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MasterCard announced today its test of contactless chip cards in Orlando, Fla., was encouraging enough for the card company to roll it out to all members as a feature on MasterCard credit, debit, and stored-value cards. The company expects the expansion to begin next summer with the addition of new …
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Duane Reade Gives Debitman a Tonic As the Card’s Latest Issuer
Duane Reade Inc., a chain of 241 drugstores in New York City, will on Monday become the fourth and so far the largest issuer of the Debitman card, a non-bank, national electronic payment system started last year by a group of payments veterans with roots in the retailing business. Duane …
Read More »Micropayments Could Hit 10% of All POS Transactions
Transactions amounting to $10 or less could potentially amount to at least 10% of all point-of-sale payment transactions processed annually in North America, a bonanza of transaction volume that goes a long way toward explaining why giant card companies and small startup processors alike are chasing the so-called micropayments market. …
Read More »A Fingerprint Check System Rolls Out with BI-LO
BioPay LLC has reached agreement with BI-LO, a major supermarket chain concentrated in the Southeast, to make its biometrics-based paycheck authentication service available in 176 of the chain's 300 stores. The system is expected to be operating by Thanksgiving at stores in Georgia, North Carolina, South Carolina, and Tennessee. When …
Read More »Payment Veterans Set Their Sights on Training ISO Agents
A new organization focused on training for merchant-level salespeople now has its Web site live and is looking toward its first seminar in Dallas Nov. 15, which it expects will draw 100 to 150 attendees. The Mountain Home, Ark.-based Institute for Payment Professionals, formed this fall by industry veterans Paul …
Read More »Early Results Look Good for AmEx’s RF Payment Pilot
American Express Co.'s experiment with contactless payment based on keyfobs in and around Phoenix, in progress since July, is expanding into more locations and apparently meeting with merchant and consumer approval. The ExpressPay program, which puts small keychain fobs in the hands of consumers instead of plastic cards, relies on …
Read More »A Cryptographer Says He Holds the Key to a Digital Currency
The dream of a digital currency, a form of money invented just for electronic transactions and just as anonymous as cash in the physical world, is at least as old as the original concept of the Mondex smart card 10 years ago. Next came Cybercash, Digicash, Beenz, Flooz, and others. …
Read More »Another Micropayment System Gets Ready for Rollout
The rising number of online content providers is provoking a steady stream of startups looking to facilitate payment of small fees for everything from ringtones to comics to newsletter items and songs. One of the latest is Palo Alto, Calif.-based Bitpass, which is in it the beta stage of attracting …
Read More »Could Debit Start Trending Toward PINs?
While First Data Corp. vows to contest action by the Department of Justice to stop its acquisition of Concord EFS, industry observers say the Denver-based processing giant may have good reason to fight for a stronger position in the market for debit transactions secured by personal identification numbers. The $7.3 …
Read More »U.S. Justice Department Blocks First Data-Concord Merger
Arguing that the transaction would stifle competition in the market for transactions secured with personal identification numbers, the Department of Justice filed suit today to stop a proposed $7.3 billion acquisition of Concord EFS by First Data Corp. Officials of Justice's antitrust division argued that the merger would weaken competition …
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