Tuesday , October 15, 2019

November, 2004

  • 26 November

    Paradata Gears Up for a Major Expansion in Its U.S. Merchant Base

    Paradata Systems Inc. is getting set to build up its market share in Internet-based transaction processing in the U.S. To that end, it has added two U.S.-based transaction-processing veterans to its board and is starting to seek out larger independent sales organizations and other resellers to more rapidly expand its …

  • 24 November

    Vero Launches Network to Cut Risk of Cashing Checks for the Unbanked

    There are 25 million people in the U.S. who have a regular income but don't have a bank account, says Vero Financial Group, Lake Oswego, Ore., and now the 2-year-old company has developed a card-based, biometric system to cash checks for this market that cuts transaction time and cost while …

  • 24 November

    Between 10% and 15% of Debit Card Holders Pay PIN Fees, Says Fed

    About 14% of financial institutions that issue debit cards charge fees for PIN debit transactions, and in the past year 15% of debit card holders were subject to the fees, with somewhere between 10% and 15% of customers actually paying them. Fewer than 1% of banks, meanwhile, assess fees to …

  • 23 November

    Visa Report: Early Holiday Spending Drives Big Jumps in Transactions

    With a month to go until Christmas, holiday spending by consumers is driving double-digit increases in electronic transactions, according to the latest report from Visa USA, which is tracking spending on its cards each week from early November until early January. Total spending on all Visa-branded cards hit $23.1 billion …

  • 22 November

    Phishing Sites Multiply, Taking a Toll on Online Transaction Potential

    Recent survey statistics document a continuing rise in both phishing sites and attacks, and underline the toll such security problems are taking on consumer confidence when conducting online transactions. In its latest report, the Anti-Phishing Working Group says the number of unique Web sites engaged in phishing fraud jumped to …

  • 19 November

    AmEx’s Big Lawsuit: A Power Play Through the Banks?

    American Express Co. Inc.'s decision to include eight banks as defendants in the lawsuit it filed earlier this week against Visa USA Inc. and MasterCard International Inc. may be a power play to weaken the bank card networks by widening policy differences between the networks and their major members, some …

  • 19 November

    United Bank Card Bids for Fast Growth Through a Terminal Giveaway

    In a bid to accelerate growth in its merchant base and in its transaction volumes, United Bank Card Inc. says it will give card terminals, check readers, and signature-capture devices free to merchants signed on by independent sales organizations contracted with the Hampton, New Jersey-based processor. The company, which says …

  • 18 November

    Equifax Touts a ‘Secret Question’ Test for Online Authentication

    With concern mounting about the adequacy of commonly used authentication technologies in online transactions, a technique devised by a major credit-reporting agency to secure the sale of consumer credit reports online is finding adoption among financial institutions and could appeal to Internet merchants. Equifax Information Services LLC is actively licensing …

  • 16 November

    Discover’s Aims in Signature Debit Lie Behind Its Pulse Deal

    Discover Financial Service's Inc.'s proposed acquisition of the Pulse EFT network, announced yesterday (Digital Transactions News, Nov. 15), hands the Riverwoods, Ill.-based card company instant credibility in the business of PIN debit, but it also may propel Discover's efforts to break into the high-growth signature-debit card arena. Discover, apparently encouraged …

  • 15 November

    Discover Buys Pulse for $311 Million, Gains Major PIN Debit Position

    In an announcement with far-reaching implications for the electronic payments business, Discover Financial Services Inc. announced today it is buying the Houston-based Pulse EFT Association for $311 million “and other strategic value.” The deal, which the parties say will close by mid January pending approval from regulators and Pulse members, …

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