Sunday , May 27, 2018

News

August, 2004

  • 19 August

    TowerGroup: Banks Have Hiked Spending to Roll out Super ATMs

    Banks are getting set to unveil revamped fleets of ATMs equipped with the latest technology and able to perform a wide range of advanced transaction functions, such as truncation of check deposits. That's according to a new report from Needham, Mass.-based consultancy TowerGroup, which says large banks in the U.S. …

  • 18 August

    With AmEx Deal, 7-Eleven Becomes an ATM Networking Power

    7-Eleven Inc., the nation's largest convenience-store chain, has acquired the ATM network deployed in its stores from American Express Co. for $44 million. The network connects some 5,483 machines in stores owned, franchised, and licensed by Dallas-based 7-Eleven. The acquisition positions the chain as a major player in electronic funds …

  • 18 August

    Report: Australian Merchants Don’t Pass on Interchange Savings

    Retailers who object to current levels of interchange fees on electronic transactions often argue the levy forces them to charge consumers more for goods in their stores, driving up prices and penalizing customers. But a recent report out of Australia undercuts that argument. It finds that prices did not decline …

  • 18 August

    RFID Scores a Coup with McDonald’s’ Adoption of PayPass

    Card transactions based on radio-frequency technology got a major boost today with the rollout of MasterCard International's PayPass system to some 715 McDonald's Corp. restaurants in New York, Dallas, and Orlando, Fla. The stores will go live with PayPass later this year, MasterCard says, and an undisclosed number of further …

  • 17 August

    Pay By Touch: Another Store Signs Up, Along with Discover

    Pick 'n Save Metro Market, a supermarket in downtown Milwaukee, today began accepting transactions secured by Pay By Touch, a San Francisco-based company that authenticates payments through digital representations of customers' fingerprints. This development comes shortly after the announcement of a co-marketing agreement between Pay By Touch and Discover Financial …

  • 16 August

    Keynote Will Test Credit Card Sites as Cardholders Move Online

    With an increasing number of consumers checking credit card statements and paying bills online at credit card issuers' Web sites, Keynote Systems Inc., San Mateo, Calif., announced it will begin measuring the speed and reliability of nine sites as part of a benchmarking index. The company, which specializes in measuring …

  • 16 August

    NYCE’s New President Optimistic Despite Fierce EFT Competition

    As he prepares to take the reins from Dennis F. Lynch as president of the NYCE electronic funds network, Steven A. Rathgaber says the Montvale, N.J.-based network's acquisition by Milwaukee-based Metavante Corp. will help it weather what is probably the fiercest competition the online debit business has ever faced. “Dennis …

  • 11 August

    Interchange Fair Payment for Value, Visa and Others Contend

    Defenders of interchange for electronic credit and debit transactions argue merchants are losing sight of the value interchange pays for. The subject of interchange has become hotly contested in the wake of lawsuits by retailers challenging it or aspects of it, and following recent interchange hikes by the bank card …

  • 11 August

    With Gateways Under Pressure, Authorize.net Tries to Reinvent Itself

    As transaction processors add services to their basic product, they put increasing pressure on gateway providers to differentiate themselves. One of the most ambitious strategies for differentiation is being pursued by Authorize.net Inc., acquired this spring for $82 million by Lightbridge Inc., a Burlington, Mass.-based provider of billing and fraud-management …

  • 10 August

    Moneris Introduces Check Conversion to Complement Credit, Debit

    Moneris Solutions U.S. Group, Chicago, has rolled out a check-conversion and check-authorization service for merchants at the point of sale that combines with the processor's credit and debit card product. The company says it is introducing the new offering to round out its arsenal of processing services for merchant clients …