Transaction Processing

Two key results of First American Payment Systems L.P.'s acquisition of National Data Funding Corp.?consummated late last year and announced last week?are that First American gains an inhouse facility for wireless, Internet Protocol-based transaction processing while R. Scott Hatfield, one of NDFC's long-time owners, can now devote himself full-time to …

PayPal Inc. has announced it will no longer allow sellers that have bank accounts registered with the San Jose, Calif.-based processor to block payments funded by credit cards, effective next month. Sellers' ability to refuse such payments has been part of the company's “Payment Receiving Preferences” policy for so-called premier …

eFunds Corp. today announced it is buying ClearCommerce Corp., an e-commerce transaction gateway specializing in online fraud detection and prevention, for $19.4 million in cash. The deal is expected to close by March 31. By acquiring Austin, Texas-based ClearCommerce, eFunds picks up anti-fraud products and expertise for the card-not-present market, …

VeriFone Inc. will continue to be controlled by GTCR Golder Rauner LLC, a Chicago-based private equity firm, and its current chief executive, Douglas Bergeron, will continue to be a major shareholder even after the San Jose, Calif.-based point of sale terminal maker completes its proposed initial public offering of stock. …

Visa reports the holiday shopping season generated a 15.7% increase in dollar volume on its card products compared to the same time last year, with volume reaching $218.7 billion on all Visa-branded cards in the Nov. 1 to Jan. 2 period. Consumer spending on the company's debit cards grew 26.2%, …

The United States Patent and Trademark Office has said it will re-examine a patent granted in 2000 to CyberSource Corp. that lies at the heart of a patent-infringement suit the Mountain View, Calif.-based processor filed last August against rival Retail Decisions PLC (ReD) and its U.S. operation, Retail Decisions Inc. …

Sovereign Bank has renewed a merchant-processing contract with First Data Corp., the Denver-based processor has announced. The five-year deal represents an extension of Sovereign Merchant Services, which was established in 2001 as one of a number of alliance agreements First Data has concluded with banks in which FDC provides merchant-transaction …

UnitedHealth Group is on track to issue as many as 20 million cards that consumers can one day use for a dual purpose: to handle eligibility verification and other point-of-care payment transactions and as a debit card to electronically access funds from a health-savings account. To date UnitedHealth has issued …

With the unrelenting rise of phishing attacks, banks and merchants are hunting for new ways to secure the identity of consumers in online transactions. That's creating opportunities for companies like LexisNexis, proprietor of one of the world's largest databases of public-record information. Now the company's RiskWise unit is looking at …

Viewpointe Archive Services LLC became the latest image-exchange venture to go live today when First Horizon and SunTrust Banks became the first banks to clear checks through the service. Earlier this fall, the Small Value Payments Co., New York, began moving check images for client banks, and Endpoint Exchange Inc., …