Digital Transactions Authoritative, insightful and timely information for payments professionals
A mobile-banking feature that allows ATM users to stage withdrawals in advance received a patent Tuesday from the U.S. Patent and Trademark Office. The technology, conceived and implemented by Paydiant Inc., a Wellesley, Mass.-based startup, has already been integrated into software at ATM maker Diebold Inc. and at Fidelity National …
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With Marijuana Sales Now Legal in Colorado, Will the Smoke Clear on Pot Payments?
The smoke seemed to clear a bit this week on the status of electronic payments for Colorado shops selling now-legal recreational marijuana, but the nascent merchant category still remains in what effectively is a legal no man’s land between conflicting state and federal laws. Some 20 states and the District …
Read More »Cover Story: Digital Transactions – 10th Anniversary Issue
A Look Back And a Provocative Look Ahead Welcome to an anniversary party— one played out not in a ballroom or country-club drawing room but in pages of cold print. The milestone we are marking is our 10th anniversary of publishing Digital Transactions, an enterprise we rather immodestly think of …
Read More »Research Group Picks Judge’s Overturning of Fed’s Durbin Rule as 2013’s Top Payments Event
We couldn’t recruit David Letterman to help us with this article, but what follows are the Top 10 U.S. payments events of 2013 as identified by the Retail Payments Risk Forum, a research and industry-dialogue unit at the Federal Reserve Bank of Atlanta. 10. The Consumer Financial Protection Bureau finalized …
Read More »Fed Report: Plastic Strengthens Its Grip on Payments As Credit Cards Resume Growth
More than ever, plastic dominates the business of electronic payments in the United States, with two-thirds of all noncash transactions in 2012 occurring on a card, up substantially from 60% just three years earlier. That’s according to the Federal Reserve System’s triennial payments study, released Thursday. The sweeping research report, …
Read More »PayPal Picks up StackMob In Bid to Streamline Payments Features for Mobile Apps
PayPal Inc.’s acquisition of mobile developer StackMob Inc. may help it build a talent pool to more quickly and easily deploy mobile apps, suggests one analyst. n “We are building one of the most modern, advanced development environment and infrastructure in the payments industry,” a PayPal spokesperson says. “We believe …
Read More »Senate Hearing Recognizes Bitcoin’s Strengthening Toehold in Electronic Payments
Might the Bitcoin digital currency be heading toward legitimacy among skeptical regulators and law-enforcement officials? Testimony at a U.S. Senate committee hearing Monday indicated that government may be ready to make peace with Bitcoin and, by extension, other new digital forms of payment, though if and when these new systems …
Read More »The Fed Seeks Ideas on How To Take the Tail Fins Off of U.S. Electronic Payments
How to improve the U.S. payment system? Figure out a way to make electronic payments faster and more secure, as well as a system that would connect various closed-loop payment networks with hundreds of millions accounts. And reduce regulation, too. Those were some of the ideas bandied about Thursday at …
Read More »A New Harbortouch POS Terminal Incorporates EMV and NFC Payments
Independent sales organization Harbortouch has released a new payment terminal that incorporates near-field communication, a smart card reader and a magnetic-stripe reader. Dubbed Perkwave, the terminal, which carries no cost except for transactions processed through it, includes a contactless card reader adorned with a consumer-facing display. Point-of-sale device maker …
Read More »The Gimlet Eye: Glimmers of Hope for In-Store Mobile Payments
The early fall has brought some encouraging news for those in the e-payments business who despaired of ever seeing widescale merchant adoption of mobile payments in brick-and-mortar outlets. Interestingly, none of the news has to do with near-field communication (NFC), the short-range contactless technology that, five years ago, everyone thought …
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