Transaction Processing

While 2007-08 holiday-season spending overall fell short of expectations, e-commerce sales soared, according to final numbers compiled by Dallas-based processor Chase Paymentech Solutions LLC. Ten online merchants for which Chase Paymentech processes transactions saw their total traffic jump 29% for the season, to 108.4 million transactions. Dollar volume grew at …

Fledgling mobile-payments processor Mocapay Inc., which has been handling transactions for about 200 merchants in the Boulder, Colo, and Cincinnati areas, plans to launch a national rollout of its service this spring, the company's chief marketing officer tells Digital Transactions News. The 2-year-old company plans to complete work on its …

After a year in which networks that traffic electronic check images racked up big volume gains, the concept of sharing?rather than exchanging?images took center stage this week with the news that Fiserv Inc. will make its proprietary image archive part of the massive storehouse of images maintained by Viewpointe Archive …

As the electronic exchange of check images grows, so too does membership in the Electronic Check Clearing House Organization, or ECCHO, a Dallas-based nonprofit banking-industry group that develops rules for image exchange and electronic check presentment. ECCHO president and chief executive David Walker tells Digital Transactions News that membership more …

A day-after-Christmas processing glitch at First Data Corp.'s ValueLink unit, a processor of prepaid card transactions, delayed gift card authorizations at some stores belonging to Wal-Mart Stores Inc. and other, unnamed merchants. While statements released by both Wal-Mart and First Data indicate the problem was fixed Wednesday, the snafu couldn't …

The bankruptcy petition Solidus Networks Inc., which does business as Pay By Touch, filed this month shows that a number of the biometric technology provider's largest unsecured creditors also have equity interests in the company, and, in the case of three individuals, weren't paid when Pay By Touch bought their …

While holiday-season shopping activity overall for 2007 may have seen only a lukewarm increase compared to last year, purchases online surged ahead, reaching their peak a week before Christmas. On Dec. 18, online sales for 10 of the 30 largest e-commerce merchants hit $169 million on more than 3 million …

Intuit Inc.'s agreement to buy Electronic Check Clearing House Inc. (ECHO) for $131 million in cash, announced on Wednesday, came about largely because of ECHO's move to shed its gambling-related electronic-wallet business earlier this year, an Intuit executive tells Digital Transactions News. It was that business, in which ECHO processed …

TJX Cos. Inc. late on Tuesday said it has settled with three banking associations and three individual banks that sued the off-price retailer in the wake of a data breach that potentially compromised nearly 100 million credit and debit card numbers. That leaves just one Alabama community bank still in …

In its seventh action against a payment processor since 2004, the Federal Trade Commission along with seven state attorneys general announced this week they are suing a Lake Mary, Fla.-based check and automated clearing house processor that extracted millions of dollars from consumers by processing fraudulent payments for a suspect …