Digital Transactions Authoritative, insightful and timely information for payments professionals
How will the millions of cash-preferring U.S citizens pay for mandated health care coverage online? The answer lies in learning from other industries that have addressed the problem, says Danny Shader. Millions of uninsured Americans who are attempting to buy health insurance as part of the Affordable Care Act are …
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Tokenization Plays the Central Role in Visa’s New Cloud Payment Suite
Visa Inc. moved on Thursday to commercialize mobile payments using cloud-based near-field communication technology with its release of Visa Cloud Payment Solutions. A related development, the announcement of the upcoming debut of a tokenization service, is aimed at locking down cloud-based NFC and other digital payments. The new services include …
Read More »In a Move That Baffles Experts And Vexes Some Users, PayPal Drops Remote Capture
With its abrupt move over the weekend to discontinue mobile remote capture of checks, PayPal Inc. has puzzled payments experts and vexed at least some users. Some PayPal devotees took to Twitter on Sunday to post their reactions, which were generally negative. “I was told today you all won't be …
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Token Specs: Curb Your Enthusiasm The three biggest card networks would just like everybody to calm down. As dramatic as their joint tokenization announcement was last month, key officials with Visa Inc., MasterCard Inc., and American Express Co. have been at pains to tamp down the far-reaching industry speculation the …
Read More »AmEx Cardholders Can Use Points to Pay for Taxi Rides in New York
American Express Co. cardholders for the first time can use their rewards points at the point of sale when they pay for rides in New York City taxis that use VeriFone Systems Inc. taxi point-of-sale services, AmEx said Monday. Cardholders can use their points in more than 7,000 New …
Read More »Card Network Executives Take Care To Narrowly Define Proposed Token Standard
By John Stewart As dramatic as their joint tokenization announcement was on Tuesday, key officials with Visa Inc., MasterCard Inc., and American Express Co. cautioned on Wednesday against far-reaching industry speculation about how the announcement might affect or relate to other standards, including near-field communication (NFC) and the Europay-MasterCard-Visa (EMV) …
Read More »Networks: Remote Capture Hits Its Stride
Peter Lucas With big banks like Chase and Citibank aggressively promoting remote deposit capture, consumer demand for the product is skyrocketing. As a result, more and more banks are using it as a tool to acquire and keep customers. It’s been a long time since banks have had a customer-acquisition …
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Annual Field Guide to Alternative Payments You’ll need a fair amount of memory on your hard drive to keep track of all the comings and goings in the bubbling world of alternative payments. By now, our Field Guide to Alternative Payments needs no introduction. It’s one of our most popular …
Read More »AmEx Reports a Strong Quarter on Higher Usage Domestically And Abroad
Higher cardholder spending and historically low credit losses helped American Express Co. post record first-quarter revenues and earnings. The company reported on Wednesday that U.S. card-billed business increased 12% to $139.6 billion in the first quarter from $124.1 billion in 2011’s first quarter. Volume outside the U.S. also increased 12% …
Read More »Western Union Offers Walk-in Plus Online Bill Pay with New WU Pay Service
The Western Union Co. took a decisive step into digital payments and online shopping with the launch last week of the WU Pay platform. The platform allows shoppers in the U.S. to pay for online purchases from their existing bank accounts or in cash at Western Union agent locations. Customers …
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