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n At a conference call with analysts to discuss the No. 2 payment card network’s third-quarter earnings, MasterCard president and chief executive Ajay Banga said his company is offering select merchants and merchant acquirers incentives to direct debit card transactions MasterCard’s way. “We are in a completely different competitive …
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Trends & Tactics
The Concentrated World of ISOs Reps from more than 1,200 independent sales organizations pound Main Streets, malls, and strip shopping centers in search of merchants interested in payment-processing services. That number suggests a wide-open industry, but a new study of ISOs sheds light on just how few players …
Read More »Acquiring: The New Pricing Puzzle
By Lauri Giesen The Durbin Amendment will disrupt merchant acquirers’ long-standing pricing strategies, at least temporarily. How long will the profit-padding opportunities created by Durbin last? When retailers and their trade associations rallied in support of the Durbin Amendment to the Dodd-Frank Act last year, …
Read More »Security: Malware Becomes More Malicious
By Jane Adler The payments industry has made great strides in the area of security, but malicious computer code is still an ever-evolving threat to processors and merchants. For a restaurant manager, Gary Sipp knows a whole lot about malicious computer software, usually referred to …
Read More »Components: ATMs for Modern Consumers
By Peter Lucas With transactions leveling off, independent ATM networks are gearing up to offer a host of new services aimed at the unbanked and the offers-obsessed. Increasing ATM transaction volume is a tall order these days. Growth in total transaction volume has slowed to …
Read More »M-Commerce: What To Do Until NFC Arrives
By Karen Epper Hoffman Next year may be the year of NFC. Then again, it may not be. In the meantime, a slew of startups have some alternatives to think about. Ever hear of Starbucks? Near-field communication technology (NFC) may have taken a few strides …
Read More »Endpoint: Nice Work if You Can Keep It
For banks, the e-payments business has become an oasis of stability and growth at a time of financial turmoil. But the threat of non-bank entrants, together with inflexible legacy payments systems, could undermine the business just when banks need it most, warns Louis Blatt. The pressure of maintaining …
Read More »Citing New IRS Rules, the ETA And the ABA Ask to Delay Part of Federal Reporting Law
Two industry trade groups are asking for a delay in implementation of portions of the new federal law requiring acquirers to report merchants’ electronic payment transactions to the Internal Revenue Service, saying constant changes in the reporting form and other problems are making it difficult to meet the reporting …
Read More »In the Wake of Reporting Complaints, IRS Says It Will Delay Penalties, Withholding
Responding to complaints about problems in implementing a new federal law requiring acquirers to report merchants’ electronic payment transactions, the Internal Revenue Service announced on Wednesday it will delay penalty provisions and withholding requirements for a year, until Jan. 1, 2013. Acquirers still are required to file the new 1099-K …
Read More »With Numbers up, Visa Execs Touch on Strategies to Keep Network Dominant
Confirming other findings that payment card usage is picking up in the U.S., Visa Inc.’s credit and debit card dollar volume rose 9% in the network’s fourth fiscal 2011 quarter ended Sept. 30 to $516 billion from $474 billion a year earlier. Payment transactions increased 7.3% to 10.5 billion. Visa’s …
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