After months of steady gains, the merchant-services portion of PayPal Inc.'s transaction volume topped the volume coming from eBay Inc auctions for the first time in the third quarter, eBay reported on Wednesday. In line with this result, the online auctioneer also reported PayPal has been adopted by 35 of …
October, 2008
-
14 October
Better ATM: Amazon Gift Cards Now, Network-Branded Cards Later
A 3-year-old technology firm called Better ATM Services Inc. that configures ATMs to dispense prepaid cards is moving beyond its Phoenix-area proving grounds with local restaurants and into a test involving Amazon.com gift cards. If it works, distribution of network-branded prepaid cards could be next. During the upcoming holiday-season pilot …
-
14 October
Citi’s Mobile P-to-P Service Could See Commercial Launch in ’09
A person-to-person payment pilot based on mobile phones, launched on Tuesday by Citigroup Inc. and Obopay Inc., will become a commercial service in the U.S. next year if goals concerning user counts and transaction volumes are met, says a Citi executive. The pilot, which follows a trial the two companies …
-
9 October
After a Long Delay, NACHA Eyes Mid ’09 As Soonest Start for DCT
While formal bank recruitment hasn't started yet, an 18-month pilot to test the idea of transmitting check data as automated clearing house files is likely to get under way no sooner than the middle of next year, says a senior executive at NACHA, which is sponsoring the project. “[That] would …
-
9 October
Time Is Short, But Revolution Money Sticks to Million-Merchant Goal
Revolution Money Inc., the upstart that bills itself as merchants' low-cost alternative to the established card brands, this week announced that Murphy Oil USA Inc. is now accepting its RevolutionCard. It's a notable win for Revolution Money as Murphy has nearly 1,000 gas stations in 20 states, most located in …
-
8 October
More Big Merchants Comply, But PCI Likely Still Foreign to Small Fry
New data from Visa Inc. show more of the largest merchants now meet the Payment Card Industry data-security standard, or PCI. But the level of validated PCI compliance among small merchants?the overwhelming majority of businesses that accept credit and debit cards?likely remains much lower. Visa's latest figures show 81% of …
-
8 October
Plenty of Upside for eBay in Bill Me Later Deal, Experts Say
Ebay Inc.'s $945 million acquisition of online payment processor Bill Me Later Inc., announced this week (Digital Transactions News, Oct. 6), places a powerful payment-generating tool in the online auctioneer's hands and simultaneously denies that tool to competitors like Google Inc. and Amazon.com Inc., experts tell Digital Transactions News. And …
-
7 October
BART Pilot Results Prove Case for Multiaccount NFC, First Data Says
Results from a pilot in San Francisco involving multiple accounts on cell phones equipped with specialized contactless-payment capability show that consumers will readily adopt such technology as a form of wallet and as a way of accessing marketing content, says an executive with the processor involved in the pilot. In …
-
6 October
Bill Me Later Extends eBay’s Payments Reach to Top Web Retailers
In praising online credit payment system Bill Me Later Inc. Monday morning, PayPal Inc. President Scott Thompson called Bill Me Later a “disruptive business” in the positive sense, and he credited PayPal for also being a disruptive payments player. And disruption of the status quo is quite possible with today's …
-
3 October
Visa Could Score a Debit Win As Wachovia Jilts Citi for Wells
Just a week ago, it looked like MasterCard Inc. was about to win a battle in its ongoing debit card war with market leader Visa Inc. MasterCard stalwart Citigroup Inc. had struck a deal to buy, with help from the government, most of struggling Wachovia Corp.'s banking assets, including Wachovia's …