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Universal Air Travel Plan Inc. is still in growth mode despite some weakness in its core corporate travel business, thanks in part to an ongoing alternative online-payments initiative that started in 2005. Now the specialty payment processor is looking to sign hotels as merchants. Processing volumes rose about 20% last …
Read More »Noca Stresses Low-Cost ACH Payments for Online Merchants
Noca Inc., which this week launched a beta version of an online-payments product that relies on the automated clearing house network, plans to have a commercial service ready for launch by June, Pankaj Gupta, president and founder of the Mountain View, Calif.-based startup tells Digital Transactions News. One feature the …
Read More »How Checking Fees Create An Opening for Prepaid Cards
Banks claim they want to serve so-called underbanked and unbanked consumers, but the fees they slap onto checking accounts, particularly non-sufficient funds (NSF) and overdraft fees, are creating a strong business case for prepaid cards to displace a substantial number of checking accounts, according to a new research report. Using …
Read More »Court: AmEx Can’t Use Arbitration To Thwart Merchant Class Actions
A three-judge panel for the federal appellate court in New York reversed a lower court by ruling Friday that the arbitration provision in American Express Co. merchant agreements that requires merchants to give up their right to participate in class-action lawsuits against AmEx, or even to challenge the company as …
Read More »ISO First American Seeks Early Mover Advantage with Remote Capture
Further evidence that independent sales organizations are mobilizing to sell Check 21-based electronic check processing to merchants emerged last week with First American Payments L.P.'s announcement that it will re-sell remote deposit services from RDM Corp., a Waterloo, Ontario-based vendor of electronic-check solutions. Fort Worth, Texas-based First American, which provides …
Read More »Can Facebook Grasp the Payments Opportunity Now in Front of It?
This is the fifth installment of a six-part series on how Web 2.0 is likely to transform the payments business. Prior articles focused on how new providers are leading the transition from the first generation of e-commerce, where a buyer had a one-way relationship with a seller's Web site and …
Read More »Pricing Doesn’t Tell the Whole Story About Merchant Attrition
Pricing is by far the biggest reason merchants cite when asked why they left their previous payment card processor, but there’s more to the attrition story than meets the eye, according to a new study by Aite Group LLC. “Pricing is only the proverbial straw that breaks the camel’s back,” …
Read More »Credit Losses at Bill Me Later Climb Past 8% But Don’t Faze eBay
Credit losses at Bill Me Later Inc. are manageable despite the economic downdraft of the past year, officials at eBay Inc. told analysts recently. The Timonium, Md.-based provider of so-called transactional credit for online transactions, which eBay bought last year and paired with its PayPal online-payments unit (Digital Transactions News, …
Read More »New Fax Product Aims at Easing Remote Capture for Low-Volume Users
The rapidly mounting popularity of a technology that lets businesses process checks by turning them into electronic images for deposit is giving rise to new methods that promise to relieve small businesses of the need to have either traditional check scanners or processing software. The latest example is a product …
Read More »The Challenge Confronting PayPal, Google, And Amazon
This is the third installment of a six-part series on how Web 2.0 developments are likely to transform the payments business. The online marketplace is morphing to payments embedded in top-line oriented-marketing services, and integrated infrastructure where small retailers can share the scale and cost savings of bigger players. Both …
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