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With interest in so-called alternative-payments providers running high among merchants and consumers, Moneta Corp. recently announced a new management team and this week unveiled a strategy for capturing online transaction share from both bank cards and other alternative players. Speaking to Digital Transactions News, Guido Sacchi, the Atlanta-based company's newly …
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Off-eBay Volume Tops Auction Payments for the First Time at PayPal
After months of steady gains, the merchant-services portion of PayPal Inc.'s transaction volume topped the volume coming from eBay Inc auctions for the first time in the third quarter, eBay reported on Wednesday. In line with this result, the online auctioneer also reported PayPal has been adopted by 35 of …
Read More »After a Long Delay, NACHA Eyes Mid ’09 As Soonest Start for DCT
While formal bank recruitment hasn't started yet, an 18-month pilot to test the idea of transmitting check data as automated clearing house files is likely to get under way no sooner than the middle of next year, says a senior executive at NACHA, which is sponsoring the project. “[That] would …
Read More »Time Is Short, But Revolution Money Sticks to Million-Merchant Goal
Revolution Money Inc., the upstart that bills itself as merchants' low-cost alternative to the established card brands, this week announced that Murphy Oil USA Inc. is now accepting its RevolutionCard. It's a notable win for Revolution Money as Murphy has nearly 1,000 gas stations in 20 states, most located in …
Read More »Plenty of Upside for eBay in Bill Me Later Deal, Experts Say
Ebay Inc.'s $945 million acquisition of online payment processor Bill Me Later Inc., announced this week (Digital Transactions News, Oct. 6), places a powerful payment-generating tool in the online auctioneer's hands and simultaneously denies that tool to competitors like Google Inc. and Amazon.com Inc., experts tell Digital Transactions News. And …
Read More »BART Pilot Results Prove Case for Multiaccount NFC, First Data Says
Results from a pilot in San Francisco involving multiple accounts on cell phones equipped with specialized contactless-payment capability show that consumers will readily adopt such technology as a form of wallet and as a way of accessing marketing content, says an executive with the processor involved in the pilot. In …
Read More »Bill Me Later Extends eBay’s Payments Reach to Top Web Retailers
In praising online credit payment system Bill Me Later Inc. Monday morning, PayPal Inc. President Scott Thompson called Bill Me Later a “disruptive business” in the positive sense, and he credited PayPal for also being a disruptive payments player. And disruption of the status quo is quite possible with today's …
Read More »Reputation, Products, Free Terminals Rank High in ISO Selection
Not all merchants choose independent sales organizations and acquirers the same way, and when they do, they do so for widely disparate reasons, says a research report released this week by Aite Group LLC, Boston. Yet “ISOs and acquirers are not differentiating among merchants” with respect to direct marketing and …
Read More »New Version of PCI Shows More Flexibility, While PABP Takes Hold
After a summer of discussion, the Payment Card Industry Security Standards Council on Wednesday officially released Version 1.2 of the PCI data-security standard, the sweeping set of rules for protecting Visa, MasterCard, American Express, Discover, and JCB cards and transactions. Wednesday also is the first day for a Visa Inc. …
Read More »How ProPay Plans to Leverage Its Position in eBay Transactions
ProPay Inc., the only third-party payment processor chosen by eBay Inc. to handle transactions under its new all-electronic payment policy, says it is looking to the arrangement for big growth but hasn't yet worked out any projections for how much volume it will generate. “We see this as a growth …
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