Digital Transactions Authoritative, insightful and timely information for payments professionals
Visa Inc.'s current slogan is “Life Takes Visa,” but now it's “Wall Street Takes Visa.” After raising a record $17.3 billion late Tuesday by pricing its initial public offering of stock at $44 per share, above its target range of $37 to $42 per share, Visa's stock opened on the …
Read More »Search Results for: digital payments
Mobile P2P ‘Could Take off in a Hurry,’ Researcher Notes
Not only do mobile payments between individuals constitute a strong market opportunity in themselves, but they also lay the groundwork for mobile payments to merchants, according to James Van Dyke, founder and principal of Javelin Strategy & Research, which this week released a research report on the mobile person-to-person (P2P) …
Read More »New Metavante Software Aims to Ease Banks’ Way into NACHA Pilot
Metavante Corp. on Tuesday announced software that the Milwaukee-based processor and NACHA, the rules-setting organization for the automated clearing house network, say will make it possible for more banks to participate in a new online payment product NACHA plans to start piloting in less than a month. “This [software] is …
Read More »Overstock.com Says PayPal Yields Triple Expected Volume
Online merchants implementing payment alternatives to bank cards are beginning to report significant results. Since it started to accept PayPal in November, for example, online closeout retailer Overstock.com Inc. has seen the alternative payment method soar to 10% of its revenues and 12% of its orders, according to Alan Johnson, …
Read More »Following Citi Mobile, Bank Giant Forms Global M-Banking Venture
Less than a year after launching a commercial, handset-based banking and bill-payment program in the U.S., Citigroup Inc. announced it is working with a major South Korean telecommunications company to offer mobile banking around the world. The San Francisco-based joint venture, Mobile Money Ventures LLC, will be equally owned by …
Read More »Pay By Touch Auctions off ATM Direct, BioPay Paycheck Secure
Bankrupt Solidus Networks Inc. has sold two of the three major subsidiaries that it identified this winter as non-core assets, Digital Transactions News has learned. Next up is a March 14 auction of the core biometrics payment business of Solidus, which does business as Pay By Touch. On Thursday, a …
Read More »‘Friendly Fraud’ Grows Worse, But Chargebacks Winnable, Expert Says
A problem the electronic payments industry calls “friendly fraud,” which has long dominated chargebacks for online sellers of digital goods from songs to software, is getting worse for these merchants, according to the top executive of a payments processor specializing in this market. Gene Hoffman, chairman and chief executive of …
Read More »M-Commerce Spawns New Forms of Money Laundering, U.S. Warns
The rise of mobile phones in South Asia, Africa, and Latin America is bringing many benefits to lesser-developed countries, but the simultaneous rise of mobile banking is creating new opportunities for money laundering, according to a report released Friday by the U.S. Department of State's Bureau of International Narcotics and …
Read More »Visa Filing Confirms Heavy Investment in Merchant And Issuer Incentives
Recent research by Aite Group LLC estimated the Visa and MasterCard bank card networks paid nearly $5 billion to merchants and card issuers between 2005 and 2007 to spur acceptance or issuance of their respective brands (Digital Transactions News, Feb. 20). Visa Inc.'s latest registration statement, filed Monday in advance …
Read More »Smart Card Marketing, HomeATM Enable PIN Debit Online, at Stores
In a move that could further the penetration of Internet-based PIN debit, a San Antonio-based processor of prepaid card transactions has adopted a device that will allow users of its electronic-wallet service to load their accounts online with credit cards and PIN debit cards. Smart Card Marketing Systems Inc., which …
Read More »