Digital Transactions Authoritative, insightful and timely information for payments professionals
Retail purchases online will reach $318 billion this year, up a healthy 13% from 2011, with mobile transactions accounting for more than 6% of that volume, according to a new report from Javelin Strategy & Research. This year marks the first time mobile-originated transactions have accounted for a meaningful share …
Read More »Search Results for: durbin amendment
The Gimlet Eye: How To Cut Interchange at the Stroke of a Pen
Merchants and their various industry trade groups have spent quite a lot of time—not to mention money—on lobbying for regulations to control interchange costs. And not without success. In 2010, they got Congress to add the Durbin Amendment, which caps debit interchange for the biggest issuers, to the massive Dodd-Frank …
Read More »Acquiring: Stumbling Blocks on the Migration Path
Jane Adler With an April deadline looming, industry observers’ doubts are growing that merchant processors will be ready to handle EMV transactions. Nothing inspires like a deadline. Just ask the merchant acquirers and processors that face a quickly approaching April deadline to be ready to process EMV or chip card …
Read More »E-Commerce: Minting New Ideas for Virtual Cash
Jim Daly The Royal Canadian Mint held a first-of-its-kind competition this year to spawn ideas for virtual cash. Could some of these ideas solve the problem of the high cost of low-value electronic payments? From Silicon Valley to India, almost the entire world is bubbling with new ideas for electronic …
Read More »Apriva Extends Agreement With Visa To Offer Discounted Vending-Machine Pricing
Fewer than two months after a competitor announced a similar deal, wireless payments provider Apriva Inc. this week reported that it would continue offering pre-Durbin Amendment discounted acceptance pricing on Visa cards to vending-machine operators. Debit card interchange in late 2011 became a major concern for vending-machine operators and other …
Read More »The Federal Trade Commission Sniffs Around a Visa Debit Gateway
Already under investigation by the U.S. Department of Justice for its competitive response to the Durbin Amendment debit card regulations in 2010’s Dodd-Frank Act, Visa Inc. is now getting scrutiny from the Federal Trade Commission about a gateway service that routes transactions to PIN-debit networks. Visa disclosed on Friday in …
Read More »Judge Gives Preliminary OK to the Controversial Credit Card Interchange Settlement
To the dismay of retailers but the joy of the card networks and bank defendants, U.S. District Judge John Gleeson on Friday gave preliminary approval to the controversial settlement of credit card interchange litigation announced July 13. The National Retail Federation, the leading retail-industry trade group and an outspoken foe …
Read More »Visa Reports Growth in Credit, Less Bleeding in Debit, Progress for Its V.me Wallet
Visa Inc. on Wednesday reported brisk growth in its credit business and a stabilizing debit market while touting progress for its new digital wallet, V.me. Overall, the results released for Visa’s fourth quarter show the world’s biggest payments network is wising up about how to cope with a new, more …
Read More »The Gimlet Eye: The Fed’s Prepaid Beneficiaries
Last month came word of what appears to be a potent new prepaid card offering from American Express Co. Dubbed Bluebird and offered through Wal-Mart Stores Inc., the card runs on AmEx’s new Serve transaction platform and eschews many of the pesky fees other prepaid cards levy on consumers. No …
Read More »Trends & Tactics: Groupon Moves Beyond the Daily Deal
With its core daily-deal market getting crowded, market leader Groupon Inc. recently made two moves that position the company as a rival of independent sales organizations, value-added resellers, PayPal Inc., and others trolling for mobile-payments transactions from small merchants. In October, Chicago-based Groupon rolled out its Breadcrumb service, a point-of-sale …
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