Digital Transactions Authoritative, insightful and timely information for payments professionals
Somewhere, Carl Icahn is smiling. Ebay Inc.’s top management announced early Tuesday that the online auction pioneer is beginning preparations to spin off its PayPal Inc. unit some time in the second half of next year in a transaction that will result in eBay and PayPal operating as two independent, …
Read More »MCX’s InComm Deal Might Give Currency To the Idea That Its Network Is Building Momentum
Prepaid card services provider InComm Holdings Inc. announced today that it has struck a “strategic partnership” with Merchant Customer Exchange (MCX), parent firm of the fledgling mobile-payments network owned by merchants and recently branded as CurrentC. But exactly what the partnership will do for the long-aborning MCX is not clear. …
Read More »Banks’ Out-of-Network ATM Fees and Overdraft Fees Again Set Records
By Jim Daly Average out-of-network ATM fees set a record in 2014 for the eighth straight year by rising 5.3% to $4.35 per transaction, well above a 1.5% increase in 2013 but close to their 17-year average, according to Bankrate Inc.’s annual study of checking-account fees. Overdraft fees set a …
Read More »Two Payments Companies Target Improving E-commerce and M-commerce Conversion Rates
Frustration with typing in a 16-digit payment card number on a smart-phone screen leads to a lot of lost sales for e-commerce merchants. It’s a problem that two payments companies, offering different products, say they can help with. Making its U.S. debut first is PayItSimple USA Inc., an installment-payment service. …
Read More »Cobrin Steps Aside As AnywhereCommerce CEO to Focus on a New Cloud-Based Gateway
Mitch Cobrin, who has run AnywhereCommerce Inc. as chief executive for the last four-and-a-half years, has stepped aside for a new chief executive but will continue at the company in the role of founder, board member, and “chief catalyst,” he tells Digital Transactions News. The management change comes as the …
Read More »Most Smart Phones Expected To Be NFC and Mobile Wallet Enabled by 2015, Says Softcard Executive
By the end of 2015, most smart phones sold in the United States will have near-field communication (NFC) capability and be mobile-wallet ready, potentially creating a confluence of payments and commerce, says Matt de Ganon, senior vice president of product at mobile wallet provider Softcard. That prospect excites de …
Read More »PayPal Ad Campaign Stresses Strength in Mobile Security, But Will it BackFire?
PayPal Inc., the payments arm of eBay Inc., says it will process 1 billion mobile payments in 2014, and this experience means it knows something about mobile-payments security. That’s one message PayPal hopes comes across in a new ad campaign appearing in newspapers and online just days after Apple …
Read More »Capital Prepaid Looks to Extend Prepaid Program Management to Scores of Small Issuers
The general-purpose prepaid card market is hot, but most smaller financial institutions find it a daunting task to start and run a prepaid program. To fill that gap, Capital Prepaid Services on Monday launched a prepaid Visa card with two small banks as part of a campaign to make prepaid …
Read More »Apple Pay: No Charge for Merchants, But Transaction-Security Fees for Issuers
Apple Inc.’s introduction of its new Apple Pay service for its soon-to-be released iPhone 6 and the Apple Watch raised a huge number of questions in the payments industry. One of the biggest topics of speculation is just how is Apple going to make money from the service, with combines …
Read More »Apple Pay Looks To Be a Boost for NFC, But Creates a Question Mark for HCE
Apple Inc.’s new mobile-payment system may be a long-awaited shot in the arm for near-field communication (NFC), but it could also cool off an NFC variant that has caught fire since it emerged only 10 months ago. Apple Pay, which the iconic computer giant unveiled to enthusiastic applause Tuesday, will …
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