Mobile-deposit and imaging software provider Mitek Systems Inc. said it doubled to 161 the number of financial-institution customers of its flagship Mobile Deposit product in its fourth fiscal 2011 quarter from 80 in the third quarter. The nation’s top five banks and seven of the top 10 now use or …
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With an Android App Upgrade, PayPal Launches Its First NFC Product, A P2P Widget
In the wake of strong growth in its mobile-payments business, PayPal Inc. on Tuesday made available an upgraded Android app that includes a widget for person-to-person payments using near-field communication (NFC) technology. The launch represents the San Jose, Calif.-based e-commerce processor’s first live product based on NFC, a short-range …
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The Concentrated World of ISOs Reps from more than 1,200 independent sales organizations pound Main Streets, malls, and strip shopping centers in search of merchants interested in payment-processing services. That number suggests a wide-open industry, but a new study of ISOs sheds light on just how few players …
Read More »Security: Malware Becomes More Malicious
By Jane Adler The payments industry has made great strides in the area of security, but malicious computer code is still an ever-evolving threat to processors and merchants. For a restaurant manager, Gary Sipp knows a whole lot about malicious computer software, usually referred to …
Read More »Components: ATMs for Modern Consumers
By Peter Lucas With transactions leveling off, independent ATM networks are gearing up to offer a host of new services aimed at the unbanked and the offers-obsessed. Increasing ATM transaction volume is a tall order these days. Growth in total transaction volume has slowed to …
Read More »M-Commerce: What To Do Until NFC Arrives
By Karen Epper Hoffman Next year may be the year of NFC. Then again, it may not be. In the meantime, a slew of startups have some alternatives to think about. Ever hear of Starbucks? Near-field communication technology (NFC) may have taken a few strides …
Read More »Endpoint: Nice Work if You Can Keep It
For banks, the e-payments business has become an oasis of stability and growth at a time of financial turmoil. But the threat of non-bank entrants, together with inflexible legacy payments systems, could undermine the business just when banks need it most, warns Louis Blatt. The pressure of maintaining …
Read More »Partisans Quickly Take Sides Over Plan To Repeal the Durbin Amendment
The unceasing controversy over the Durbin Amendment and its debit card interchange price controls continued Wednesday when two members of Congress declared they would introduce legislation to repeal the measure. The Republican-controlled House of Representatives might very well pass the bipartisan proposal, but its survival chances are much lower in …
Read More »New Figures Show How a Handful of Players Dominate the Acquiring Business
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Read More »Strategies: Getting Beyond Square
By Jane Adler Rightly or wrongly, lots of investors are mesmerized by the high-profile startup Square. But it’s not the only newbie transforming the payments industry as venture-capital firms scramble to find the next big idea. Some startup companies get all the attention. The …
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