Virtual Currencies: Bust-Out Ahead? Witness the recent travails of the euro if you want proof of how hard it is for any new currency, even a physical currency backed by multiple governments, to attain and retain widespread usage and acceptance. The obstacles blocking the new breed of electronic currencies from …

In the Age of Durbin, banks need a product to make them feel good about payments. Enter mobile remote deposit capture, a service with cool factor that could attract and retain customers and even generate new revenue streams. by Peter Lucas Is there anything a smart phone can’t do? It …

  n San Francisco-based Square posted a notice for a “Square U Representative” position last month on its Web site and has put out reminders about it this month through Twitter as well as a feature story about it on its Facebook page. The job posting indicates the position is …

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The banks’ defeat on the Durbin Amendment—followed by their hamhanded efforts to recover lost revenue with explicit debit card fees—may have done more than tarnish their image with consumers. It may also have damaged their ability to deploy revenue-generating programs linked to debit cards, according to Beth Robertson, director of …

The Internet revolt over bills in the U.S. House and Senate aimed at thwarting online piracy might have a welcome side effect for merchant acquirers in possibly getting them out of an unwanted role as deputies charged with enforcing public policy. The online encyclopedia Wikipedia captured international headlines Wednesday when …

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Typically thought of as a mobile technology for physical merchants, NFC could soon be converting card-not-present transactions into card-present payments for e-commerce retailers. That prospect has important implications for processors and developers. By Bill Pittman Every e-commerce retailer would like to reduce its cost of payments, slash its fraud, and …

A 5-year-old law that bans U.S. banks and processors from handling online-gambling transactions won’t stand in the way of a U.S. Justice Department opinion released last week that appears to put the federal government's imprimatur on intrastate online betting. The DoJ on Dec. 23 released a 13-page memorandum giving states …

Despite criticism that free point-of-sale terminals for card-accepting merchants undercut independent sales organizations’ profitability, the company that started the trend back in 2004 remains staunchly committed to the strategy. The investment in hardware is more than returned in reduced attrition, says Jared Isaacman, chief executive of United Bank Card Inc. …