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In a move that could generate significant incremental sales on its Android Market, Google Inc. is reportedly in talks with eBay Inc. about using PayPal as a payment method for applications that run on its hugely popular Android operating system for smart phones. But the talks aren’t likely to open …
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Visa Hopes It Can Come to Terms with the Justice Department
Barely a week after Congress landed a hard left punch on the card networks, the U.S. Department of Justice might be about to land a right in the form of a lawsuit challenging network rules aimed at preventing merchants from surcharging for credit card payments or otherwise steering customers toward …
Read More »The Dodd-Frank Interchange Haircut Could Exceed $10 Billion
Visa and MasterCard debit card issuers stand to lose up to $10.7 billion in interchange income a year in a worst-case scenario under new federal interchange controls that will take effect next year, according to a Digital Transactions News analysis. Smaller reductions are more likely as the Federal Reserve Board …
Read More »Pulse Makes Web-Based PIN Debit a Commercial Service
The concept of allowing consumers to use debit cards with PINs to make purchases on the Web took a big step forward on Wednesday with the Pulse electronic funds transfer network’s announcement that it is rolling out an online PIN-debit service. With some 4,400 member financial institutions, Houston-based Pulse, which …
Read More »NRF And Visa, Often at Odds, Come Together on Storage Rules
Not always the best of friends, the National Retail Federation and Visa Inc. saw fit on Wednesday to jointly announce that Visa had clarified its card-number storage rules to affirm that merchants may present a truncated or disguised number on a transaction receipt for dispute resolution in place of a …
Read More »Consumers See Little Benefit in Interchange Regs, Research Shows
Speculation has flowed freely about the effects of the controversial “Durbin amendment” on merchants, card issuers, and the payment card networks should the interchange-regulation measure become law. But data about how consumers would be affected are scarce. Javelin Strategy and Research, however, says research it conducted late last year, in …
Read More »Visa’s Big PIN-Debit Rate Hike Further Closes Gap with Signature Debit
The gap in acceptance costs between PIN-based and signature debit, once wide, continues to narrow, payments executives say. The trend is most apparent in the new interchange schedules for Visa Inc.’s Interlink electronic funds transfer network and the signature-based Visa check card. A number of Interlink rates are rising by …
Read More »NACHA Taps The Clearing House to Help Commercialize EBIDS
Capping a process that began last fall, NACHA announced a partner on Monday to help commercialize a system it has been piloting that lets consumers receive and pay bills electronically through the automated clearing house network. The Clearing House Payments Co. LLC, a New York City-based company whose Electronic Payments …
Read More »Square Founders Get Rock Star Welcome But Give Few Details
The founders of the much-hyped Square Inc. payments system may have wowed a full-house crowd of bankers on Monday, but they added little to public understanding of how their product will actually work and how it will stack up competitively with similar offerings for mobile merchants. While polite and talkative …
Read More »Visa Deepens E-Commerce Roots with $2 Billion CyberSource Deal
In a move calculated to expand its business in e-commerce and mobile transactions, Visa Inc. on Wednesday said it will buy CyberSource Corp., an online gateway and merchant acquirer, for $2 billion in cash. The deal, which is expected to close by Sept. 30, brings together the world's largest payment …
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