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Recent jumps in transaction activity and new business from both banks and billers have boosted optimism among online bill-payment processors and brightened their outlook for 2005 and beyond. Princeton eCom Corp., a 21-year-old processor in Princeton, N.J., ended 2004 having closed some 40 deals, including 34 with billers and six …
Read More »Reino Turns on Parking Payments with Peppercoin, SunTrust
Reino Parking Systems Inc. said today it had deployed parking meters in locations around the U.S. that will accept credit card payments from either cards or mobile phones, with transactions processed through SunTrust Merchant Services LLC and Peppercoin Inc. The meters are equipped with card swipes, but users with cards …
Read More »PassMark Goes Commercial, Signs up First Customer
A Woodside, Calif.-based startup company today began commercial production of a two-factor authentication system for Internet transactions and also announced its first customer for the product. PassMark Security LLC, which was founded last year, has sold its PassMark identification system to Stanford Federal Credit Union, Palo Alto, Calif. The 18-year-old …
Read More »Peppercoin 3.0 Debuts with Prepaid And Subscription Capabilities
Peppercoin Inc. today unveiled the third version of its processing system for small-value and micropayments transactions and announced a processing deal with First Data Merchant Services, which is expected to offer Peppercoin's gateway to its base of 3.5 million merchants. Peppercoin 3.0, which adds subscription and prepaid payment capability to …
Read More »Traditional Sources of ID Fraud Hit Harder Than Online Channels
For all the publicity phishing has received in the past year as a rapidly growing and particularly insidious form of electronic fraud, it figures as a source of information in identity-fraud cases only 1.7% of the time when the method behind the crime is known. Indeed, online channels as a …
Read More »Why ClearCommerce Opted to Join Forces with eFunds
ClearCommerce Corp.'s hopes to better its chances of winning business by becoming part of a publicly held company played a major role in its decision to merge with eFunds Corp., according to a senior executive at ClearCommerce. The Austin, Texas-based provider of transaction gateway and anti-fraud services to Internet merchants …
Read More »PayPal Racks up Big Fourth-Quarter Gains in Traffic and Accounts
PayPal Inc. saw the volume of transactions it handled in the fourth quarter last year soar 46%, to 99.6 million, over the same period in 2003, while dollar volume climbed fully 51% to $5.6 billion, according to data released this week by the online transaction processor's parent company, eBay Inc. …
Read More »ReD Beefs up Technology to Combat Growing Swarms of Fraudsters
E-commerce gateway Retail Decisions Inc. has announced enhancements to its anti-fraud technology that will, among other things, cut the number of transactions online retailers must refer for manual review by up to 30%. The Hazlet, N.J.-based operating unit of U.K.-based Retail Decisions PLC has integrated neural-networking technology called Prism and …
Read More »PayPal Says It Will Stop Blocking of Payments Backed by Credit Cards
PayPal Inc. has announced it will no longer allow sellers that have bank accounts registered with the San Jose, Calif.-based processor to block payments funded by credit cards, effective next month. Sellers' ability to refuse such payments has been part of the company's “Payment Receiving Preferences” policy for so-called premier …
Read More »eFunds Buys ClearCommerce, Picks up CNP Anti-Fraud Expertise
eFunds Corp. today announced it is buying ClearCommerce Corp., an e-commerce transaction gateway specializing in online fraud detection and prevention, for $19.4 million in cash. The deal is expected to close by March 31. By acquiring Austin, Texas-based ClearCommerce, eFunds picks up anti-fraud products and expertise for the card-not-present market, …
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