Digital Transactions Authoritative, insightful and timely information for payments professionals
Bling Nation Ltd., which late last year unveiled a private-label payment network intended for local transactions (Digital Transactions News, Nov. 19, 2008), this week announced it has signed up its first financial institution and has been processing transactions for it in Colorado. The State Bank, La Junta, went live on …
News
June, 2009
-
24 June
One to Many: Visa Gets a Single Connection to Multiple Carriers
Visa Inc. has a struck an agreement with NeuStar Inc., a key player in the wireless telecommunications industry, that could enable financial institutions to develop more payment services for mobile devices. Created in 1998, Sterling, Va.-based NeuStar plays a unique role in the phone business. It acts as a neutral …
-
24 June
AllTrust Looks to Newly Minted Patent for Remote Capture Growth
So-called third-party checks represent a potentially lucrative niche market for remote deposit capture, and now a biometric-authentication vendor has been granted a patent for a process by which such checks can be authorized and imaged for deposit under Check 21 rules. AllTrust Networks, which announced the patent last week, now …
-
23 June
Beyond Stickers: Contactless ‘Skins’ for Payments with Handsets
The trend toward using adhesive tags to give mobile phones contactless-payment capability is going one step farther?now at least one startup is marketing a small sheet of vinyl that wraps around the entire mobile device and contains a contactless chip-and-antenna inlay. Mobile Payment Skins LLC launched last week to offer …
-
23 June
CashEdge Unveils a P2P Service To Be Controlled by Banks
The person-to-person payment business, which has attracted a number of new players already this year, grew more crowded on Tuesday with the announcement by CashEdge Inc. that it will launch a service later this year. Executives with New York City-based CashEdge, which specializes in supporting online account opening and account-to-account …
-
22 June
With a New PIN Pad, First Data Promotes Contactless to Merchants
PIN-debit cards and contactless acceptance seem like two unlikely electronic-payment services to promote in one point-of-sale device, but that's exactly what First Data Corp. is doing with the latest addition to its FD line of POS hardware. The big processor's goal with the new FD-30 PIN pad: build future demand …
-
18 June
Discover’s Transaction Volumes Hold Up in a Turbulent Quarter
With the credit crisis still blowing at gale force, Discover Financial Services managed to grow its second-quarter transaction and dollar volume thanks mostly to its Pulse PIN-debit network and Diners Club International more than offsetting weak credit card volume. Riverwoods, Ill.-based Discover reported Thursday that it handled a total of …
-
17 June
Consolidators To Take Greater Share of Slower-Growing Bill-Pay Market
Electronic bill-payment consolidators?notably banks?could finally claim at least half the market, but to hold on to their gains, banks will need to pay special attention to affluent young adults. That's a key conclusion in a new forecast for the growing bill-pay market by Cambridge, Mass.-based Forrester Research Inc. Forrester predicts …
-
17 June
MasterCard Launches Mobile MoneySend for U.S. P2P Transactions
MasterCard Inc. on Wednesday announced its person-to-person payment service for mobile phones has launched in the U.S. with one issuer on board and an untold number waiting in the wings. The card network's Mobile MasterCard MoneySend service, which has been in the works for at least a year (Digital Transactions …
-
16 June
The Banking System Scrambles Toward IAT’s September Launch
With the deadline just three months away, the banking industry is scrambling to implement IAT, the new automated clearing house code for international transactions. IAT originally was to take effect March 20. But NACHA?The Electronic Payments Association, governing body of the ACH, last July pushed it back to Sept. 18, …