Digital Transactions Authoritative, insightful and timely information for payments professionals
Merchant e-Solutions Inc., which on Tuesday announced it is actively marketing online PIN debit to both existing and prospective e-commerce merchants, credits the deep recession of the past year or so with helping to drive merchant interest in the service. “The recession has made [online PIN debit] more important,” says …
Read More »Amazon’s PayPhrase Cuts Cart Abandonment for eFashionSolutions
It's too early to make a final judgment, but a Web-site design and hosting company serving 25 online fashion retailers says acceptance of Amazon.com Inc.'s new PayPhrase is doing one of the key things online retailers want a payment service to do?reduce shopping-cart abandonment. Secaucus, N.J.-based eFashionSolutions LLC is one …
Read More »MasterCard’s SunTrust Coup Includes Credit As Well As Debit Cards
MasterCard Inc. struck the latest blow in its ongoing fight with Visa Inc. for issuer loyalty with Thursday's announcement that SunTrust Banks Inc. would switch its entire 5-million-card debit portfolio from Visa to the MasterCard brand. While one analyst called it a minor win, SunTrust's conversion underscores the growing importance …
Read More »LML Scores First ACH Patent Settlement, Says More Could Follow
LML Payment Systems Inc., which is pressing two patent-infringement lawsuits that could have broad implications for banks and processors that handle e-checks on the automated clearing house network, says more settlements could follow the one it reached last week with RBS Citizens Bank N.A. Patrick H. Gaines, LML's chief executive, …
Read More »Seeing Opportunity, Moneta Will Add Credit Offers to Its Online Wallet
Alternative-payments processor Moneta Inc. announced this week it will start offering so-called transactional credit to its users at the end of the first quarter. The credit feature, which the Atlanta-based company is adding to an online wallet that currently relies on automated clearing house debits from users' checking accounts, could …
Read More »VeriFone Battles Heartland Publicly While the Two Talk in Private
Payment card terminal maker VeriFone Holdings Inc. on Monday issued a press release trumpeting its victory in a courtroom skirmish with merchant acquirer Heartland Payment Systems Inc. What VeriFone didn't mention, however, was that it is in settlement talks with Heartland that could end their multifront legal war. That war, …
Read More »Hypercom And Ex-Boss of TNS Lay Plans to Spark Growth for HBNet
Hypercom Corp. and the McDonnell Group are forming a joint venture to deliver high speed transaction transport services worldwide. The venture, which will acquire and operate Hypercom's 5-year-old HBNet transaction-transport service, will be called Phoenix Managed Networks LLC and will be headed by John (Jack) McDonnell, founder and former chief …
Read More »VeriFone Sees Promise in Mobile Apps And Taxi Transactions
VeriFone Holdings Inc. swung to a welcome $3.69 million profit in its fourth fiscal 2009 quarter and sees evidence of recovery in its global markets, but the leading U.S. point-of-sale terminal provider isn't expecting a rebound in its North American business for a while. “It's still kind of a shaky …
Read More »After a Difficult Year, Lawlor Exits As CEO at Online Resources
Matthew P. Lawlor, the co-founder, chairman, and chief executive of Online Resources Corp., is retiring immediately as chief executive, the company announced early Tuesday. Lawlor will remain as chairman until Feb. 15 to assist with the transition, and then scale back to serving on the board of directors of the …
Read More »Early Results Are Inconclusive for NACHA’s New IAT Code
The first statistics about the new automated clearing house code for international transactions are in, though it's too soon to draw conclusions about how popular the so-called IAT code will become. According to NACHA, governing body of the ACH, IAT had 303,802 transactions in September with a total value of …
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