Person-to-Person Payments

Internet PIN-debit technology provider Acculynk Inc. this summer will start a pilot for a person-to-person payment system that will rely on PIN authentication and debit card network links for money movement. The Atlanta-based company has commitments for the project from between 20 and 30 financial institutions that use Acculynk for …

Dwolla Corp. announced this week that Veridian Credit Union, Waterloo, Iowa, will be the first financial institution to use a system for real-time funds transfer that Dwolla has been working on for months and testing since earlier this year. A Dwolla spokesman says more financial institutions around the country are …

The market for card-based vending machine purchases has hit some turbulence over the past year, but new competitor Spindle Inc. says the niche still has plenty of long-term opportunities. “I’m not at this point so worried about being different as adding competition,” says Bill Clark, president of Scottsdale, Ariz.-based Spindle. …

  n The private beta, as Dwolla dubs its test, will open up to consumers within “ a couple of months,” Charise Flynn, the Des Moines, Iowa-based company’s chief operating officer, tells Digital Transactions News. n About 60 people are involved in the test currently, Flynn says, though most of …

Financial institutions have much to gain from fees and cost savings if they offer person-to-person payments and get it right, according to representatives of three leading P2P networks who spoke on a panel at a banking conference on Monday. The keys to getting this relatively nascent payment form right lie …

Building on its $465 million acquisition in September of person-to-person payments service CashEdge Inc., bank processor Fiserv Inc. on Wednesday announced it will combine CashEdge’s Popmoney with Fiserv’s  ZashPay P2P payment networks under the Popmoney name. The combined network, which also will be integrated into Fiserv’s CheckFree RXP payment suite, …

The Internet, especially through online gaming and social networks, has spawned a number of new electronic currencies. Are any of these ready to make the leap into general usage, the way dollars and pounds and euros and yen are today? That was the fascinating question raised this week at a …

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  Payments startup Dwolla Corp. eliminated its transaction fee last week on all payments under $10, a bold move in itself, but it apparently has much bigger things in store. For one thing, the Des Moines, Iowa-based company is testing a system that co-founder Ben Milne says will make automated …

  n While the mobile service just launched, early results have been “overwhelmingly positive,” says Julian King, Xoom’s senior vice president of marketing and corporate development. “Out customer base is delighted, but it’s super early.” The new service relies on technology from mobile-commerce vendor Usablenet Inc., New York. n The …