Digital Transactions Authoritative, insightful and timely information for payments professionals
By John Stewart n The good news for merchant processors is that the U.S. acquiring market will turn in a robust performance over the next five years, growing at an average annual rate of 10.5%. The bad news, at least for acquirers that remain wedded to conventional terminals and conventional …
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Hearing Will Be a Milestone in Interchange Litigation, But Maybe Not the End
Eight years from their genesis, the lawsuits challenging bank card interchange now collectively known as MDL 1720 are scheduled to reach a milestone Thursday when U.S. District Judge John Gleeson convenes a so-called fairness hearing in his Brooklyn, N.Y., courtroom. The hearing’s purpose is for Gleeson to determine whether …
Read More »Isis Adds Specialty POS Equipment Providers As It Readies Its National Rollout
By Jim Daly The Isis mobile-payments service on Wednesday said five specialty point-of-sale hardware makers would integrate Isis’s SmartTap technology into their products. The companies join a number of major POS terminal makers, including U.S. market leaders VeriFone Systems Inc., Ingenico S.A. and Equinox Payments, already committed to supporting Isis …
Read More »Native Electronic Applications Shine on the ACH As Check-Based Codes Slide
By John Stewart n Electronic processing of payments that originate as paper checks dropped dramatically in the second quarter on the automated clearing house network, while payments that start out as electronic items grew briskly, according to the latest report from NACHA, the ACH’s governing body. n The decline in …
Read More »The Gimlet Eye: Here Comes the Judge
The events unleashed by U.S. District Judge Richard J. Leon’s seismic decision at the end of July have not completely unfolded as we write. More hearings are yet to be held, and the Federal Reserve has until the end of the month to decide whether to appeal. But one thing …
Read More »Trends & Tactics
NFC Stalwart Isis Preps for a Rollout Isis, the smart-phone-based payments machine owned by three big mobile-telecommunications carriers, has stuck with near-field communication (NFC) through thick and thin while other mobile-payments providers have either avoided the high-powered but demanding technology altogether—think PayPal—or scaled back their commitment to it—think Google Inc. …
Read More »Acquiring: ISOs Enter the Age of Regulation
Linda Punch Time was, regulators largely left independent sales organizations and other acquirers alone. Now, with a trio of major enforcement actions, the Federal Trade Commission is showing how those days are over. For entities that play such a key role in the acquiring industry, independent sales organizations have led …
Read More »Strategies: How AmEx’s Bluebird Enhancements Miss More Immediate Customer Needs
Ronald Mazursky and Jehan HamediAn analysis of customer chatter on social media shows how the T&E giant may have to repair its new prepaid product to make it take wing. The recent announcement by American Express Co. and Wal-Mart Stores Inc. of upgrades to the Bluebird product seemingly responds to …
Read More »Cover Story: Wall Street Pulls the Strings
Banks remain key clients, but ultimately Visa and MasterCard must serve the interests of major investors. Can they pull that off while warring with merchants over fees?By Peter Lucas Former Visa Inc. chairman and chief executive Joe Saunders couldn’t have been happier on March 19, 2008, when the day’s trading …
Read More »Networks: Once Again, with Feeling
By Jim Daly and John Stewart A judge says the Federal Reserve Board failed to carry out Congress’s will for debit cards when it wrote its rules implementing the Durbin Amendment. Now what? Most businesses dislike government regulations. But they really hate situations where a regulation gets upended, the result …
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