Electronic Bill Payment

Metavante Corp. on Tuesday announced software that the Milwaukee-based processor and NACHA, the rules-setting organization for the automated clearing house network, say will make it possible for more banks to participate in a new online payment product NACHA plans to start piloting in less than a month. “This [software] is …

Less than a year after launching a commercial, handset-based banking and bill-payment program in the U.S., Citigroup Inc. announced it is working with a major South Korean telecommunications company to offer mobile banking around the world. The San Francisco-based joint venture, Mobile Money Ventures LLC, will be equally owned by …

Walk-in bill-payment provider IPP of America Inc. on Tuesday announced it had raised $20.5 million from three institutional investors, capital that will enable the fast-growing company to expand its physical presence and add more billers to its network. The investment also represents the first round of venture-capital financing arranged by …

In an effort related to a broader initiative to tighten risk management in the automated clearing house network, NACHA this week announced its voting membership has approved a rule that requires companies that originate transactions to identify themselves with names their customers will recognize. The new rule, which goes into …

Visa Inc., which is planning an initial public stock offering this year, processed 9.1 billion transactions in its fiscal 2008 first quarter ended Dec. 31, up 1.1 billion or 13% from 8 billion a year earlier, according to the quarterly report the No. 1 payment network filed Feb. 4 with …

Three months after Wachovia Corp. began offering a mobile-banking service based on a software application installed in customers' handsets (Digital Transactions News, Nov. 13, 2007), the Charlotte, N.C.-based banking company is seeing new enrollments in the service rise at an average of 40% per week, while 10% of enrollments have …

Kiosk-based electronic bill payments got another boost this week when processor Fiserv Inc.'s CheckFreePay walk-in bill-pay unit announced a deal with Ready Credit Corp. that will make bill-pay services available to consumers using cash at Ready Credit's 55 ReadyStation self-service kiosks by early spring. The kiosks, which already allow consumers …

TIO Networks Corp. signaled a new strategy last week when the kiosk network struck a deal with IPP of America Inc. to process bill payments at IPP walk-in locations (Digital Transactions News, Nov. 29). For the first time, TIO will be handling transactions on its network without the need to …

A sleepy, middle-tier processor of walk-in bill payments and prepaid card top-ups is embarking on ambitious plans to introduce online bill payment, forge more direct links to billers, and build out its network of retail walk-in locations. Under Ronald W. Averett, its new chief executive, Fairfield, N.J.-based IPP of America …

AT&T Inc., which on Tuesday announced it is launching a nationwide mobile-banking service, expects to have 500,000 mobile phones preloaded with the software necessary for the service by the end of the year and 10 million handsets so equipped by the close of 2008, according to a senior executive with …