Transaction Processing

Acies Inc., an independent sales organization based in New York, today announced it has entered into an agreement with Fort Pierce, Fla.-based Atlantic Synergy Inc., under which the ISO will become a subsidiary of Atlantic Synergy and hold a controlling interest in the company. As part the acquisition, Atlantic Synergy, …

Six New York-based payments businesses, including The Clearing House, a check-settlement processor, and Small Value Payments Co. (SVPCo.), an electronic transaction processor, will be merging over the next 12 months into a single company, The Clearing House announced today. The merger, which has been in the planning process for the …

Visa U.S.A. reported today that the dollar volume of transactions occurring on its cards on the Internet through the first five months of 2004 is running ahead of the gain seen in calendar 2003. Through May 31, Visa's e-commerce volume on credit and debit cards jumped 59% over the year-ago …

The national network for the automated clearing house system is sifting through comments on a new rule that would levy fines on banks that fail to reduce return rates to below 1% for all client originators and for all categories of ACH transactions. Within a week or so, says the …

Making transactions more efficient has long been a driving force behind the conversion of paper-based to electronic systems, but now a new report shows how efficiencies derived from electronically processed payments contribute to a national economy. The report, entitled “The Benefits of Electronic Payments in the Canadian Economy,” was released …

Having already announced last year its plan to shutter 13 check-processing facilities by the end of 2004, the Federal Reserve now says in a statement released this week it plans further closures. The announcement from the Fed does not indicate how many locations might be affected, nor is it specific …

While the burgeoning digital song market has focused attention on the potential for micropayments in the U.S., a Canadian processor has signed about 1,000 online merchants, the most recent of which is Puretracks, Canada's first and largest purveyor of digital songs. Vancouver-based Paystone Technologies Corp., which was founded in 2001, …

When TNS Inc. announced late last month that it had bought U.S. Wireless Data's Synapse processing gateway, it said it was planning to use the gateway's non-wireline transaction capability to help open high-potential markets like fast food (Digital Transactions News, May 27). But equally important to the company's strategy is …

The first U.S. parking meters equipped to process online authorizations for credit cards have gone live in Seattle. Moorestown, N.J.-based Parkeon Inc. has shipped the first 80 of its so-called pay-and-display parking terminals, which run wireless credit card transactions, for street parking in Seattle. Parkeon's contract calls for it to …

Brother International Corp., Bridgewater, N.J., a maker of office equipment such as computer printers and fax machines, has announced it is marketing a wireless device for use by mobile merchants and salespeople looking to be able to process credit card transactions in the field. The device, a Samsung SPH-i700 Pocket …