News

October, 2007

• 30 October

  The Bell Is About To Ring for an Independent Metavante

  A representative of Metavante Corp. will ring the opening bell Friday at the New York Stock Exchange in a ceremony that will cap seven months of work since Marshall & Ilsley Corp., the bank-holding company that founded Metavante in 1964, announced in April the banking services and payment processor's planned …
• 25 October

  Upon Further Review, Accounts Exposed in TJX Breach Double

  Sources reached by Digital Transactions News aren't surprised at the news that the number of credit and debit card accounts affected in the TJX Cos. breach has doubled, as disclosed by court filings and reported this week by The Boston Globe. Although the off-price retailing chain reported in March that …
• 25 October

  It’s Official: Synovus Will Spin off Processor TSYS in $600 Million Deal

  Capping months of planning, bank-holding company Synovus Financial Corp. confirmed Thursday afternoon that it would spin off its entire 80.8% interest in payment card processor Total System Services Inc. (TSYS) to its shareholders. In doing so, Synovus brings up what is likely to be the rear of an extremely active …
• 24 October

  Phishing Takes a Break As Attacks, Hosting Sites Slip in July

  The crime of phishing entered midsummer doldrums, offering some relief to financial institutions, merchants, and other organizations engaged in e-commerce, according to the latest report from the Anti-Phishing Working Group. The number of unique e-mail attacks dropped 17%, to 23,917, in July, while the population of sites launching attacks dipped …
• 23 October

  By Arming Consumers, a Startup Hopes to Cut Down on ID Fraud

  In a sign of how the problem of identity fraud is spawning new businesses, a La Jolla, Calif.-based startup announced on Tuesday a free service allowing consumers to determine which pieces of junk mail they want to stop receiving. Once consumers use ProQuo Inc.'s Web site to indicate their preferences?which …
• 23 October

  With a Grip on Costs, TSYS Continues Its Post-BofA Recovery

  Bolstered by cost controls and its growing international business, payment processor Total System Services Inc. (TSYS) on Monday reported profits rose nearly 27% on a revenue increase of not quite 4%. TSYS also said operating margins are up more than 3 percentage points this year to 25.6%. Columbus, Ga.-based TSYS …
• 22 October

  Eye on Earnings: Google Checkout Adds More Merchants

  Google Inc. gave a progress report about its Google Checkout payment services launched in mid-2006 and processors and banks heavily involved in the payments business reported third-quarter earnings last week. ? Search-engine leader Google's Google Checkout online payment service added PetSmart, Drugstore.com, Shoebuy.com, and the NHL Store as merchants in …
• 19 October

  Third Time Could Be a Charm for BB&T in Mobile Banking

  BB&T Corp. this week introduced a new mobile-banking service in which the Southeastern regional bank leaves little to chance. The bank will offer consumers three user interfaces for two-way interaction with BB&T through their cell phones or other mobile devices. And, in contrast to most banks' tech announcements, BB&T is …
• 18 October

  Banks Begin to Use SVPCO to Handle Check Images for Client Banks

  Some of the big banks that connect to the SVPCO Image Payments Network are starting to use the system to send and clear items electronically for other banks they serve in a move that could increase volume on the image-exchange network and allow member financial institutions to earn more fee …
• 17 October

  PayPal’s Strategy Bears Fruit As off-eBay Ratio Steadily Rises

  PayPal Inc.'s efforts to lessen its dependence on transaction traffic supplied by the online auctions run by parent eBay Inc. are paying off. Some 44% of the $12.2 billion the San Jose, Calif.-based e-commerce processor handled in the third quarter came from off-eBay merchants, according to statistics filed by eBay …