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VeriSign Inc. says heavy promotion it's putting behind its new trust mark for e-commerce will drive the number of payment-gateway client sites displaying the mark from 40,000 currently to more than 70,000 by year's end. And it expects that number to double by the end of 2005. The Mountain View, …
Read More »How Metavante Plans to Leverage Its VECTORsgi Deal And Check 21
With the Check Clearing for the 21st Century Act (Check 21) taking effect today, Metavante Corp. hopes to use its latest acquisition in the payments business to help it leverage sales to banks for distributed check capture and move the two national check image exchanges that have gone live so …
Read More »Northwest Doubles Web-Based Ticket Sales in 2004
Northwest Airlines Inc. is enjoying a breakthrough year in electronic ticket sales. The St. Paul, Minn.-based air carrier, the fifth largest in the world, is booking between $4 million and $6 million a day in ticket sales through its Web site, twice the volume the airline's site accounted for a …
Read More »Electronic Bill Presentment Poised for Explosive Growth
Evidence is starting to emerge that electronic bill presentment, like payment, is poised to explode. Statistics from Atlanta-based processor CheckFree Corp. show it was averaging a delivery rate of slightly more than 1 million bills a month during the third quarter of 2002. By the fourth quarter of 2003, it …
Read More »PayPal’s Technical Snafu Does Little to Dent the Confidence of Some
As the PayPal Inc. online payment service returned to normal yesterday, its technical problems of the past several days have raised the specter in some circles of the company's non-bank status. Some observers, particularly bankers, have long argued that as a non-bank financial entity, PayPal is not bound by many …
Read More »MasterCard Teams with Motorola to Test PayPass for Cell Phones
MasterCard International announced today it will launch pilots of its PayPass electronic payment system on mobile phones from Motorola Inc. The Purchase, N.Y.-based card company says the pilots will get under way at a “variety” of unspecified locations in the U.S by the end of the year. The Motorola phones …
Read More »Can a Veteran of ATM Networking Succeed in Health Care Processing?
A veteran ATM network executive thinks he can succeed at building a national health-care transaction-processing system, though similar efforts have a dismal record of failure. The executive, Joseph E. Wolfson, founder of the Metroteller electronic funds transfer network, expects the HealthTransaction Network to begin processing transactions from health-care insurance companies …
Read More »Albertson’s Will Pilot Biometric Authentication from Pay By Touch
Albertson's Inc., a Boise, Idaho-based chain of supermarkets, will install and test a biometric-based system to authenticate electronic transactions by the end of the first quarter next year. The system, which relies on mathematically derived templates of consumers' fingerprints, comes from San Francisco-based Pay By Touch, which has been aggressively …
Read More »Discover Sues, AmEx-MBNA Get Set in Wake of Supreme Court Decision
Within minutes of the U.S. Supreme Court's decision this morning to let stand a lower court's ruling forcing Visa and MasterCard to allow members to issue cards on the American Express Co. and Discover Financial Services Inc. networks, Discover filed suit against the bank card associations and AmEx announced it …
Read More »PayPal Launches First Campaign to Sign up ‘Off-eBay’ Merchants
PayPal Inc. is in the midst of rolling out its first marketing campaign to sign up non-eBay merchants for its online payment service. Dubbed “PayPal for Business” and aimed at what PayPal considers small and medium-size Internet merchants, the campaign features a telemarketing effort, a direct-mail blast, and a new, …
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