Automated Clearing House

Capital One Financial Corp. ended a pair of merchant pilots involving its decoupled debit card product because the tests were scheduled to end, a spokesperson for the financial-services company tells Digital Transactions News. “They were initiated as pilot programs and they've run their course. That's it,” says the spokesperson in …

NACHA's online-payments pilot went live March 31 with one bank and one merchant and expects to have three to five more financial institutions, three to five more merchants, and between three and five billers participating by the end of the year, an official with the Herndon, Va.-based organization says. “The …

A veteran of previous efforts to turn driver's licenses into payment cards is working with the operator of an online consumer-loyalty network on a plan intended to introduce automated clearing house transactions tied to shoppers' driver's licenses at brick-and-mortar stores by 2009. Linda Bryant, who has formed a processor called …

It's the new, old payment system. That's essentially how an electronic-payments startup called eLayaway LLC is billing itself as it prepares for bigger things following two years of testing and a low-key rollout to merchants and consumers. Tallahassee, Fla.-based eLayaway's slogan is “credit is overrated.” Its system allows consumers, once …

Implementation of the controversial Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) would be prohibited under new legislation introduced in the U.S. House of Representatives earlier this month. The UIGEA bans gaming sites from accepting money transfers of any kind for bets deemed to be unlawful gambling. It also directs …

It grew 267% in just one quarter, yet the new back-office conversion (BOC) electronic-check code still isn't getting any respect. But it will, according to officials at NACHA, governing body of the automated clearing house network. NACHA reports that the ACH handled 3.08 million BOC transactions in 2007's fourth quarter …

Three months after biometrics-technology provider and payment processor Pay By Touch sought protection in U.S. Bankruptcy Court in Los Angeles, the dismantling of the firm’s sprawling empire is largely over. Judge Thomas B. Donovan recently approved the sale of the core assets of Solidus Networks Inc.—the formal name of Pay …

Retailers haven't exactly clamored to implement the new back-office conversion electronic-check option (BOC), but adoption will pick up, according to the Federal Reserve's point man on electronic payments. “It's slower than what many of us thought,” Richard Oliver, executive vice president of the Federal Reserve Bank of Atlanta and the …

One year after its launch, an option that lets merchants deposit checks electronically in centralized locations by converting the paper items into automated clearing house debits is growing more slowly than expected, according to a payments executive who led the effort to write the rules for the new option. Back-office …

Companies that accept checks and electronic payments were victimized by fraud at virtually the same rate in 2007 as in 2006, but those that experienced fraud saw more incidents of it, according to a survey by the Association for Financial Professionals released this week. The Bethesda, Md.-based AFP is a …