Digital Transactions Authoritative, insightful and timely information for payments professionals
While the payments industry awaits stringent new rules concerning debit card transactions, some processors and technology players are starting to exploit what they see as opportunities in the new regulations. Acculynk Inc., for example, released last week a statement calling on Internet merchants to sign up now for online PIN …
Read More »Search Results for: digital payments
Congress Again Considers Legalizing Online Gambling
n U.S. Rep. Joe Barton, R-Texas, is drafting legislation that would legalize Internet poker, a spokesperson tells Digital Transactions News. “This is a poker-only bill,” the spokesperson says. “He [Barton] looks at poker as a game of skill, not a game of chance, and that’s why it should be …
Read More »Huntington Plans to Keep Upgrades Coming at a Fast Clip for New Mobile Service
n Dennes, who joined Huntington in September after helping to launch a popular mobile-capture application at USAA Federal Savings Bank, says the bank has “interest” in a point-of-sale payments capability, likely based on near-field communication (NFC) chips. Visa Inc., MasterCard Inc., Google Inc., and a carrier-led joint venture called …
Read More »PCI Council Issues Virtualization Guidelines, Still Crafting Mobile Rules
n n n n n n n n n n
Read More »DoJ Should Have Pushed Harder on Steering Settlements, Some Merchants Say
The U.S. Department of Justice filed court documents Tuesday that move toward completion its challenge of Visa and MasterCard network rules limiting merchants’ ability to steer customer payments toward their preferred forms. Tuesday’s action is largely procedural as Visa Inc. and MasterCard Inc. announced settlements when the DoJ and seven …
Read More »Unfazed by Latecomers Like Square And Intuit, Inner Fence Soldiers on
n n n n Inner Fence refers applicants to its ISO partner, Dublin, Ohio-based Merchant Focus Inc., for merchant accounts. The service uses the Authorize.net gateway for access to the payment networks. Merchants pay a $25 monthly fee, plus 24 cents and 1.74% to 3.79% of the sale, depending …
Read More »Visa Announces Deal with Monitise for Mobile Service Tied to Debit, Prepaid
Visa Inc. on Thursday cemented into place two more pieces of a developing strategy for what is rapidly turning into a hotly competitive market for mobile payments. The world’s largest card network announced it had struck an agreement with Monitise PLC, a U.K.-based provider of mobile services for financial …
Read More »An Amendment To Delay the Durbin Amendment Comes Up Short
Defenders of the debit card interchange status quo saw their last, best hope to delay draconian Federal Reserve regulations from taking effect go down to defeat Wednesday afternoon. An amendment in the U.S. Senate that would have delayed the Fed’s rules died on a 54-45 vote, six shy of the …
Read More »Bling Nation’s Pause to Retool Likely to Leave It Behind Rivals
Slow acceptance among merchants and consumers appears to be the underlying cause for Bling Nation’s decision to suspend operation of its PayConnect and FanConnect mobile services. Palo Alto, Calif.-based Bling said earlier this week that it is pausing operations to retool its services in response to feedback from merchants …
Read More »Wells, BofA Walk Away from Pariter, Their Joint ACH Processing Platform
Three years after introducing a joint venture aimed at processing automated clearing house transactions between the two banks, Wells Fargo & Co. and Bank of America Corp. have abandoned the operation, which they called Pariter. “It will shut down over the next few weeks,” a Wells spokesperson tells Digital …
Read More »