Digital Transactions Authoritative, insightful and timely information for payments professionals
When it comes to information about the uncertain future of Chase Paymentech Solutions LLC, the world's largest merchant acquirer, the analysts just weren't taking no for answer. The occasion was processor First Data Corp.'s first-quarter earnings conference call on Friday, during which the company also revealed that it had spent …
May, 2008
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15 May
Interchange Hearing Pits Small Merchant Against Small Credit Union
The opponents and defenders of bank card interchange had their say on Thursday before the U.S. House of Representatives' Judiciary Committee. What's next for the controversial Credit Card Fair Fee Act of 2008, however, is uncertain. The bipartisan bill introduced by panel chairman John Conyers Jr., D-Mich., and Rep. Christopher …
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14 May
Bullish Projections Mask Usage Problem for Contactless Payments
French chipmaker Inside Contactless this week announced it has shipped more than 50 million MicroPass chips for contactless payments since introducing the product in November 2005. And, though the company used the occasion to promote its optimism about contactless payments in North America particularly, a number of observers remain skeptical …
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14 May
Due out in October, PCI Update Will Consist of Tweaks, Council Says
The rules for protecting cardholder data will be updated in October, the PCI Security Standards Council announced on Wednesday. The PCI Council, the organization the payment card networks set up in 2006 to oversee the so-called Payment Card Industry data-security standard, or PCI DSS, is billing the coming changes more …
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13 May
Alternative Payments Make Gains Among Mid-Size Web Merchants
Major-brand credit card acceptance is a given, but the alternative payment forms are gaining traction among mid-sized e-commerce retailers, according to a recent survey by First Annapolis Consulting Inc. Some 41% of the merchants surveyed reported accepting at least one alternative payment form, and nearly half of those accept at …
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13 May
As Hearing Nears, Another Interchange Bill Is in the Works
Payment card interchange will be in Congress's spotlight again on Thursday when the House Judiciary Committee holds a hearing about the controversial Credit Card Fair Fee Act of 2008, a bill that would put price controls on card-acceptance costs. Meanwhile, Sen. Richard Durbin, D-Ill., the assistant majority leader, is working …
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13 May
NACHA’s New Boss Has Card, Merchant Acquiring Background
Janet O. Estep, who will succeed Elliott C. McEntee at the end of the year as president and chief executive of NACHA, will be the first person to head the Herndon, Va.-based payments organization who has a background in cards and merchant acquiring. Estep, whose appointment was announced on Tuesday, …
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8 May
Coming Soon to Cardtronics Vcom Kiosks: Imaged Deposits
Non-bank ATM network operator Cardtronics Inc. has been trying to pump up transaction volume on its advanced-function Vcom machines ever since it bought them last July from 7-Eleven Inc. as part of the 5,500-machine ATM fleet the convenience-store giant unloaded for $137.3 million. Next week, part of that strategy takes …
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8 May
Cap One Says Its Decoupled Debit Card Pilots Ended on Schedule
Capital One Financial Corp. ended a pair of merchant pilots involving its decoupled debit card product because the tests were scheduled to end, a spokesperson for the financial-services company tells Digital Transactions News. “They were initiated as pilot programs and they've run their course. That's it,” says the spokesperson in …
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7 May
Stats Show a Surge in Paying Banks Now Receiving Check Images
Some recent statistics indicate banks are making significant headway in their ability to receive and clear electronic check images. PaymentsNation, a major clearing house for checks and check images, reported this week that the number of routing and transit numbers (R/Ts) receiving check images reached 5,275 at the end of …