Digital Transactions Authoritative, insightful and timely information for payments professionals
First Data Corp. is reviewing documents filed in federal court earlier this week by the U.S. Department of Justice seeking information on First Data merchants that sell or provide offshore services, including financial processing, a spokesperson said in a statement Thursday. The Justice Department on Wednesday asked the U.S. District …
April, 2009
-
17 April
It’s Not Perfect, But PCI Helps Secure Card Data, Study Finds
The recent massive data breaches at RBS WorldPay Inc. and Heartland Payment Systems Inc. ?two merchant acquirers deemed in compliance with the Payment Card Industry data-security standard by qualified assessors?left many in the industry questioning the effectiveness of the PCI standard. But a newly released report from Verizon Business concludes …
-
16 April
Visa’s payWave Platform Connects with the Vending Machine Market
Contactless payments took another incremental step recently when USA Technologies Inc. struck an agreement with Visa Inc. under which Visa will subsidize the deployment of up to 4,000 of USA Technologies' card-accepting devices for vending machines. The agreement, potentially worth $800,000, is significant because it is the first between Visa …
-
15 April
How a Shakeout in Processing Is Culling the Ranks of Major Players
Inexorable forces are reducing the ranks of payments processors and electronic bill-payment providers, as the planned buy-out of Metavante Corp. by Fidelity National Information Services Inc. (FIS) shows. Remaining ones such Online Resources Corp. are vulnerable to Wall Street pressure, as a proxy fight in progress shows. But some companies …
-
15 April
Test Yields Upbeat Results for Bling Nation’s On-Us Platform
Bling Nation Ltd. on Wednesday said it has completed a 10-day test of its alternative-payment platform, known as the Community Payment Service. The Palo Alto, Calif.-based company also said it plans to continue testing its system preparatory to a rollout. Bling Nation's platform creates closed-loop transaction networks linking local merchants …
-
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 …