Digital Transactions Authoritative, insightful and timely information for payments professionals
The conversion of U.S. payment cards from the aging magnetic stripe to the Europay-MasterCard-Visa chip card standard will hardly be a seamless transition. That’s the word from a payments researcher and Canadian retail experts who spoke on a panel at a payments conference Tuesday near Chicago. The warnings came a …
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Walgreens Adds Western Union Money-Transfer Services to More Than 7,650 Stores
Finding a kiosk to make money transfers via Western Union Co. has become easier if there is a Walgreens or Duane Reade store nearby. Western Union and Walgreens announced this week a deal that makes Western Union money transfers available at the existing photo kiosks inside more than 7,650 Walgreens …
Read More »MCX’s InComm Deal Might Give Currency To the Idea That Its Network Is Building Momentum
Prepaid card services provider InComm Holdings Inc. announced today that it has struck a “strategic partnership” with Merchant Customer Exchange (MCX), parent firm of the fledgling mobile-payments network owned by merchants and recently branded as CurrentC. But exactly what the partnership will do for the long-aborning MCX is not clear. …
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MasterCard Sees Dollars in Tokens As mobile payments and the use of tokens for payment security grow, at least one card network is seeing an opportunity for new fee revenue. MasterCard Inc. is planning new “digital enablement” fees, one for merchant acquirers and others for card issuers. The fees are …
Read More »Cover Story: Is it Still Hip to Be Square?
Is it Still Hip to Be Square? The answer, after five eventful years, is yes. But it needs to find a consumer strategy, and right now there’s no app for that. Nobody in the staid world of the payments business had ever seen anything like it before. Dozens of buttoned-down …
Read More »Looking To Expand Beyond Digital Markets, Boku Gets a Read on Magazine Subscriptions
Ever since the carrier-billing model for mobile payments found a foothold in the digital-goods market several years ago, processors have tested various tactics to broaden the range of goods the model could be applied to. The latest example is San Francisco-based Boku Inc. and its announcement Thursday that it will …
Read More »Eye on Litigation: Mitek-USAA Trial Looms; Retailers Appeal to Supreme Court
The spat between Mitek Systems Inc. and USAA Federal Savings Bank over remote deposit capture software is set for trial Sept. 8, but the trial won’t include Mitek’s patent-infringement allegations that had been a key part of the case. In other payments-related legal action, four retail trade groups and two …
Read More »First Data Reports Improved Financials And Plans To Buy Digital Gift-Card Provider Gyft
In a busy day for First Data Corp., the leading payment processor on Wednesday reported a reduced quarterly loss and its best revenues since going private, and that it plans to buy digital gift-card services provider Gyft Inc. Thanks to recent tech-company acquisitions and moves to improve its debt-laden balance …
Read More »Annual Wallet Payments Total More Than a Quarter Billion, According to Updated Fed Study
Transactions using mobile wallets totaled at least 250.6 million and amounted to at least $9.5 billion in value in 2012, according to a payments report issued Thursday by the Federal Reserve. These results, part of a comprehensive update to a study released in December, represent the central bank’s first effort …
Read More »It May Be Late to Faster-Funding Game, But PayPal Boasts Size And Experience Edge
Catching up with rivals, PayPal Inc. on Monday joined a growing list of e-payments providers that are speeding up settlement time for U.S. merchants. But instead of making faster payments generally available, the San Jose, Calif.-based eBay Inc. subsidiary is offering to cut funding time from up to four business …
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