Digital Transactions Authoritative, insightful and timely information for payments professionals
Accusing Visa Inc. of a “lack of regard” for its members, the Electronic Transactions Association merchant-acquiring trade group sent a letter to the card network March 7 asking that it delay implementation of a new fixed fee until acquirers have time to reprogram their back offices and make other adjustments. …
Read More »Pulse Pulsates with New Issuers As MoneyPass Adds POS Utility to Its ATM Network
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Read More »VeriFone Places a Bet on Lottery-Ticket Sales at Gas Pumps And in Cabs
Payment card transaction-processing technology developer VeriFone Systems Inc. is betting that consumers might want to play the lottery while they’re semi-idle gassing up their cars or moving around town in a taxicab. The leading point-of-sale terminal maker said on Wednesday that it would test sales of state lottery tickets by …
Read More »Visa to Launch New Acquirer Fee in April That Could Run up to Big Numbers
The bank card networks will introduce new fees for merchant acquirers in April, according to information obtained by Digital Transactions News. The most significant fee is Visa Inc.’s new Fixed Acquirer Network Fee (FANF), a key component of a revamped pricing strategy the No. 1 payment card network announced …
Read More »The IRS Hears Merchants’ Pleas About Card Receipts, But Will Taxable Sales Go Unreported?
Responding to pressure from retailers, the Internal Revenue Service this month announced that it would give merchants a pass on what merchants feared would be a new hassle when filling out their tax returns. The change will reduce the compliance burden on merchants, but it also could undercut the government’s …
Read More »Plenty of Tests And Contracts, But No High-Speed Route to Contactless Payments
The nation’s largest transit operators are moving toward so-called open-fare payment systems that will enable riders to pay fares with just a tap of a contactless bank card at a subway turnstile or a terminal on a bus. Replacement of old fare systems, however, is not going at nearly the …
Read More »By Harnessing NYCE And a White-Label Strategy, FIS Seeks to Set Its Wallet Apart
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Read More »Web Merchants See Fraudulent-Order Rate Fall, But the Good News Comes at a High Cost
Online merchants made some progress last year against fraud, but the fight is becoming more and more expensive for them in terms of both dollar losses and operational costs, according to a report issued on Tuesday. Indeed, the news for e-commerce sellers is mixed at best. While fraudulent orders as …
Read More »Intuit Plants GoPayment’s Flag in Canada and Upgrades Its Card Reader
Intuit Inc. plans to export its GoPayment service to Canada in the next few months, beating out rival Square Inc. as both companies prepare for international expansion of their smart-phone-based payment services aimed at the smallest of merchants. Intuit also is rolling out a new card reader for mobile devices, …
Read More »Home Depot Is a Good Start for PayPal’s POS Ambitions, But Much Work Likely Remains
PayPal Inc.’s pilot in five Home Depot stores, which the payments processor announced on Friday, represents the start of a major push by PayPal to the point of sale at major merchants. But allowing for a completely new payment method in a physical store, in this case one that has …
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