The NYCE electronic funds transfer network, which last month said it will pilot PINless purchase transactions online, has become the second EFT system to agree to test Web-based debit card transactions secured by PINs. While Steven A. Rathgaber, president and chief operating officer at Secaucus, N.J.-based NYCE, says many of …

Signs are pointing to fewer merchant-account bookings by independent sales organizations, and that's translating into fewer orders for VeriFone Holdings Inc., the largest U.S.-based point-of-sale terminal developer. Last week, VeriFone reduced its revenue projections for its fourth quarter ended Oct. 31 and fiscal 2008. In a conference call late last …

Electronic commerce hasn't been the slam-dunk for the electronic funds transfer networks that it has been for Visa and MasterCard. One of the biggest issues has been if and how to facilitate Internet transactions from PIN-based debit cards issued by the EFT networks' member banks and credit unions. Now Metavante …

The PCI Security Standards Council on Monday introduced a quality-assurance program for the companies that determine whether a merchant, processor, or other entity that touches credit and debit card data meets the council's rules. The Wakefield, Mass.-based council's aim is to ensure more uniform enforcement of the Payment Card Industry …

MasterCard Inc. on Thursday announced a service it sees as a major step toward the ultimate commericialization of contactless payments via mobile phones. Intended primarily for the North American and European markets, the MasterCard Over-the-Air Provisioning Service is aimed at allowing any member issuer to readily personalize a handset for …

New data from Visa Inc. show more of the largest merchants now meet the Payment Card Industry data-security standard, or PCI. But the level of validated PCI compliance among small merchants?the overwhelming majority of businesses that accept credit and debit cards?likely remains much lower. Visa's latest figures show 81% of …

An electronic bill-presentment and ?payment system that uses the automated clearing house network picked up some momentum recently with the addition of a second participating bank to its pilot program and could gain more as processors serving thousands of banks start linking to the system. Dollar Bank, a Pittsburgh-based thrift, …

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 …

Although observers report the economic downturn has soured many restaurants on so-called pay-at-table technology for the time being, some independent sales organizations see opportunity in the market and are moving ahead with plans to exploit it. Alpine Payment Systems, an ISO in Vancouver, Wash., that processes payments for about 100 …

The dollar value loaded onto so-called network-branded or open-loop prepaid cards grew nearly 45% last year, or nine times the growth rate of closed-loop cards, according to a new report from Mercator Advisory Group. Mercator's fifth annual study of network-branded cards says the public sector is emerging as one of …