Wednesday , March 21, 2018


July, 2004

  • 1 July

    Official Payments Rolls out E-Checks for Government Transactions

    Official Payments Corp., a Stamford, Conn.-based processor that specializes in payments to government entities, has announced it is now processing electronic checks on the Internet, with settlement through the automated clearing house. The company, which quietly began the service in December and is now trafficking e-checks for 34 government agencies, …

  • 1 July

    The Clearing House, SVPCo., And Related Companies Merge

    Six New York-based payments businesses, including The Clearing House, a check-settlement processor, and Small Value Payments Co. (SVPCo.), an electronic transaction processor, will be merging over the next 12 months into a single company, The Clearing House announced today. The merger, which has been in the planning process for the …

June, 2004

  • 29 June

    Visa Credits Surge in Web Volume to Its Authentication Program

    Visa U.S.A. reported today that the dollar volume of transactions occurring on its cards on the Internet through the first five months of 2004 is running ahead of the gain seen in calendar 2003. Through May 31, Visa's e-commerce volume on credit and debit cards jumped 59% over the year-ago …

  • 29 June

    A New NACHA Rule Would Combat Returns on All ACH Debits

    The national network for the automated clearing house system is sifting through comments on a new rule that would levy fines on banks that fail to reduce return rates to below 1% for all client originators and for all categories of ACH transactions. Within a week or so, says the …

  • 28 June

    Peppercoin Aims at the POS As Well As Digital Content with Version 2.0

    In an ambitious effort to capture a share of the rapidly expanding markets for both digital content and goods at the point of sale, micropayments processor Peppercoin Inc. today is announcing a second generation of the payments model it introduced commercially only last December. Considerably revised, the Waltham, Mass.-based company's …

  • 24 June

    Free Service Is Lighting a Fire Under Online Bill Payment

    The movement among banks to waive or eliminate consumer fees on electronic bill payment is rapidly pushing the transaction channel into the mainstream of consumer payment products, according to the chief executive of Online Resources Corp. “Free works,” declared Matthew P. Lawlor, who is also chairman of the McLean, Va.-based …

  • 23 June

    Consumer Groups Call on Fed to Extend Reg E to Payroll Cards

    The rapid growth of the market for stored-value cards issued to employees in lieu of paychecks has prompted a wide array of consumer and labor groups to petition the Federal Reserve Board to extend to payroll cards the consumer protections of the Electronic Funds Transfer Act. In a letter sent …

  • 22 June

    Key Reaches 100 in Agent-Bank Contracts for Its ATM Network

    Keycorp, Cleveland, announced today it has signed the 100th contract in its agent-bank program for its ATM network. The contract, with Workman's Circle Credit Union, Cheektowaga, New York, calls for the institution's customers to have access to 289 Key ATMs in the state of New York. Under Key's agent-bank program, …

  • 22 June

    Electronic Payments Boost Growth in Canada by 25%, Report Shows

    Making transactions more efficient has long been a driving force behind the conversion of paper-based to electronic systems, but now a new report shows how efficiencies derived from electronically processed payments contribute to a national economy. The report, entitled “The Benefits of Electronic Payments in the Canadian Economy,” was released …

  • 21 June

    MasterCard’s Wal-Mart Deal Could Fuel Non-Bank PIN Debit

    Today's announcement by Wal-Mart Stores Inc. that the chain will begin accepting MasterCard International's signature-based debit card again, effective immediately, could spark more interest in non-bank debit networks among small and mid-size retailers, according to some expert observers. Although Wal-Mart and MasterCard refused to disclose terms of their agreement, it …