Digital Transactions Authoritative, insightful and timely information for payments professionals
A brief reference to a rival debit card network in a recent document sent from Visa USA Inc. to its members has raised the hackles of the co-founder of that network and embroiled him in a debate with Visa USA chief executive Carl Pascarella over the risk associated with debit …
Read More »Continental Aims at a 20% Expansion of Its Kiosk Network
Already the second-largest deployer of electronic ticketing machines at airports, Continental Airlines Inc. plans to add another 150 units this year, including some at international destinations. The first airline to deploy self-service ticketing kiosks nine years ago, Continental now has 779 online at 130 domestic airports, trailing only Delta Air …
Read More »Yankee Group Charts the Rise of Outsourced Network Security
As network security managers scramble today to combat the so-called MyDoom virus, one of the most malicious network attacks security experts have seen yet, the Boston-based consulting firm Yankee Group has released a report predicting that the frequency and virulence of such incidents will create a flourishing new market in …
Read More »AmEx Looks to Have Its First Bank Issuer by Year’s End
American Express Co. says it will be a matter of “months,” not “years,” until banks in the United States are issuing the company's card products now that the U.S. Second Circuit Court of Appeals has thrown out a motion from Visa International Corp., Visa USA Inc., and MasterCard International Inc. …
Read More »Prepaid Plastic Zeroes in on the Payroll Market
With gift cards accounting for more than $17 billion in retail sales, or about 8% of merchants' total take, during the recent holiday shopping spree, according to the National Retail Federation, the plastic has become a star in the electronic transaction firmament. But while gift cards are stealing the headlines, …
Read More »Why Ticketing Kiosks Are Checking into Hotels
The next step in transaction automation in the travel industry may well be the introduction of self-service ticketing machines, which are getting increasing usage at airports, into related markets like hotels, allowing travelers to integrate several transactions into one. Already, self-service kiosks at hotels allow travelers not only to check …
Read More »A Check Hauler Gets Set to Embrace the Future
Fast Forward Solutions LLC, a subsidiary of Columbus, Ohio-based air-freight hauler AirNet Systems Inc., is gearing up AirNet's seven regional hubs to handle Fast Forward's new business: transporting image-replacement documents for banks converting from paper checks to check imaging. Within six weeks, says Jeff Harris, the former banker and AirNet …
Read More »Chase-Bank One Merger Creates a Transactions Powerhouse
The merger of banking powerhouses J.P Morgan Chase & Co. and Bank One Corp., announced late yesterday, would create the nation's second largest credit card issuer as measured by credit outstanding, the banks' chief executives said this morning in a meeting with analysts. The combined bank would boast 95 million …
Read More »FDC Shareholders Don’t Have to Okay Revised Concord Terms
First Data Corp. will not need to seek the approval of its shareholders for the revised terms announced Monday under which it will acquire Concord EFS Inc. First Data announced today it has been informed by the New York Stock Exchange that the NYSE will not require the Denver-based processor …
Read More »Visa’s New Debit Rates May Be Only List Prices””
Visa USA Inc.'s newly announced interchange pricing for its signature-based, or offline, debit cards are only the starting point for what will be many rounds of negotiations with larger regional and national retailers, say industry observers. Meanwhile, despite the new rate announcement from Visa, MasterCard International Inc. says it is …
Read More »