Digital Transactions Authoritative, insightful and timely information for payments professionals
With online merchants facing a June 30 deadline to prove they comply with a unified card-industry standard for data security, CyberSource Corp. said today it is rolling out a new service that will help Web-based retailers meet the security requirements. The Mountain View, Calif.-based transaction gateway for Internet merchants says …
News
April, 2005
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26 April
‘Webisodes’ from ‘Blair Witch’ Creator Take BitPass into Film Sales
Micopayments processor BitPass Inc., Menlo Park, Calif., is moving into uncharted territory for digital content by enabling payments for episodes of a new film being produced by a studio controlled by Daniel Myrick, best known as creator and co-producer of “The Blair Witch Project.” The so-called webisodes of “The Strand,” …
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25 April
VeriSign Will Start Offering 3-Year SSL Certificates Next Month
In a bid to make purchasing its Secure Sockets Layer (SSL) certificates more efficient for networks, VeriSign Inc. today said it will begin offering three-year certificates next month. The Mountain View, Calif.-based company said the new, longer-term certificates will save customers as much as 24% from the cost of currently …
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22 April
The 41st Parameter Fights Online Fraud with Not-So-Obvious Data
The need among online merchants and banks to harden their Web sites against phishing, pharming, and other attacks only rises by the month, and that's helping to drive business for startup companies like The 41st Parameter Inc., Scottsdale, Ariz. The company, formed last year, takes its name from its belief …
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21 April
A Trade Group for ATM Servicers Asks for Diebold Injunction
The Financial & Security Products Association, Albuquerque, N.M., has filed a motion for a preliminary injunction against Diebold Inc. as part of an antitrust suit the 307-member trade group filed in October against the North Canton, Ohio-based ATM manufacturer. The motion asks Judge William H. Alsup of the U.S. District …
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20 April
NACHA at Work on Blueprint for Back-Office E-Checks for Merchants
NACHA, the Herndon, Va.-based organization that establishes rules for automated clearing house transactions, is working on a business case for a new payment type that would allow merchants to collect all consumer checks they receive and convert them into electronic funds transfers in a back room or other central location. …
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20 April
Union Bank, National City Latest to Link to SVPCO’s Image Exchange
SVPCO, which began operating a national image-exchange network late last summer, today brought two more banks live on its system, bringing to nine the number of institutions and processors linking to the network. National City Bank, Cleveland, and San Francisco-based Union Bank of California are now trading check images through …
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20 April
PayPal Posts a 39% Boost in First-Quarter Transactions
Online-transaction processor PayPal Inc. processed 110.4 million transactions in the first quarter worth $6.23 billion, up 39% and 44% respectively over the year-ago period, according to figures released today by San Jose, Calif.-based eBay Inc., the company's parent. Of this transaction volume, some 71% came from auction activity, principally on …
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19 April
Merchant Breaches Cast Light on Deadlines for Card-Security Compliance
DSW Shoe Warehouse's disclosure yesterday that the theft of card data at its stores, originally revealed last month, affected some 1.4 million accounts follows by a week the news that card data stored by New York-based merchant Polo Ralph Lauren had been compromised and casts the spotlight on an industry-backed …
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15 April
IBM To Begin a Push for a Central Hub to Combine Transaction Types
Sensing a trend within banks toward pulling together credit, debit, checking, and other electronic payments-processing operations, IBM Corp. is getting ready to push an all-purpose retail payments engine for both bank back offices and third-party transaction processors. “It's a payments hub, and it's cheaper, faster, and easier to maintain,” than …