Digital Transactions Authoritative, insightful and timely information for payments professionals
n “It’s not final by any means,” vows Patrick H. Gaines, chief executive of Vancouver, British Columbia-based LML. The company is preparing an appeal of the patent office’s action, he says, and has also applied for its own re-examination, which could allow it to add or amend claims. “Certain …
Read More »With Seven Device Makers Now On Board, Isis Readies for Its Dual Pilots in 2012
n While the development appears to give Isis a leg up on Google Inc., whose NFC initiative has so far been limited to a specific handset model from Samsung, observers point out that the mobile-operator joint venture is lagging behind in other respects. For example, Google recently announced the …
Read More »Pressing Its Patent, Tiny LML Taps Financial Titans for More Than $40 Million
In the course of a three-year legal war over a patent related to automated clearing house processing, LML Payment Systems Inc. has wrung at least $40.5 million out of some of North America’s biggest financial institutions, including Citigroup Inc., PayPal Inc., and HSBC Holdings PLC, and reinforced its claim on …
Read More »Seeking to Boost Conversions, card.io Pushes Card-Scanning for Smart Phones
n The San Francisco-based company, which is aiming its product at developers, in June released an iOS version for Apple Inc. devices. It says the software is now active on 80 applications, with another 750 having registered but not yet gone live. “Getting such a wide variety of apps …
Read More »Google, PayPal Present Competing Visions for Replacing Cards with Mobile Devices
n n n n n n n n n n
Read More »Google Announces Commercial Launch of Its Much-Anticipated NFC Mobile Wallet
n With an over-the-air update, users of the Nexus S 4G smart phone on the Sprint Nextel network are now able to use the Google Wallet to make purchases at any of the 144,000 U.S. merchant locations that accept contactless payments. For the time being, the Google application can …
Read More »The New IRS Reporting Rule Could Have a Silver Lining for Acquirers
The new federal regulation requiring processors and acquirers to report merchant electronic payment transactions to the Internal Revenue Service is proving to be a major challenge for the industry, but at the same time could turn into a revenue generator for acquirers, according to a researcher. The requirements originated with …
Read More »Private-Equity Player GTCR Swoops in to Snatch Fundtech from S1’s Grasp
In yet another twist in the ongoing corporate drama involving payments-software firms S1 Corp., Fundtech Ltd., and ACI Worldwide Inc., news emerged early on Thursday that Fundtech is spurning S1 in favor of what it views as a better offer from GTCR, a Chicago-based private-equity firm with a history of …
Read More »Two Founders Bolt CoCard to Start a New ISO with Shareholder Equity And Deal Focus
Two executives who helped found CoCard Marketing Group LLC have left the Nashville, Tenn.-based independent sales organization to start their own ISO with what appears to be a unique ownership structure based on shareholding for participating offices. “Our company is going to be based on shares of stock,” says …
Read More »VeriFone Looks to Services And Mobile Payments for Growth
North American sales were flat, but leading U.S. point-of-sale terminal maker VeriFone Systems Inc. still posted a 21% increase in revenues on the strength of its international business in the quarter ended July 31, and profits jumped 42%. Fresh from its August acquisition of long-time rival Hypercom Corp., VeriFone anticipates …
Read More »