Digital Transactions Authoritative, insightful and timely information for payments professionals
The Western Union Co. took a decisive step into digital payments and online shopping with the launch last week of the WU Pay platform. The platform allows shoppers in the U.S. to pay for online purchases from their existing bank accounts or in cash at Western Union agent locations. Customers …
Read More »Monitise Heightens Its U.S. Mobile-Payments Profile With Pending Clairmail Deal
British mobile-banking and payments technology provider Monitise plc announced a $173 million deal Monday to buy San Rafael, Calif.-based Clairmail Inc. that will give Monitise a much bigger U.S. presence in mobile financial services and further consolidate a market nurtured by startups but feeling the increasing presence of international card …
Read More »Bill Payments by Paper Check Fade As ACH Bill Pay Continues Its Growth Spurt
New data from automated clearing house governing body NACHA reaffirm the continuing gains of electronic bill payment and the long-term decline in consumer check writing to pay bills. NACHA’s report for 2011’s fourth quarter says that transactions under the so-called WEB standard entry class code for Internet bill-payment debits grew …
Read More »Fiserv Slaps Rival FIS with a Lawsuit Alleging Infringement of Three Payments Patents
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Read More »Protests Force Verizon Wireless To Drop Its Planned $2 Payment Fee
n Bowing to an outcry of opposition, telecommunications giant Verizon Wireless cancelled a controversial $2 fee for one-time telephone and online payments just one day after announcing it. The carrier’s reversal came less than two months after Bank of America Corp. cancelled its enormously unpopular plan to charge some customers …
Read More »ACH Bill Payments Move into the Passing Lane
The financially struggling U.S. Postal Service is bemoaning the accelerating shift by consumers away from sending everything from Christmas cards to bill payments by physical mail. But, on the other side of the coin, new data confirm that the automated clearing house is where a lot of former paper-based …
Read More »Banks, Credit Unions Plan Mobile-Payments Moves in ’12; Are They Moving Fast Enough?
Major financial institutions are prepared to make bigger investments in mobile payments next year, but may not be moving fast enough to ward off non-bank competition, according to a report issued earlier this week. The chief type of mobile payments these institutions will be pouring money into in 2012 …
Read More »Mitek Snaps up Customers As Demand for Mobile Imaging Grows
Mobile-deposit and imaging software provider Mitek Systems Inc. said it doubled to 161 the number of financial-institution customers of its flagship Mobile Deposit product in its fourth fiscal 2011 quarter from 80 in the third quarter. The nation’s top five banks and seven of the top 10 now use or …
Read More »ACH E-Checks Post a Mixed Record of Growth for the Second Quarter
n Online payments to billers increased nearly 10%, to 657.3 million transactions, compared to the same quarter in 2010. These are transactions handled under the ACH’s WEB application, which for some time now has been the network’s biggest e-check category. They represent payments consumers make on the Web sites …
Read More »By Going Directly to S1’s Shareholders, ACI Hopes to Scuttle Fundtech Deal
ACI Worldwide Inc.’s effort to acquire rival payments-software firm S1 Corp. took a more hostile turn on Monday when ACI said it will go directly to S1’s shareholders, asking them to scuttle a proposed merger between S1 and Fundtech Ltd. The move by Elkhorn, Neb.-based ACI, spelled out in …
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