Digital Transactions Authoritative, insightful and timely information for payments professionals
Despite tests and innumerable press releases, the number of payment transactions from cell phones barely registers. But payments from mobile devices are about to take off thanks to a convergence of factors on the demand and supply side, according to a new report from Yankee Group Research Inc. The “Dialing …
Read More »Search Results for: digital payments
Price Tag for End-to-End Encryption: $4.8 Billion, Mercator Says
Demand is booming for better payment card security as a result of the many data breaches of recent years, and the solution being touted more than any other is “end-to-end encryption.” But a new report from Mercator Advisory Group Inc. asserts that the term is imprecise and implementing the technology …
Read More »Acquiring Deal with BofA Lets First Data Renew Its Alliance Model
Bank of America Corp. and processor First Data Corp. launched a merchant-acquiring joint venture Monday, a move that marks the third major change in BofA's acquiring business in five years. First Data will own 48.5% of the new Atlanta-based Banc of America Merchant Services LLC. BofA will own 46.5%, and …
Read More »Bling Nation’s Community Payment Platform Goes Live in Colorado
Bling Nation Ltd., which late last year unveiled a private-label payment network intended for local transactions (Digital Transactions News, Nov. 19, 2008), this week announced it has signed up its first financial institution and has been processing transactions for it in Colorado. The State Bank, La Junta, went live on …
Read More »One to Many: Visa Gets a Single Connection to Multiple Carriers
Visa Inc. has a struck an agreement with NeuStar Inc., a key player in the wireless telecommunications industry, that could enable financial institutions to develop more payment services for mobile devices. Created in 1998, Sterling, Va.-based NeuStar plays a unique role in the phone business. It acts as a neutral …
Read More »CashEdge Unveils a P2P Service To Be Controlled by Banks
The person-to-person payment business, which has attracted a number of new players already this year, grew more crowded on Tuesday with the announcement by CashEdge Inc. that it will launch a service later this year. Executives with New York City-based CashEdge, which specializes in supporting online account opening and account-to-account …
Read More »With a New PIN Pad, First Data Promotes Contactless to Merchants
PIN-debit cards and contactless acceptance seem like two unlikely electronic-payment services to promote in one point-of-sale device, but that's exactly what First Data Corp. is doing with the latest addition to its FD line of POS hardware. The big processor's goal with the new FD-30 PIN pad: build future demand …
Read More »MasterCard Launches Mobile MoneySend for U.S. P2P Transactions
MasterCard Inc. on Wednesday announced its person-to-person payment service for mobile phones has launched in the U.S. with one issuer on board and an untold number waiting in the wings. The card network's Mobile MasterCard MoneySend service, which has been in the works for at least a year (Digital Transactions …
Read More »The Banking System Scrambles Toward IAT’s September Launch
With the deadline just three months away, the banking industry is scrambling to implement IAT, the new automated clearing house code for international transactions. IAT originally was to take effect March 20. But NACHA?The Electronic Payments Association, governing body of the ACH, last July pushed it back to Sept. 18, …
Read More »Boku Debuts to Exploit Markets in Social Networks And Games
Micropayments may have failed in previous attempts, but the idea of processing tiny transactions is enjoying new life in mobile payments. The latest example lies in the announcements made on Tuesday by Boku Inc. that it has acquired two rivals and is launching its worldwide service to allow handset users …
Read More »