Digital Transactions Authoritative, insightful and timely information for payments professionals
Just a week ago, it looked like MasterCard Inc. was about to win a battle in its ongoing debit card war with market leader Visa Inc. MasterCard stalwart Citigroup Inc. had struck a deal to buy, with help from the government, most of struggling Wachovia Corp.'s banking assets, including Wachovia's …
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MasterCard Could Catch a Break from Citi’s Deal for Wachovia
Citigroup Inc.'s government-assisted takeover of Wachovia Corp.'s banking assets, announced Monday morning, holds a debit card silver lining for MasterCard Inc. in a deal that otherwise symbolizes the radical reshaping of the banking industry after the mortgage meltdown. Citi is a predominantly MasterCard issuer while Wachovia is a big Visa …
Read More »Visa Plans Launches for Google’s Android, Nokia, And Money Transfer
Visa Inc. on Thursday said it will introduce transaction alerts and other services that will work with Google Inc.'s new Android operating system for mobile phones. The world's largest payments network also said it has developed contactless-payment and money-transfer applications for a new handset from Nokia that features near-field communication …
Read More »Interchange: the Unheralded Benefit of Unembossed Cards
Visa Inc. this week announced it would permit the widespread issuance of unembossed consumer credit and debit cards and business debit cards. In doing so, Visa played up the advantages to issuers, including less-complex supply-chain management, quicker activation, the ability to issue cards to customers in person at bank and …
Read More »Debit Rivalry Heats up with National City, RBS Shifts to Visa
With National City Corp. and Royal Bank of Scotland Group Plc moving portfolios into its camp, Visa Inc. scored two big debit card wins over MasterCard Inc. this week in the bank card networks' ceaseless struggle to curry issuer and merchant favor. Analysts say the payment industry can expect to …
Read More »Funding in Hand, eBillme Zeroes in on Consumer Cash Preference
Sensing a strong shift among consumers away from credit and toward cashlike payment, ModaSolutions Inc.' s eBillme online-payment system plans to pump a large share of its resources into recruiting new merchants and funding promotions with those merchants to attract more buyers, the company's top executive says. Much of the …
Read More »Fiserv Scores Mobile ‘Triple Play,’ But No POS Payments Soon
Although processor Fiserv Inc. dived in to mobile banking and payments head first on Tuesday with its announcement that it would offer mobile services through three channels on one platform, it will be some time before mobile point-of-sale payments become available on the new product. Dubbed Fiserv Mobile Money, the …
Read More »Canadian Business Group Warns of Higher POS Debit Pricing
A big change may be in the offing for Canada's point-of-sale debit market that could bring American-style percentage-based interchange to a system whose pricing currently is based on flat fees. The change could possibly even bring Visa and MasterCard debit cards to the country for the first time. The result, …
Read More »Post-IPO, the Bank Card Networks Open up To Go for Volume
This is the fifth installment of a six-part series exploring the growing economic tensions and structural conflicts between acquirers and issuers in the bank card business. Once upon a time, the idea of non-bank access to the Visa Inc. and MasterCard Worldwide networks for payment innovations was about as far-fetched …
Read More »Online PIN Debit Gets a Boost with the Latest UATP Payments Deal
Universal Air Travel Plan's alternative-payments initiative added a fifth processor this week with the announcement that Acculynk Inc. will process PIN debit transactions online for airlines that choose to enable the option through UATP's switch. The news not only further's UATP's 3-year-old effort to add alternatives to credit cards for …
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