Digital Transactions Authoritative, insightful and timely information for payments professionals
In an effort to reach very small online merchants seeking a streamlined way to process payments, Authorize.Net on Tuesday unveiled a service it calls Simple Checkout. The new service allows the merchant to use a Web interface to automatically create the code necessary to place a “Buy Now” button on …
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How Mobile Candy Dish Combines Handset-Based P-to-P with NFC
A 3-year-old startup in Alameda, Calif., is introducing a mobile wallet that combines contactless payments based on near-field communication (NFC) technology with person-to-person payments and mobile banking. Mobile Candy Dish Inc. last week rolled out its Blaze Mobile Wallet, which works on the AT&T Mobility and Sprint Nextel wireless networks …
Read More »Bigger Volume Jumps Are in Store for BOC E-Checks, NACHA Says
It grew 267% in just one quarter, yet the new back-office conversion (BOC) electronic-check code still isn't getting any respect. But it will, according to officials at NACHA, governing body of the automated clearing house network. NACHA reports that the ACH handled 3.08 million BOC transactions in 2007's fourth quarter …
Read More »Terminal Maker VeriFone Steps into the Busy Data-Security Arena
VeriFone Holdings Inc., a major terminal manufacturer, is entering the burgeoning business of card-data security with a product it says will secure cardholder information from the instant the card is swiped. The product, VeriShield Protect, was announced on Wednesday and encrypts mag-stripe data and the personal account number for the …
Read More »Pay By Touch Fades into History As Lenders Buy Core Assets
Three months after biometrics-technology provider and payment processor Pay By Touch sought protection in U.S. Bankruptcy Court in Los Angeles, the dismantling of the firm’s sprawling empire is largely over. Judge Thomas B. Donovan recently approved the sale of the core assets of Solidus Networks Inc.—the formal name of Pay …
Read More »Discover Triples Its Acceptance Network with Diners Club Deal
Seemingly trapped in North America after shedding its money-losing British credit card operation in March, Discover Financial Services LLC suddenly is a global payments player with its pending deal to buy Diners Club International from Citigroup Inc.'s Citibank N.A. for $165 million in cash. The deal adds 8 million merchant …
Read More »ATM Direct’s New Bosses Say They Will ‘Own’ PIN Debit Online
PIN debit on the Internet may become a commercial reality in 2008 if the small Atlanta company that bought ATM Direct from the bankrupt Pay By Touch Inc. fulfills ambitious plans it has laid out for the processor. Over the course of the next 90 to 120 days, ATM Direct …
Read More »Obopay Moves to Allow Direct Payments from User Checking Accounts
In a move that it hopes will attract more users to its mobile-payments product, Obopay Inc. is allowing account holders to send money to other persons directly out of their checking accounts. In a further change, recipients of these transfers no longer need to have Obopay accounts and may have …
Read More »New P-to-P Service for Underbanked Looks to Launch M-Wallets
A handset-based service announced on Tuesday and aimed at allowing underbanked consumers to send money to individuals both in and outside the U.S. through Western Union locations could incorporate mobile wallets by the end of the year. That development would allow users of Trumpet Mobile, a reseller of prepaid wireless …
Read More »Pay By Touch Selling Merchant Business to Merrick for $2 Million
After first trying to sell its merchant-processing business as a single unit, bankrupt Solidus Networks Inc., which does business as Pay By Touch, is expected to sell half of it to a big Utah-based merchant acquirer, Merrick Bank Corp., for $2 million, according to documents filed in U.S. Bankruptcy Court …
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