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An Internet-based payments network that originated in Europe is targeting the increasingly competitive U.S. micropayments market, seeking major-brand U.S. merchants and looking for licensees here for its software. Webpay Inc., a unit of Switzerland-based Webpay International, set up shop in Manhattan 11 months ago and so far has recruited 30 …
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Fed Study Says Electronic Payments Exceed Checks for the First Time
Electronic transactions in the U.S. now exceed check payments for the first time, while checks have gone from 57% of all non-cash payments to 45% in only three years, according to a Federal Reserve System report released today. There were 44.5 billion electronic payment transactions in the U.S. last year, …
Read More »Can a Veteran of ATM Networking Succeed in Health Care Processing?
A veteran ATM network executive thinks he can succeed at building a national health-care transaction-processing system, though similar efforts have a dismal record of failure. The executive, Joseph E. Wolfson, founder of the Metroteller electronic funds transfer network, expects the HealthTransaction Network to begin processing transactions from health-care insurance companies …
Read More »Canada’s Paystone Looks for a Payoff in ‘Compelling’ Content
While the burgeoning digital song market has focused attention on the potential for micropayments in the U.S., a Canadian processor has signed about 1,000 online merchants, the most recent of which is Puretracks, Canada's first and largest purveyor of digital songs. Vancouver-based Paystone Technologies Corp., which was founded in 2001, …
Read More »Pay By Touch Gets a Boost with Its IBM Alliance
Pay By Touch, a San Francisco-based company offering a biometrics-based technology that allows consumers to pay at the point of sale without presenting a card, keyfob, token, or any other payment medium, announced today that it has formed an alliance with IBM Corp. that should give the fledgling biometrics company …
Read More »Suit Settled, eBay and Tumbleweed Target Online Security
Tumbleweed Communications Corp. hopes to move forward with eBay Inc. and its PayPal person-to-person transaction unit on solutions for online transaction and e-mail security issues now that the companies have settled patent-infringement lawsuits Tumbleweed initiated in May and September 2002. In the suits, filed originally against PayPal and then against …
Read More »Recruiting Bill Payment for Internet Transactions
A new online payment system has been rolled out by a Canadian company that relies on existing bank bill payment services to allow consumers to pay for Internet purchases. Developed by Ottawa, Ont.-based MODAPay, the service has been piloted by all of the top banks in Canada and now is …
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