Digital Transactions Authoritative, insightful and timely information for payments professionals
n n n n n n n n n n n n n n n Merchant pricing is 0.9% of the sale plus 30 cents, which Gonthier says is only about one-third the cost of a credit card or PayPal Inc. transaction.
Read More »All-Electronic Payments Dominate 2012’s ACH Transaction Volumes
Boosted by more all-electronic payments, total automated clearing house network transaction volume grew 4.2% in 2012 to nearly 16.8 billion transactions from 16.1 billion the prior year, ACH governing body NACHA reported Wednesday. The value of ACH payments increased 8.8% to $36.9 trillion. WEB, an ACH code primarily for …
Read More »Fed Survey Confirms Mobile-Payments Users Remain Rare, but Data Show Growth Potential
Great news for mobile payments: the Federal Reserve says the percentage of consumers using a smart phone to make a purchase at the point of sale grew nearly threefold last year. Not-so-great news: don’t rely on that figure, because it’s too small to be statistically significant. Those and other …
Read More »Banks’ Bill-Pay Sites Poised To Grow as Consumers Make More Online and Mobile Payments
Consumers are paying fewer bills than they were in 2009, but paying more of them online and through mobile devices. Between 2009 and 2011 total consumer bill payments fell from 16.6 billion to 16.1 billion, according to a report released this week by Boston-based Aite Group LLC. The decline …
Read More »Eye on Acquisitions: ACI Snags Online Resources; FIS Swallows mFoundry
Thursday, Jan. 31, 2013, will go down as one of the payments industry’s more notable days of the deal. First, payments-software developer ACI Worldwide Inc. announced plans to buy Online Resources Corp. in a deal that values the electronic bill-payment and presentment technology provider at $263 million. Then the big processor …
Read More »NACHA’s Bill-Pay Council Puts the Finishing Touches on Its QR-Code Guidelines
Mobile bill payments took a step forward Thursday when automated clearing house network overseer NACHA reported that its Council for Electronic Billing and Payment (CEBP) had developed final guidelines for consumers to use Quick Response (QR) codes on bills to facilitate electronic payments. The guidelines are voluntary for billers, banks …
Read More »On the Rise, Mobile Bill Pay Could Spur More E-Bill Presentment, Card Usage
U.S. consumers are rapidly turning to mobile devices to pay bills, and that trend in turn is likely to encourage more card usage for bill payment and more electronic bill presentment, according to a study released this week. Some 8% of households with an Internet connection paid at least one …
Read More »The Latest Numbers Herald Checks’ Electronic Future
New data from the automated clearing house network show that ACH debit transactions for online bill payments grew 9% in the third quarter while paper checks converted into ACH transactions after being mailed to lockboxes decreased by 8%. The story behind the interrelated numbers boils down to the years-long …
Read More »Mitek Lands U.S. Bank As a Client for Its New Mobile-Imaging Bill-Pay Technology
Mitek Systems Inc., the leading developer of software for mobile remote deposit capture, announced on Wednesday that U.S. Bank will offer its new Mobile Photo Bill Pay product to its customers in 2013. The news is a breakthrough for Mitek in taking its key mobile-imaging technology beyond its original deposit …
Read More »FIS Heats up Faster Funds Trend with Its PayNet Real-Time Network
The nascent market for faster funds transfers, which has been on the boil all year, heated up further this week with Fidelity National Information Services Inc.’s announcement of its real-time PayNet network. The new system, which relies on FIS’s NYCE Payments Network LLC debit switch, is live with 200 FIS …
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