Digital Transactions Authoritative, insightful and timely information for payments professionals
Image-exchange networks and the financial institutions that use them to process checks electronically may have to contend with a dwindling supply of checks sooner than they expected. For the time being, the networks are doing a robust business, with the volume of items expected to more than quadruple this year, …
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Now Independent, Discover Looks to Grow Issuing, Acquiring, Debit
Discover Financial Services LLC, whose shares began trading on Monday on the New York Stock Exchange, is finally on its own as a corporate entity for the first time in its 22-year- history. But while the spin-off from parent company Morgan Stanley is complete, Discover's mission of gaining market share …
Read More »With Coghlan Out, Will Merchant Focus Survive at Visa?
Now that the two top executives have been appointed to run Visa Inc., the massive entity that will emerge from a sweeping restructuring of the worldwide Visa organization, payments observers see more capability in place to deal with issues to come. But the departure of Visa USA head John Philip …
Read More »Another Rival for NACHA?with an International Flair
Internet payments company Saf-T-Pay Corp. is about to roll out a system that taps consumers' demand-deposit accounts and bears similarities to those being promoted by NACHA?The Electronic Payments Association and tech company MODASolutions Inc. But Miami Beach, Fla.-based Saf-T-Pay says it has an easy-to-use solution that already is gaining credibility …
Read More »How TransFirst’s New Boss Sizes up the Processor’s Opportunities
Former First Data Corp. executive John Shlonsky, who took over this week as president and chief executive of TransFirst LLC, says he plans to lead the Dallas-based transaction processor into a wide array of new markets with backing from the company's new owner, private-equity firm Welsh, Carson, Anderson & Stowe. …
Read More »Verizon Deal Lends Impetus to Obopay’s M-Commerce Drive
Obopay Inc. on Thursday announced four new businesses for its mobile-commerce application, bringing to six the number of companies using the Redwood City, Calif.-based processor's service to enable payments via handsets. The news follows Verizon Communications Inc.'s decision to adopt Obopay's application for mobile payments on its wireless network, which …
Read More »Seeking More Revenue, Big Banks Get Set to Roll out 11th-Hour Bill Pay
Financial institutions seem likely to give expedited bill payments a big boost in the coming two years, according to survey results released today by Boston-based Aite Group LLC. In a March survey of 22 of the nation's top 100 banks, credit unions, and thrifts ranked by number of checking accounts, …
Read More »PropertyBridge Brings PIN-less Debit to Residential Rent
PropertyBridge Inc., which handles electronic rent payments on behalf of property managers, plans to launch next month a recurring PIN-less debit option. It is processing some PIN-less transactions now in a test, or so-called “beta,” mode, for an unnamed property-management firm, says Jason Gardner, president of the Oakland, Calif.-based company, …
Read More »Targeting eBay Ban, Google Checkout Plans Party to Reach Sellers
Looking to stir up support for its Checkout online payment system among sellers on eBay Inc.'s online marketplace, Google Inc. will throw a party Thursday night in Boston during a three-day convention eBay is hosting for its buyers and sellers. The party, themed “Let Freedom Ring” and to be held …
Read More »Cardtronics’ Latest ATM Deal Hands 7-Eleven a Hefty Payoff
The agreement by Cardtronics Inc., the nation's largest ATM operator, to buy 7-Eleven Inc.'s entire U.S. fleet of 5,500 ATMs and Vcom multi-function kiosks hands the convenience-store chain a hefty return on its ATM investment while expandng Houston-based Cardtronics' network of machines by about 20%. The approximately $135 million cash …
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