Transaction Processing

Convinced that banks are ready to upgrade ATM capability to sell more products and services, San Jose, Calif.-based Infonox Inc. says it is piloting marketing-savvy machines with unnamed clients and plans to have at least one commercial deployment in progress within six months. “There's a dramatic shift in the banking …

Newly private iPayment Inc. this week reported a 12% increase in operating profits despite single-digit growth in charge volume. Nonetheless, the big Nashville, Tenn.-based independent sales organization posted a net loss of $5.81 million on expenses related to its May 10 management-led buyout, compared with net income of $7.73 million …

Seeking to address industry uncertainty about its guidelines on online-banking security, the Federal Financial Institutions Examination Council this week released a set of clarifications it says addresses “a representation” of questions it has received from banks, technology companies, and banking examiners. This latest document from the FFIEC, an agency that …

Against a backdrop of an increasing number of online transactions requiring manual checking by Internet merchants to control fraud, transaction-gateway provider CyberSource Corp. this week introduced a service that lets merchants pinpoint customers' locations and write business rules to control whether, in light of this information, orders should be fulfilled. …

All-electronic check image exchange got a boost this week with the addition of another large regional bank-holding company, Pittsburgh-based The PNC Financial Services Group, to SVPCO-Electronic Clearing Services' image-exchange network. Meanwhile, SVPCO reported today that it processed 3 million average daily items in July, up 17% from June's average. The …

New consolidated industry data show the number of substitute checks, or image replacement documents (IRDs), flowing through image-exchange networks surpassed 100 million for the first time in June, but the share of paper relative to all image-exchange volume is declining. According to the Electronic Check Clearing House Organization (ECCHO), the …

MasterCard Inc., reporting quarterly results for the first time since its initial public offering in May, said it lost $310.5 million in the three-month period ended June 30, compared to a gain of $120.2 million in the second quarter of 2005. One-time expenses, including a $400.3 million cost for 13.5 …

A major deadline set by MasterCard Worldwide to enhance the security of transactions originating at wireless and Internet Protocol point-of-sale payment terminals is approaching, but some in the industry say many firms that could be affected aren't paying attention. On Sept. 1, Purchase, N.Y.-based MasterCard will require that newly-installed wireless …

Brick-and-mortar merchants?and restaurants in particular?pose the biggest risk when it comes to card-data compromises, while point-of-sale systems based on personal computers as well as those hooked up to broadband connections are at significantly greater risk. That's according to new data released by AmbironTrustWave, a Chicago-based company that performs security audits …

Growth in transaction volume slowed at online payment processor PayPal Inc. in the second quarter, with total transactions for the period reaching 143.3 million, up 27% from the year-ago quarter, according to data released last week by eBay Inc., PayPal's San Jose, Calif.-based parent company. That compares with year-over-year growth …