Digital Transactions Authoritative, insightful and timely information for payments professionals
n Online sales for the year will reach $309 billion, up 16% from $266 billion in 2010, according to the report. That volume will grow to $346 billion next year and $444 billion 2016, the report forecasts. General-purpose credit cards will capture 40% of online spending in 2011 and …
November, 2011
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28 November
Eye on Prepaid: Intuit’s GoPayment Card, Green Dot’s Bank
The prepaid card industry is marching to new frontiers as November heads toward a close. Intuit Inc. on Tuesday is expected to launch a prepaid Visa card for new merchants in its GoPayment smart-phone-based service, and the Federal Reserve Board approved prepaid card program manager Green Dot Corp.’s plan to …
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23 November
Just in Time for the Holidays—Gift Cards That Require Only 10% Down
With the holiday-shopping season set to kick off on Friday, a startup in San Diego has launched a Web site that lets consumers buy gift cards at 10% of face value. The remaining balance, the company says, comes due only when the cards are redeemed. The site, from Moola …
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22 November
The Planets Align for a Boom in Mobile Remote Deposit Capture
Only a handful of the nation’s 13,000 financial institutions today offer remote deposit capture to consumers, but, riding the wave of smart-phone popularity, the number is poised to mushroom, according to new research findings from Celent LLC, Boston. Some 66% of 187 banks and credit unions Celent surveyed in …
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22 November
Merchants File Suit Accusing the Fed of Departing from the Law with Its Durbin Regs
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21 November
Chase Issues First Airline EMV Card, Following Two Chip Cards Launched Earlier
n As with Chase’s previous two EMV deployments, the new Visa card will allow cardholders to sign for transactions rather than enter a PIN, which is a far more common form of authentication for EMV in markets like Europe and Canada where the smart card technology has been rolled …
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19 November
Chicago Transit Authority Places a $454 Million Bet on Open-Fare Payments
Open-fare payments for public transportation got a big boost when the Chicago Transit Authority announced it had awarded a $454 million, 12-year contract to Cubic Transportation Systems to build and maintain a payment system that accepts contactless cards. The CTA, which provides about 500 million rides a year, thus …
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17 November
MasterCard And Intel Look for Near-Term Results from E-Commerce Deal
The alliance MasterCard Inc. announced earlier this week with Intel Corp. to secure e-commerce transactions will not supersede SecureCode, a MasterCard online authentication system, but will fairly soon lead to a new type of contactless-payment device from an emerging category of ultra-thin, fast-start PCs, executives with both companies tell Digital …
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16 November
Visa’s Digital Wallet Coming in Early ’12, But Contactless Will Follow Later
Visa Inc. will launch its digital wallet product some time early in 2012, but contactless-payment capability won’t be part of the wallet until the second half of the year, a Visa executive responsible for the product tells Digital Transactions News. The first release of the wallet, which Visa is …