Credit Cards

ProPay Inc., the only third-party payment processor chosen by eBay Inc. to handle transactions under its new all-electronic payment policy, says it is looking to the arrangement for big growth but hasn't yet worked out any projections for how much volume it will generate. “We see this as a growth …

Visa Inc. this week announced it would permit the widespread issuance of unembossed consumer credit and debit cards and business debit cards. In doing so, Visa played up the advantages to issuers, including less-complex supply-chain management, quicker activation, the ability to issue cards to customers in person at bank and …

Merchant acquirer Moneris Solutions Inc. reported on Thursday that it has an agreement with the federal government to buy the assets of Humboldt Merchant Services, a Eureka, Calif.-based acquirer with nearly $2.5 billion in annualized charge volume, 18,000 merchants concentrated in California and other western states, and a strong network …

Sensing a strong shift among consumers away from credit and toward cashlike payment, ModaSolutions Inc.' s eBillme online-payment system plans to pump a large share of its resources into recruiting new merchants and funding promotions with those merchants to attract more buyers, the company's top executive says. Much of the …

When eBay Inc. announced its all-electronic payments policy last month, the move triggered what an eBay executive calls a “mixed” response, at best, from the online marketplace's sprawling seller community. But the policy changes go beyond banning checks and money orders on eBay. They include requirements that will force third-party …

The heat over payment card interchange and debit cards in Canada is getting high enough to melt glaciers in the Yukon. A retailer group dominated by big stores, the Retail Council of Canada (RCC), on Wednesday launched a Web site called StopStickingItToUs.com in a campaign to build merchant resistance to …

Continuing its conquest of the nation's air carriers, PayPal Inc. reports that it is now accepted on Continental Airlines Inc.'s Web site. Houston-based Continental's acceptance of PayPal leaves the nation's two largest carriers, American and United, as the only big domestic holdouts. Besides newly booked Continental, which claims to be …

Widespread problems reported by small businesses with their card-processing vendors led a startup comparison-shopping Web site for business-to-business financial services to focus on transaction processing, the co-founder says. Chicago-based Transparent Financial Services LLC, which operates as a kind of Orbitz for entrepreneurs looking for financial services, plans to add health …

It lost in Congress, so now the merchant-acquiring industry is looking to the bureaucracy to help soften the blow of a new federal reporting requirement that becomes effective in 2011. The requirement, part of the massive mortgage-relief bill President Bush signed into law a month ago, will force the card …

Both biller Web sites and bank or so-called consolidator sites are gaining market share, but biller sites are growing faster, according to recent research. Sites maintained by billers will account for 13% of all consumer bill payments this year, up from 11% in 2007. Consolidator sites, meanwhile, will handle 11% …