Digital Transactions Authoritative, insightful and timely information for payments professionals
While the news in smart phones this week has been all about Verizon Wireless’s announcement that it will start marketing the iPhone next month, the news that may well be of more importance to mobile payments and mobile banking is the hot streak that Google Inc.’s Android operating system is …
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Data Breaches Stabilize in 2010, But There’s an Asterisk
At first glance, a review of the data-breach scene in 2010 shows signs of improvement, or at least stabilization, according to figures from the Identity Theft Resource Center (ITRC). Although the total number of reported breaches increased to 662 from 498 in 2009, the number of records known to have …
Read More »Next in Merchants’ Cross-Hairs
Acquiring Next in Merchants’ Cross-Hairs Lauri Giesen Fresh from their success in winning regulation of debit card interchange, merchants smell bank blood in the water. That means banks and the networks had better act fast if they want to protect credit card interchange. Now that retailers have gotten Congress to …
Read More »Rewriting the Transaction Routing Rules
Rewriting the Transaction Routing Rules The Durbin Amendment throws out exclusive debit network agreements and gives merchants more freedom to route debit transactions according to their wishes. Who will win and lose in the post-Durbin world? BY JIM DALY By the time you read this, the Federal Reserve Board will …
Read More »Free of IRDs, Check 21 Challenges the ACH
Networks Free of IRDs, Check 21 Challenges the ACHLinda Punch The Check 21 law created the substitute check, or image-replacement document. After six years and a brief boom, IRDs are on their way to the payments dustbin, just as Check 21’s backers intended. What are the implications for ACH payments? …
Read More »‘We’re Betting on the Gesture of Tapping’
Transactors ‘We’re Betting on the Gesture of Tapping’John Stewart By building bridges between the online and offline worlds, Bling Nation hopes to popularize ‘tapping in’ at merchants. It’s all about going viral, says one of the mobile-payments startup’s top executives. Scarcely two years old, Bling Nation Ltd. has already deployed …
Read More »Sharp Comments Flow into Fed in Wake of Interchange Proposals
The comments are flowing in to the Federal Reserve Board in the wake of the board’s controversial proposals to set a 12-cent cap on debit card interchange, ban exclusive network agreements on debit cards, and give merchants more freedom to direct the routing of debit transactions. To a large degree, …
Read More »While Slipping, Credit Cards Will Remain Most-Used Online Payment
Credit cards will continue to dominate online payments for at least the next five years, but they will lose share to debit cards, alternative payments, and prepaid and gift cards, according to new projections from Javelin Strategy & Research. Javelin predicts in its “2010 Online Retail Payments Update and Forecast” …
Read More »NFC Phones Poised for a Worldwide Boom, But U.S Mobile Payments Will Lag
The global market for smart phones with near-field communication technology (NFC) will heat up in 2011, opening the way for contactless payments via mobile phones, according to a new report from Mercator Advisory Group Inc. But while the U.S. is poised to be a breakout market for NFC at some …
Read More »Fed Could Cut Signature Debit Interchange up to 60%, Goldman Clients Say
Financial-industry clients of Goldman Sachs & Co. are bracing for cuts of 40% to 60% in signature debit card interchange rates when the Federal Reserve Board releases its draft regulations for the controversial fee, possibly as soon as Thursday. Many of the investment-banking firm’s clients also expect the Fed to …
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