WorldPay, a big acquirer owned by the Royal Bank of Scotland Group that also provides prepaid card programs, late Tuesday afternoon reported a breach of its computer system that may have compromised personal information on about …
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18 December
Boston Transit System Tests Mobile Payments for Commuter Parking
It started not even a week ago, but a pilot program in which Boston-area commuters can pay for parking by mobile phone appears to be a hit with riders, according to early anecdotal feedback. “The buzz has been huge with customers, we've only been deployed for four days,” Ian Larrabee, …
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18 December
Mobile-Payments Startup Paymo Aims at Tough Micropayments Market
A mobile-payments startup called Paymo Inc., which launched this week with service in 39 countries, hopes to succeed in what has turned out to be a tough market: micropayments for digital content. The San Francisco-based company has more than 300 merchants approved to accept payments on its platform, says Terry …
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18 December
No Letting up on the Merchant-Acquiring Throttle at Discover
As both a card issuer and payment card network, Discover Financial Services is feeling the sharp pinch of recession. Discover chief executive David Nelms indicated to analysts on Thursday that Discover would play a conservative game on the issuing side in 2009, but not necessarily so on the merchant side. …
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17 December
Terminal Kingpin VeriFone Doesn’t See a Turnaround Until 2010
Largely confirming what it projected in late November, point-of-sale terminal provider VeriFone Holdings Inc. says North American business from independent sales organizations and merchant processors was off in the fiscal fourth quarter ended Oct. 31, and prospects for fiscal 2009 aren't much better. San Jose, Calif.-based VeriFone eked out a …
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17 December
Schools And State Agencies Eye NACHA’s Online Payment System
Secure Vault Payments, the online payment system that NACHA has been piloting since last spring, is catching on as a bill-payment alternative among colleges and state agencies, says Kendall Myles, the executive who is heading up SVP merchant recruitment for NACHA, the regulatory body for the automated clearing house network. …