Wednesday , September 19, 2018

News

February, 2006

  • 9 February

    SVPCO: Costly IRDs Are Now Just 20% of Image-Exchange Volume

    When the Check Clearing Act for the 21st Century (Check 21) went into effect in October 2004, experts predicted it would be years before banks weaned themselves from the so-called image-replacement documents provided for in the law. These IRDs are paper printouts of check images that travel the last mile …

  • 8 February

    A Processing Exec Outlines Practical Steps to Save on Interchange

    Merchants upset about interchange pricing may or may not ultimately prevail in their pending litigation against the bank card networks, but any outcome is likely to be years away. For now, there are practical steps retailers and service providers can take to cut acceptance costs, an executive with a major …

  • 7 February

    SVPCO Reports Another Month of Steady Build in Image Volume

    The promise of Check 21 may be unfolding more slowly than enthusiasts would like, but the country's largest image-exchange network recorded another gain in volume in January. New York-based SVPCO, part of the The Clearing House Payments Co., which is owned by many of the nation's largest banks, handled 13.9 …

  • 6 February

    Pay By Touch Enters the Race to Offer Payments to Web Merchants

    Pay By Touch Solutions, which has spent the past several years building out a point-of-sale network for its biometric-payment service, is now joining the rush to bring electronic payment alternatives to the Internet. Its new Pay By Touch Online product, which it is announcing today, is set to go live …

  • 3 February

    Retailers’ Interchange Suits May Help AmEx More Than Merchants

    Merchant litigation against bank card interchange may end up benefiting bank card network competitors like American Express Co. more than retailers, a Wall Street analyst who has followed the interchange controversy cautioned this week. If successful in forcing Visa USA and MasterCard International and their members to cut interchange rates, …

  • 2 February

    Interchange Cases To Yield Consolidated Complaint in 60 Days

    A consolidated complaint arising from some 47 interchange lawsuits filed by merchants and merchant groups against the bank card associations over the past seven months will likely emerge within 60 days, with certification of a class coming by fall, a lawyer representing some of the merchants said today. The various …

  • 1 February

    Top Exec at the New Chase Paymentech Sees Smooth Transition

    With the melding of Chase Merchant Services and Paymentech L.P. going smoothly as the new Chase Paymentech Solutions LLC, boss Michael P. Duffy foresees his giant merchant-acquiring firm doing more than $600 billion in charge volume this year. In an interview for a story to appear in Digital Transactions' March …

January, 2006

  • 31 January

    SMS-Based Promotions Fuel Grocer’s Interest in Cell-Phone Payments

    Four months after introducing a marketing system that communicates with customers' mobile phones, Broadway Marketplace has had such positive sales results its top executive says the Cambridge, Mass.-based supermarket will add an electronic payment function within the next two months. The store, which last September began using a service called …

  • 31 January

    Seeking More Issuers, Debitman Finds Two Among the Supermarkets

    Debitman Card Inc., which has been seeking issuers for its PIN debit processing network, announced two this week. Binghamton Giant Markets Inc. and HAC Inc., both regional supermarket chains, have agreed to issue cards on Debitman's network. HAC, which runs 67 stores in Oklahoma and Kansas, has begun issuing Debitman …

  • 31 January

    Citi Will Issue Contactless Tokens for N.Y. Mass Transit Test This Spring

    Citigroup Inc.'s Citibank, which last year announced it would issue contactless tokens linked to customers' credit and debit card accounts in the New York metropolitan area, is now allowing those devices to be used in a test of radio-frequency-based electronic fare payments by the Metropolitan Transit Authority's MTA New York …