Transaction Processing

The promise of Check 21 may be unfolding more slowly than enthusiasts would like, but the country's largest image-exchange network recorded another gain in volume in January. New York-based SVPCO, part of the The Clearing House Payments Co., which is owned by many of the nation's largest banks, handled 13.9 …

With the melding of Chase Merchant Services and Paymentech L.P. going smoothly as the new Chase Paymentech Solutions LLC, boss Michael P. Duffy foresees his giant merchant-acquiring firm doing more than $600 billion in charge volume this year. In an interview for a story to appear in Digital Transactions' March …

Eight months after rolling out its Internet payment service in the U.S., Ottawa-based MODASolutions says it is seeing results, both in merchant recruitment and in consumer adoption. The company, whose SECURE-eBill product allows consumers to pay e-commerce merchants in the same way they make electronic bill payments, won't disclose transaction …

Webpay Inc.'s Click&Buy payment service, which handles largely digital-content sales, will begin processing transactions on consumers' phone bills April 1. The service will work with two so-far unnamed telecommunications carriers that together cover 55% of U.S. land-line subscribers, says Fabian G. Siegel, president and chief executive of Webpay, which has …

CyberSource Corp.'s acquiring business now accounts for fully a quarter of revenue for the Mountain View, Calif.-based provider of gateway and fraud-management services for e-commerce merchants, the company announced today. That represents significant growth from a year ago, when the fledgling acquiring business, in which the company offers and supports …

Qpass Inc. has announced it is the first processor to reach the $1 billion mark in premium digital content. The Seattle-based company, which produces billing software primarily for mobile carriers, says it hit the milestone Jan. 11 and has now exceeded 400 million paid downloads on its platform. While not …

Philip W. Tomlinson, chief executive of payment processor Total System Services Inc. (TSYS), played up his firm's strong fourth-quarter and 2005 financials and growth prospects today despite the pending loss of the huge Bank of America Corp. consumer credit card file. Columbus, Ga.-based TSYS reported fourth-quarter net income of $49.7 …

Deep discounts on interchange rates for Internet transactions authenticated through MasterCard International's SecureCode technology are taking effect just as the security system appears to be attracting more issuers and online merchants, according to a vendor of online authentication systems that supports both SecureCode and Visa USA's rival Verified by Visa …

The trend among independent sales organizations and other distributors to offer point-of-sale terminals to merchants at no nominal cost to them?the so-called free terminal trend–is building the case for POS software as an alternative to dedicated, standalone terminals, says the top executive at one company that specializes in PC-based transaction …

SVPCO, which operates an image-exchange network controlled by some of the nation's largest banks, said today it saw its image volume climb 33% last month to a new monthly high of 11.7 million items, allowing the new system to close its first full year having trafficked nearly 52 million items. …