Digital Transactions Authoritative, insightful and timely information for payments professionals
Peter Lucas Keeping up with change in electronic payments is hard, but essential, work for community banks. Here’s how they’re doing it. Every time a huge bank—Bank of America Corp., JP Morgan Chase & Co., and Wells Fargo & Co., for example—makes a splash in payments, as …
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Opinion & Analysis: What Visa Is up to
n by Steve Mott While most observers have viewed Visa’s recent string of acquisitions as a mere broadening of its conventional card franchise, a long-time analyst of the payments business sees a clever play for dominance of the digital future. Just when the U.S. payments industry appears poised …
Read More »The Rise of the Quasi-Merchant
Purveyors of card-acceptance services for mobile phones are booking merchants by the hundreds of thousands. But many of these merchants present underwriting risks and generate little charge volume. Are they worth it? By Jim Daly Everyman a merchant? Thanks to smart phones and aggressive merchant processors such …
Read More »Networks AmEx Serves up Serve
Linda Punch A product of its acquired Revolution Money program, Serve is American Express Co.’s entrant into the increasingly competitive mobile, online, and person-to-person payments market. Will it deliver? When an industry heavyweight like American Express Co. throws its hat into the digital-payments ring, people sit up …
Read More »Endpoint: Mobile Payments: EMV’s Best Friend in the U.S.
Altering consumer behavior for a complete move away from the payment card is realistically years and years in the future. Far from getting in the way of chip-and-PIN card adoption in the U.S. market, mobile payments at the point of sale will actually help pave the way for …
Read More »Reviews Are in on Fed’s Final Debit Rule: Thumbs Down from Both Retailers And Banks
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Read More »Fed’s Final Durbin Rule Chops Interchange by More Than 40%, Extends Compliance Deadline
n The 5 basis points added by the Fed to the 21-cent cap is intended to capture some of the fraud losses issuers sustain, the central bank said in a staff memo released on Wednesday summarizing the final rule. The final rule also allows, on an interim basis, a …
Read More »Intuit Buys Technology from Citi-SK Telecom Venture to Speed up Mobile Launches
n Intuit announced late on Monday that it had acquired the mobile Web platform developed by San Mateo, Calif.-based MMV, a joint venture formed in 2008 by Citigroup Inc. and SK Telecom, a major South Korean telecommunications company, to offer mobile-banking capability worldwide. Intuit, which had been licensing the …
Read More »Why a Florist in Austin Could Portend a Rosy Outlook for Isis
n Mike Martinez, co-owner of Ben White Florist Inc. in Austin, Texas, says the lack of NFC-enabled smart phones in the U.S. is not an issue for him. He notes the rapid technological evolution of smart phones and the frequent upgrade cycles of consumers. “It will take some time, …
Read More »S1, Fundtech Agree to Merge in Deal That Hinges on ‘Transaction Banking’
n In the merger, Fundtech shareholders will receive 2.72 shares of S1 common stock for each Fundtech share, leaving S1 shareholders with a 55% stake in the combined entity. The new company will be rechristened Fundtech Corp. and will be based at S1’s headquarters in Atlanta. Reuven BenMenachem, chief …
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