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Rebounding after abandoning plans to build a proprietary merchant network, the Isis mobile-payments joint venture of three leading telecommunications companies on Tuesday said it had enlisted the support of the four major general-purpose card networks in the U.S. The announcement marks an advance by the venture backed by AT&T, …
Read More »Rosy Predictions Aside, Mobile Payments Boom Still Years off, Experts Say
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Read More »Prospects Brighten for Same-Day ACH As Software Emerges And NACHA Eyes Rules
Faster clearing and settlement of automated clearing house transactions, hampered by a host of issues and limitations, could be picking up some momentum, albeit slowly. Software is emerging to allow both large and small financial institutions to take advantage of a nearly 1-year-old Federal Reserve service that clears transactions …
Read More »PayPal’s Slick New NFC-Based P2P Tech Could Be Prelude to POS Play
PayPal Inc. this week demonstrated its slick new person-to-person payments option for Android smart phones equipped with near-field communication (NFC) technology. The demo gave birth to a crop of headlines in online tech publications, but the new service may be little more than a prelude to bigger things PayPal …
Read More »Eye on EMV: UNFCU Study, Aite Survey, Jack Henry Service
n The first U.S. financial institution to introduce EMV cards, United Nations Federal Credit Union, released the results of a study along with Gemalto, the vendor of its cards. The study comes one year after the credit union launched its chip-and-PIN credit cards. As a result of the study, …
Read More »NCR Jockeys for POS Position with $1.2 Billion Deal for Radiant Systems
NCR Corp. bolstered its position at the point of sale this week by announcing a deal to buy Radiant Systems Inc. for $1.2 billion in cash. Alpharetta, Ga.-based Radiant Systems is a specialist in POS software and hardware for various merchant segments, especially the hospitality industry and specialty retailers. …
Read More »In a Surprising Twist, Reloadable Prepaid Not As Durbin-Proof As Originally Thought
Reloadable general-purpose prepaid cards, once thought to be largely exempt from the debit card interchange restrictions of the Durbin Amendment, will be covered by that law in more cases now that the Federal Reserve has issued its final rule interpreting the amendment. Some experts see the new rule crimping …
Read More »Blaming the Fed’s Durbin Rule, Tempo Payments Prepares to Shut Down
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Read More »With $5 Million Round, Mobibucks Is Latest NFC Alternative to Draw Investors
While point-of-sale payments using near-field communication (NFC) technology appear to be drawing closer, systems that let consumers make mobile payments in stores without NFC are drawing investor interest. This week, Mobibucks, a Louisville, Ky.-based startup, announced a $5 million Series A funding round led by Acadia Woods Partners. The …
Read More »Deal for Zong Hands PayPal New Funding Option for Mobile Payments
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