The National Automated Clearing House Association, Herndon, Va., is preparing to launch a test early next spring of a new electronic transaction type for payments on the Internet. The new payment category would be best suited for payments to so-called spontaneous retailing sites?those operated by hard goods merchants, rather than …

Moneris Solutions, a major acquiring processor in North America, has become the first processor to agree to adopt Peppercoin Inc.'s latest micropayments system. Under an agreement reached this week, Peppercoin will serve as a gateway for transactions performed at both brick-and-mortar and online U.S. merchant locations and sites served by …

Nashville-based iPayment Inc., a publicly held independent sales organization that has executed a string of acquisitions over the past two years in the rapidly consolidating acquiring market, today announced its acquisition of Transaction Solutions LLC, a Pittsburgh-based ISO serving 4,000 small merchants with $500 million in annual card volume. No …

A Hampton, Ga.-based processor that has tried for four years to bring to market a system to enable on the Internet debit card transactions linked to personal identification numbers may be close to signing an additional network for access to PIN debit accounts. Kryptosima, a unit of InstaPay Systems Inc., …

A network built by New York-based Small Value Payments Co. (SVPCo.) to allow banks to exchange check images has begun operations with exchanges between KeyBank and J.P. Morgan Chase. The network began with volume at a “controlled” level to allow each bank to test operations, according to an announcement from …

Canada's five major banks next spring will roll out a service that will allow consumers to pay for goods and services on the Internet with debit cards linked to personal identification numbers. The service, called iDebit, has been at least 18 months in the making and is expected to be …

On Track Innovations Ltd. and Atmel Corp. announced today they have received the first order for microprocessors in “commercial quantity” for MasterCard International's PayPass contactless payment program. OTI said it also expects orders for card readers to support rollouts of PayPass cards by issuers later this year. The two companies …

Banks are getting set to unveil revamped fleets of ATMs equipped with the latest technology and able to perform a wide range of advanced transaction functions, such as truncation of check deposits. That's according to a new report from Needham, Mass.-based consultancy TowerGroup, which says large banks in the U.S. …

Defenders of interchange for electronic credit and debit transactions argue merchants are losing sight of the value interchange pays for. The subject of interchange has become hotly contested in the wake of lawsuits by retailers challenging it or aspects of it, and following recent interchange hikes by the bank card …

Piggly Wiggly Carolina Co., a Charleston, S.C.-based supermarket chain, today switched on an in-lane biometric payment system in four stores on the way to a planned rollout of the fingerprint authentication system to all 116 stores in the chain. The system, from San Francisco-based Pay By Touch, allows customers to …