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Secure Vault Payments (SVP), a method of e-commerce payment that relies on the automated clearing house, secured its first big-bank supporter on Wednesday with the announcement that U.S. Bank has agreed to offer the service to both consumer and merchant clients. The fifth largest bank in the country, the Minneapolis-based …
Read More »Visa Joins the Parade of Networks Adopting Open Platforms
Third-party software applications linked to payment processors’ and networks’ systems are becoming the name of the game for attracting merchants, and No. 1 network Visa Inc. is now a player thanks to upgrades to the Authorize.Net unit of its new CyberSource Corp. subsidiary. The new features on Authorize.Net’s Developer Center …
Read More »PayPal Heads Into Developer Confab With a Solid Third Quarter
With its developer conference just ahead and new markets such as mobile payments opening up, PayPal Inc. put the oomph in its parent company eBay Inc.’s third-quarter financial report. But with more than 90 active million customers and $22 billion in quarterly payments volume, a question on some minds is …
Read More »Shazam Attacks Online PIN Debit with a Trio of Solutions
If one PIN-debit system for Internet payments is good, three are even better in the eyes of the Shazam electronic funds transfer network. The network on Wednesday announced it has become the first network client of a new online PIN-debit platform from e-commerce systems provider CardinalCommerce Corp. Shazam now has …
Read More »CardinalCommerce Announces an Entry in Online PIN Debit
CardinalCommerce Corp., a major player in the business of enabling alternative payments for merchants and processors, entered the nascent business of online PIN debit on Tuesday with a product it says requires little to no integration work by merchants, gateways, processors, or networks. The Mentor, Ohio-based company says it has …
Read More »Secure Vault Payments Launches As a Commercial Service
NACHA’s long-awaited Secure Vault Payments (SVP) program, which lets consumers make guaranteed payments online through the automated clearing house network, officially became a commercially available product on Thursday after a pilot that began in the spring of 2008. The new product can now be offered by any bank linked to …
Read More »PayNearMe Debuts Cash Payments for Online Buys
PayNearMe Inc. on Wednesday announced the launch of a payment system that lets unbanked consumers pay for goods online or over the phone with cash. The system, which relies on real-time links to point-of-sale terminals in 6,000 U.S. 7-Eleven stores to collect and record cash transactions, has attracted eight announced …
Read More »In a First, eBay Permits Gateways Besides PayPal
When eBay Inc. late last month announced it will no longer allow so-called third-party checkout services after June 30, 2011, the San Jose, Calif.-based online auctioneer’s policy shift attracted plenty of attention. Less noted was a decision, announced at the same time, to allow payment gateways other than PayPal to …
Read More »Visa Hopes RightCliq Adds the Right Value for Online Payments
Visa Inc. sees its new RightCliq shopping service as a means by which it can control more e-commerce transaction volume. But it might also represent a tactic by which it can add value to payments at a time when payment processing is increasingly perceived by merchants and consumers as a …
Read More »Acculynk Scores Again, This Time with Its MasterCard Pact
Just two weeks after announcing its biggest EFT network partnership with the Discover Financial Service-owned Pulse network, online PIN-debit technology provider Acculynk Inc. landed an even bigger fish. Under a deal announced Wednesday, MasterCard Inc.’s approximately 8,500 U.S. Debit MasterCard issuers will have the option of offering Acculynk’s PaySecure service …
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