Transaction Processing

Already under investigation by the U.S. Department of Justice for its competitive response to the Durbin Amendment debit card regulations in 2010’s Dodd-Frank Act, Visa Inc. is now getting scrutiny from the Federal Trade Commission about a gateway service that routes transactions to PIN-debit networks. Visa disclosed on Friday in …

With deadlines fast approaching for U.S. merchants, acquirers, and other payments players to adopt the Europay-MasterCard-Visa (EMV) chip card standard, vendors are stepping forward with ideas to simplify readiness. One of the latest of these is a concept that asks why chip transactions can’t be managed by remote servers—why, in …

While some transit agencies are in the process of implementing or mulling fare systems that will accept general-purpose contactless chip cards, the Massachusetts Bay Transportation Authority and vendor Masabi US Ltd. on Monday rolled out a smart-phone ticketing app for Boston commuter-rail passengers that requires no big capital investment in …

While much of the payments industry’s attention is on mobile payments, mobile technology is also starting to transform the traditional retail checkout. This week, a tablet-based point-of-sale startup called ShopKeep POS launched software to keep track of employee hours and to let restaurants modify orders on the fly. Also this …

A senior Federal Reserve official said greater speed, efficiency, and responsiveness to consumer preferences are the central bank’s top payments priorities as it plans for the next decade. But apart from promoting open communication and collaboration among industry players, Sandra Pianalto, president and chief executive of the Federal Reserve Bank …

The market for person-to-person payments, which has percolated on low heat for several years, is showing signs of turning up the temperature. As an example of how far the market has come, the two major P2P payments networks, Fiserv Inc.’s Popmoney and clearXchange, a system unveiled last year by Bank …

Global Payments Inc. still expects it could spend about $120 million as a result of the data breach it reported in early March, but new information from the company gives a glimpse of just where that money is going. The big merchant processor, however, didn’t give any new details in …

Most owners of legitimate sites that have been compromised to support phishing attacks have no idea their site has been violated until some third party tells them, according to a recent survey. But the cluelessness doesn’t end there. Nearly half of owners of compromised sites don’t know how the attack …

The automated clearing house network’s transaction count grew by 4% in the second quarter compared to the same period in 2011, according to the latest figures from NACHA, the regulatory body for the network. Transactions totaled 4.15 billion, worth approximately $9.1 trillion in value, according to the NACHA statistics. Transactions …

The electronic-payments industry’s zig-zag movement toward faster transaction times may have received a jolt of new life on Monday with Fiserv Inc.’s announcement of its SpotPay mobile-acceptance service. The service, which at first glance appears to be the latest in a long line of products that let small businesses run …