Digital Transactions Authoritative, insightful and timely information for payments professionals
Evidence that the battle for supremacy among alternative-payments providers remains intense arrived on Wednesday with Google Inc.'s announcement that its Checkout service will continue to process transactions for free through January. “Considering how busy this time of year is for you,” says Checkout product marketing manager Gavin Chan in a …
December, 2007
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11 December
Cardtronics Slims Down Its IPO But Gets the Deal Done in Stormy Market
Cardtronics Inc., operator of the nation's largest non-bank ATM network, completed its initial public offering of stock on Monday and began trading Tuesday on the NASDAQ stock market, but only after cutting the size of the deal in a stormy stock market. Houston-based Cardtronics announced its planned IPO in September. …
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11 December
Bill Me Later-Amazon Deal Could Be a Huge Boost for Both Parties
At the stroke of a pen, Bill Me Later Inc. has not only become the sole third-party alternative payment vehicle accepted by the world's largest retailing Web site, but it also receives an injection of capital as that site, Amazon.com Inc., takes an undisclosed equity stake in the Timonium, Md.-based …
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10 December
PIN Debit And the ACH Among the Big Gainers in Fed Payments Study
PIN debit transactions are growing significantly faster than signature debit payments. Checks processed electronically are approaching half of all checks paid. And transactions on the automated clearing house are growing faster than any other form of payment. These are among the more surprising results of the Federal Reserve's tri-annual payments …
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6 December
Survey Shows Heavy Carrier Reliance on Transaction Fees for NFC
In a development that could long complicate the introduction of commercial services allowing consumers to make point-of-sale payments with their mobile phones, mobile network operators say they will derive POS payment revenue chiefly from consumer transaction fees. According to research released this week, some 83% of carriers responding to an …
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6 December
Back Office Conversion Growth Strong, But Big Gains May Come in ’08
Growth in the new back-office conversion, or BOC, electronic-check code far outpaced growth of all other automated clearing house transaction categories in the third quarter, but don't get too excited yet. BOC only went live March 16, so its 238% increase to 840,743 transactions came off a very small base …
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5 December
NACHA Rule Targeted at Cap One’s Decoupled Debit Card, Sources Say
A clarification of a rule regarding transaction aggregation, announced last week by NACHA, was driven chiefly by banks that intended to hamper a new PIN debit card being introduced by Capital One Financial Corp., sources tell Digital Transactions News. The new card, which came to light late this spring (Digital …
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5 December
Study Assails Corrosive Effects of Free Terminals on Acquiring Profits
The practice of giving away point-of-sale payment terminals, which started out as a tactic to attract salespeople, has become a huge phenomenon in the merchant-acquiring business that threatens the profitability of many industry firms, particularly smaller independent sales organizations more reliant on hardware revenues than larger acquirers. That's the conclusion …
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4 December
New Platform, APIs Let TIO Launch Strategy for Walk-in Payments
TIO Networks Corp. signaled a new strategy last week when the kiosk network struck a deal with IPP of America Inc. to process bill payments at IPP walk-in locations (Digital Transactions News, Nov. 29). For the first time, TIO will be handling transactions on its network without the need to …
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3 December
TJX’s Settlement with Visa Casts Light on Murky World of PCI Penalties
The settlement The TJX Cos. and Visa Inc. announced Friday not only shows the retailer is well on its way to disposing of the myriad problems arising out the intrusion into its computer system that potentially compromised nearly 100 million credit and debit cards, but it also gives a rare …