Digital Transactions Authoritative, insightful and timely information for payments professionals
While the recession is making an impact on consumer spending generally, PIN debit card usage is faring considerably better than that of signature debit. Indeed, PIN debit transactions by consumers grew 15% between July and December, the period during which the economic downturn began making itself felt, nearly four times …
Read More »Latest Pilot Will Put Online PIN Debit to the Test for Credit Unions
The effort to extend PIN debit to Web-based commerce embraced credit unions this week with the announcement by the Credit Union 24 electronic funds transfer network that it will pilot technology from Acculynk Inc., an Atlanta-based software company. The network, which links more than 100,000 ATMs and almost 500,000 point-of-sale …
Read More »UpClick Touts Free Processing In Return for Cross-Sell Offers
The battle to win over online merchants with low transaction fees intensified on Tuesday with the introduction by a Montreal-based startup of a payment platform that offers free processing for orders up to $40. UpClick, which started operations about 18 months ago, has more than a dozen software publishers using …
Read More »A Startup Aims to Bring Teens & Tweens into E-Commerce
A new payment system called BillMyParents debuted Monday that aims to tap an estimated $40 billion in potential online spending by teens and preteens, or “tweens.” But BillMyParents' success depends not just on technology, but also on the receptiveness of parents to receive e-mails or text messages from their progeny …
Read More »A New Bill Seeks to Allow But Also Regulate Internet Bets
A bill to establish an enforcement framework for licensed online gambling operators to accept wagers from individuals in the U.S. was introduced on Wednesday in the U.S. House of Representatives by Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee. The legislation is designed to replace the controversial …
Read More »EBay Boss Says PayPal Will Exceed One-Third of Company in ’09
It's been implicit for a while, but eBay Inc. on Wednesday made it clear that it has big hopes for its PayPal payments subsidiary as the company evolves from its core Internet auction business. “PayPal's opportunity and its niche is to power all of e-commerce,” eBay president and chief executive …
Read More »CyberSource: Online Fraudsters Clipped Airlines for $1.4 Billion
Airlines lost more than $1.4 billion to online fraudsters in 2008, representing about 1.3% of their Web-generated revenues. Those are two key findings from a first-of-its-kind survey about air carriers' Internet-related fraud. Mountain View, Calif.-based CyberSource Corp. commissioned the survey with Airline Information LLC, which produces conferences and publications about …
Read More »Eyeing New Markets, A Niche Payment Player Wards off Recession
The electronic-commerce payments market remains highly competitive despite the recession, and the online niche payment systems are trying to adapt their game plans to the fluid conditions. “The economy is helping us on the consumer side and the merchant side,” says Sergio Pinon, chief executive of eLayaway LLC, an online …
Read More »Internet Pioneer Case Promotes RevolutionCard to Audience of Bankers
Entrepreneur Steve Case, whose founding of America Online Inc. helped popularize the Internet, told an audience of bankers on Monday that his new venture is set to shake up electronic payments by dramatically slashing costs for merchants and consumers. Case's remarks came on the same day that venture, St. Petersburg, …
Read More »Merchants Vent Their Ire over Checkout Pricing on Google Site
The merchants have spoken, and they're none too happy with the new pricing plans Google Inc. disclosed earlier this month for its nearly 3-year-old Google Checkout online-payment service. Merchants are registering their ire on Google Checkout's Web site, where many of the 90-plus recent postings in a section reserved for …
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