Digital Transactions Authoritative, insightful and timely information for payments professionals
The Internal Revenue Service is delaying for a year its planned withholding requirement for payment-card-accepting merchants whose names and taxpayer identification numbers (TINs) supplied by their merchant processor do not match the corresponding information the IRS has on file, the Electronic Transactions Association reported to its membership today. The delay …
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VeriFone Launches a Tablet POS Platform for ISOs It Sees Getting Squeezed by Tech Vendors
By John Stewart n Independent sales organizations are starting to feel squeezed by technology companies selling tablet-based point-of-sale solutions to merchants, according to terminal kingpin VeriFone Systems Inc. So VeriFone on Wednesday rolled out a tablet-based platform for its resellers that they can price and market to their merchants. n …
Read More »Almost Battle-Ready With New Products, VeriFone Tries To Recover Lost Business
VeriFone Systems Inc. continued on its road to recovery during its third quarter of fiscal 2013 ended July 31, a road that led the leading U.S. point-of-sale terminal maker through a sharp drop in revenues in some countries and ended with a $1.9 million loss versus a $37.7 million …
Read More »Isis Adds Specialty POS Equipment Providers As It Readies Its National Rollout
By Jim Daly The Isis mobile-payments service on Wednesday said five specialty point-of-sale hardware makers would integrate Isis’s SmartTap technology into their products. The companies join a number of major POS terminal makers, including U.S. market leaders VeriFone Systems Inc., Ingenico S.A. and Equinox Payments, already committed to supporting Isis …
Read More »Microsoft’s Nokia Deal Leaves Open Questions About Market Share And NFC
Microsoft Corp.’s $7.2 billion acquisition of Nokia Corp.’s handset business, announced late on Monday, brings to the Redmond, Wash.-based tech giant a pioneer in near-field communication technology and allows it to combine hardware with a mobile operating system in the manner of rivals Google Inc. and Apple Inc. It remains …
Read More »The Gimlet Eye: Here Comes the Judge
The events unleashed by U.S. District Judge Richard J. Leon’s seismic decision at the end of July have not completely unfolded as we write. More hearings are yet to be held, and the Federal Reserve has until the end of the month to decide whether to appeal. But one thing …
Read More »Trends & Tactics
NFC Stalwart Isis Preps for a Rollout Isis, the smart-phone-based payments machine owned by three big mobile-telecommunications carriers, has stuck with near-field communication (NFC) through thick and thin while other mobile-payments providers have either avoided the high-powered but demanding technology altogether—think PayPal—or scaled back their commitment to it—think Google Inc. …
Read More »Acquiring: ISOs Enter the Age of Regulation
Linda Punch Time was, regulators largely left independent sales organizations and other acquirers alone. Now, with a trio of major enforcement actions, the Federal Trade Commission is showing how those days are over. For entities that play such a key role in the acquiring industry, independent sales organizations have led …
Read More »Cover Story: Wall Street Pulls the Strings
Banks remain key clients, but ultimately Visa and MasterCard must serve the interests of major investors. Can they pull that off while warring with merchants over fees?By Peter Lucas Former Visa Inc. chairman and chief executive Joe Saunders couldn’t have been happier on March 19, 2008, when the day’s trading …
Read More »Networks: UnionPay’s Play for U.S. Business
By Jane Adler The Shanghai-based payments powerhouse has cut deals with players like Discover and FIS to boost issuance and acceptance share. Meanwhile, U.S. companies’ welcome in China isn’t so warm.Get ready. China’s giant payments network UnionPay is about to launch its first card for American consumers, marking a further …
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