Transaction Processing

The sudden proliferation of Web sites hosting phishing attacks that began in October cooled only slightly in November, as online fraudsters continue to create multiple sub-domains to foil anti-phishing filters. The number of unique phishing sites came to 37,439, essentially flat with the 37,444 reported for October, according to the …

In a development that represents one of the largest projects so far to replace cash for payment at on-street parking meters, the city of Detroit on Tuesday started accepting credit and debit cards at 175 new multispace meters. The city expects the meters, each of which controls up to 10 …

The concept of point-of-sale electronic payments without a standalone card reader took another step forward this week when leading processor First Data Corp. introduced a new personal computer-based service called First Data POS Value Exchange. Aimed mostly at single-location merchants with up to five checkout lanes, the service uses hardware …

Visa USA has signed up an undisclosed number of member financial institutions to use a new m-commerce technology platform the card network announced this week that ties together a wide range of functions, including contactless payment, over-the-air personalization (OTA), couponing, mobile banking, Internet payment, and person-to-person (P2P) funds transfers. A …

Statistics released on Monday indicate the trafficking of electronic check images among banks took big strides in 2006. With December numbers in, The Clearing House Payments Co. LLC, New York, which operates the nation's largest image-exchange network, reported its volume last year totaled 747 million images, representing $2 trillion in …

Interac, Canada's national electronic-funds transfer network, announced recently it processed more point-of-sale debit card transactions on Dec. 22 and 23 than in any two-day period in its 22-year history. The network handled 31.2 million transactions over the period, 1 million more than the previous two-day record, set in 2005. Unlike …

Checks cleared by paying banks as electronic images outnumbered substitute checks for the first time in the short history of image exchange in October, according to numbers compiled by the Electronic Check Clearing House Organization, Dallas. The ECCHO statistics, gathered from three primary settlement networks, also show healthy growth in …

Intuit Inc. has notched yet another acquisition calculated to augment its widely used accounting software with electronic-payments capability by agreeing to pay $142 million in cash to buy Electronic Clearing House Inc. (ECHO), a publicly held, Camarillo, Calif.-based processor of card and automated clearing house transactions. The deal, which is …

A new tactic used by Internet fraudsters is causing a dramatic upsurge in the number of Web sites hosting phishing attacks. The number of fake sites phishing fraudsters use to con Internet users into giving up PINs, passwords, and other confidential information soared to 37,444 in October, up nearly nine-fold …

Big banks get most of the attention when the topic turns to check imaging at ATMs. Now credit unions are about to get into the act. Ontario, Calif.-based Co-Op Financial Services, formerly known as the Co-Op Network, plans to make check imaging available to its nearly 2,000 credit-union members in …