The nation's largest processor of e-commerce transactions this week announced its commitment to a test involving PIN debit payments on the Internet. Chase Paymentech Solutions LLC, which processes for merchants that control more than half of all U.S. transactions on the Web, expects to sign between three and five sizable …

Among its many damaging effects, financial fraud threatens the growth of online payments and banking and could drive consumers away from banks and toward electronic payment systems they perceive as more secure, such as PayPal. Those are some of the conclusions in a new report from technology research and consulting …

The Accel/Exchange electronic funds transfer network has signed up a handful of issuers for an Internet-based PIN debit pilot that processed its first transaction, for $9.49, on Wednesday, according to Michael Kelly, general manager of the Morris Plains, N.J.-based network, a unit of Milwaukee-based bank processor Fiserv Inc. Kelly says …

Key operating metrics posted solid gains in recent quarterly reports from two of the payment industry's specialty providers, non-bank ATM network operator Cardtronics Inc. and expedited bill-payment provider TIO Networks Corp. Houston-based Cardtronics, however, still posted a $57.9 million fourth-quarter loss, most of which originated with a one-time charge involving …

Yet another banking industry vendor, NCR Corp., is entering the consumer-capture marketplace. But as the field of providers gets more crowded, financial institutions are struggling to get a decent return on technology that enables consumers to make images of and deposit checks from their homes, according to an industry analyst. …

Nearly two years after introducing a same-day bill-payment service, Metavante Corp. reported on Tuesday its client financial institutions are seeing a 10% adoption rate among active online bill payers on average after 19 months of offering the product. The average rate after nine months is approximately 5%, the Milwaukee-based banking …

Banks claim they want to serve so-called underbanked and unbanked consumers, but the fees they slap onto checking accounts, particularly non-sufficient funds (NSF) and overdraft fees, are creating a strong business case for prepaid cards to displace a substantial number of checking accounts, according to a new research report. Using …

A downward-spiraling economy is accelerating what had already been a rapidly developing trend for startups to introduce online payment methods as alternatives to bank cards. Indeed, one such company, Miami-based Mazooma Inc., launched a cash-based commercial service on Tuesday with the premise that consumers are looking for ways to buy …

A group that has been investigating possible rules changes for the automated clearing house network to account for mobile payments plans to present its proposals by the end of March, according to a senior executive at NACHA, the organization that regulates the ACH. The Mobile Banking Work Group, a NACHA-sponsored …

This is the fourth installment of a six-part series exploring the impact of Web 2.0 on the payments business. Previous articles have dealt with the transition from the first generation of eCommerce to the emerging world of social networks and highly personalized interactions utilizing Web 2.0 technology. Consumers will be …