Digital Transactions Authoritative, insightful and timely information for payments professionals
Just as banks are starting to jump back into the mobile-banking market, a research report has emerged to indicate consumers may still not be ready to use their handsets for transaction services. Only 8% of online users who own a cell phone say they are interested in using the device …
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On Interchange, the NRF Turns to the States, Underscoring Sales Tax
If regulation can't be avoided, national trade groups often prefer federal regulation over regulation by states on the theory that one set of rules is less costly and easier to comply with than 50 different sets of rules. But when it comes to interchange, the National Retail Federation is challenging …
Read More »The Clearing House Prepares for Consumer Use of Payment Codes
Electronic transactions using unique numerical identifiers to mask account and routing data are rising fast, and now the company behind the technology expects it will be commercially available for consumer payments in about a year. The Clearing House Payments Co. LLC says corporate users made 80,459 transactions in 2006 using …
Read More »CheckFree’s Market Grows, But Biggest Customer Could Bolt
Never wanting for hype, the electronic bill-payment industry may actually have something solid to crow about. Bill-pay processor CheckFree Corp. released a survey this week saying that for the first time, Internet-connected households are paying more bills electronically than by paper check. Tempering the good news for the Norcross, Ga.-based …
Read More »Citi Expects New Mobile Service to Reach More Than Half of Accounts
The new mobile-banking application unveiled by Citigroup Inc. this week will penetrate more than half of the banking giant's U.S. consumer accounts within five years, an executive at Citi says. The application, dubbed Citi Mobile and set to debut Friday in California, represents the first rollout of an electronic-banking and …
Read More »If Spun off, Would Metavante Remain Independent for Long?
Barely a day after industry-leading processor First Data Corp. announced that it was going private comes word that the Milwaukee bank-holding company that owns Metavante Corp. is dusting off plans to spin off its fast-growing payments subsidiary. According to The Wall Street Journal, Marshall & Ilsley Corp. is planning a …
Read More »Eye on M-Commerce: Firethorn, Metavante, ViVOtech, MobileLime
It has been a busy week for mobile banking and payments, with an announcement from Firethorn Holdings Inc. about new bank and carrier signings; from Metavante Corp. about a joint venture to launch a U.S. mobile-payments service; from ViVOtech about a new service to allow over-the-air provisioning of event tickets; …
Read More »Morgan Stanley Outlines Risks for an Independent Discover
Broadening merchant acceptance and negotiating the shoals of merchant pricing will be key parts of Discover Financial Services LLC's strategy to survive and grow once parent company Morgan Stanley spins off the No. 4 payments network. Morgan Stanley, a New York City-based investment bank, late on Friday filed a document …
Read More »Unfazed by Wal-Mart Pullout, Home Depot Presses on with ILC Plans
Home-improvement giant Home Depot Inc. is pressing on with its plan to get an industrial-loan corporation charter despite a hostile political environment that has only grown stronger over the weekend. Opponents to ILC applications by commercial enterprises notched a victory Friday with Wal-Mart Stores Inc.’s decision to abandon its efforts …
Read More »Image Exchange Kicked into a Higher Gear in January, Stats Show
Image exchange and image clearing kicked into a higher gear in January, with more than half a billion items flowing through image-exchange networks for the first time. Just over two years since the Check Clearing Act for the 21st Century (Check 21) became effective, the volume of checks converted to …
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