Electronic Bill Payment

When Visa U.S.A. last month set out a new, stricter transaction-routing policy aimed at making sure all Visa payments flow through VisaNet, its backbone network, the rule's underlying purpose?to curb so-called on-us networking of transactions initiated with Visa cards?made headlines. But another, and less noted, part of the new policy …

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 …

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 …

The automated clearing house system will account for more than one-fifth of all consumer bill payments by 2007, thanks to dramatic growth in the conversion of checks sent to billers' lockboxes into electronic ACH transactions, according to a new study from consulting firm TowerGroup, Needham, Mass. This conversion, known as …

Half of online banking customers now receive fraudulent e-mails, known as phishes, and 78% say they are less inclined to respond to e-mails from the banks they do business with. That's according to a study released by New York-based security software company Cyota Inc. that illustrates how much worse the …

Evidence is starting to emerge that electronic bill presentment, like payment, is poised to explode. Statistics from Atlanta-based processor CheckFree Corp. show it was averaging a delivery rate of slightly more than 1 million bills a month during the third quarter of 2002. By the fourth quarter of 2003, it …

The movement among banks to waive or eliminate consumer fees on electronic bill payment is rapidly pushing the transaction channel into the mainstream of consumer payment products, according to the chief executive of Online Resources Corp. “Free works,” declared Matthew P. Lawlor, who is also chairman of the McLean, Va.-based …

UniRush Financial Services, a unit of UniRush LLC, New York, today announced an agreement with Milwaukee-based processor Metavante Corp. that allows holders of its prepaid Rush Visa card to use cash accounts linked to the card to make electronic bill payments. The service went live Friday, UniRush says, and is …

A survey conducted last month shows the extent to which e-mail fraud schemes, also known as phishing scams, are affecting consumers and their willingness to do business online, just as financial institutions and retailers are pushing to move more transactions into the online channel. Fully 75% of bank accountholders are …

The National Automated Clearing House Association (NACHA) announced today a change in its rules that will require billers that use NACHA's increasingly popular electronic check conversion service at lockboxes to notify customers they may opt out of the service. The new rule takes effect June 11. It does not specify …