Digital Transactions Authoritative, insightful and timely information for payments professionals
Nearly nine months after introducing a rule requiring recipients of Social Security and certain other benefits to switch from checks to electronic deposit, the U.S. Treasury Department says the number of check recipients has dipped below 9 million for the first time in decades. The agency is now in …
Read More »U.S. Bank Adds to the Roster of Secure Vault Payments Acceptors
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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 »Blaming the Fed’s Durbin Rule, Tempo Payments Prepares to Shut Down
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Read More »In a P2P Play, Fiserv Snaps up CashEdge for $465 Million in Cash
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Read More »S1, Fundtech Agree to Merge in Deal That Hinges on ‘Transaction Banking’
n In the merger, Fundtech shareholders will receive 2.72 shares of S1 common stock for each Fundtech share, leaving S1 shareholders with a 55% stake in the combined entity. The new company will be rechristened Fundtech Corp. and will be based at S1’s headquarters in Atlanta. Reuven BenMenachem, chief …
Read More »Wells, BofA Walk Away from Pariter, Their Joint ACH Processing Platform
Three years after introducing a joint venture aimed at processing automated clearing house transactions between the two banks, Wells Fargo & Co. and Bank of America Corp. have abandoned the operation, which they called Pariter. “It will shut down over the next few weeks,” a Wells spokesperson tells Digital …
Read More »A Private Investment Firm Picks up Regulus, J&B for $137 Million
In a deal that underscores the growing importance of electronic billing and presentment, New York City-based private-investment firm Cerberus Capital Management has agreed to buy the Regulus and J&B Software payments units from India-based 3i Infotech Ltd. The deal, valued at $137 million, is expected to close within about …
Read More »Secure Vault Payments Will Go Mobile Later This Year with Bar Codes, Exec Says
Secure Vault Payments will announce a mobile application next month for the U.S. market, a top executive with the online-payments service tells Digital Transactions News. The mobile application, which will work on Apple, Android, and BlackBerry smart-phone systems, will start with a pilot in the fall and be in commercial …
Read More »Common in Acquiring, Sharing of Bad-Merchant Data Comes to the ACH
Taking a cue from bank card merchant acquirers, bank processor Fidelity National Information Services Inc. (FIS) and NACHA on Monday announced the formation of the Terminated Originator Database, a new service to help banks identify businesses that other banks have cut off from originating automated clearing house transactions because of …
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