News

September, 2012

• 11 September

  Fiserv Makes a Push for Real-Time Transactions with Its SpotPay Mobile Service

  The electronic-payments industry’s zig-zag movement toward faster transaction times may have received a jolt of new life on Monday with Fiserv Inc.’s announcement of its SpotPay mobile-acceptance service. The service, which at first glance appears to be the latest in a long line of products that let small businesses run …
• 10 September

  Once in the NFC Vanguard, a Struggling ViVOtech Heads for Liquidation

  Financially struggling contactless card technology provider ViVOtech Inc. insisted just over a month ago when it sold its hardware business that it was staying in operation and focusing on software. But now the company appears to be headed toward liquidation. A document sent to creditors and others with a financial …
• 7 September

  ACH Bill-Pay Council Floats Plan To Bring QR Codes to Bills

  A group that promotes electronic bill payment through the automated clearing house network is proposing guidelines for use of Quick Response (QR) bar codes on bills that backers hope will encourage more consumers to pay bills online. The Council for Electronic Billing and Payment is taking comments on its proposal …
• 6 September

  Durbin Effects Manageable So Far for Small Banks—But Worse Is Expected

  Now that the Durbin Amendment’s debit card interchange caps have been in effect for nearly a year, enough time has passed for community banks and credit unions to start to determine the impact, if any, the price ceilings have had on their income. Based on conversations Digital Transactions News has …
• 6 September

  How Visa’s New Network Fee Can Bring New Credit Risk for Acquirers

  Visa Inc.’s complicated new Fixed Acquirer Network Fee, or FANF, has caused considerable head scratching if not outright consternation for merchant acquirers, independent sales organizations, and merchants since it took effect in April. But, in addition to figuring out FANF’s mysteries, the acquiring industry needs to account for a new …
• 5 September

  Acculynk Enters Acquiring Market, Gains Small-Merchant Footprint with PayLeap Deal

  Online PIN debit provider Acculynk Inc. on Wednesday entered the acquiring business with its acquisition of PayLeap, a 4-year-old gateway provider and processor based in Warsaw, Ind. Terms of the deal, which has already closed, were not released. Up to now, Acculynk has worked chiefly with big acquirers to sign …
• 5 September

  ‘Disinformation,’ Fire, Losing Bidders, and Other Woes Plague VeriFone’s Summer

  The financials looked good, but the Fates seemed to be spinning some entangling threads for VeriFone Systems Inc. during the leading point-of-sale terminal maker’s third fiscal quarter ended July 31. There was the challenge to VeriFone’s big win in Washington, D.C., where the company’s taxicab payment and media systems are …
• 4 September

  Financial Institutions Face Threat of Slow Growth in Online Banking, Bill Pay

  Once the bright stars in the financial world’s firmament, online banking and bill pay are no longer growing for banks and other financial institutions and will likely see only incremental growth over the next five years, a new report projects. Unless financial institutions can ignite growth again, they will drift …

August, 2012

• 30 August

  NACHA Proposes a WEB Credit for P2P Payments Over the ACH Network

  In an effort to bring some order to the Wild West of person-to-person payments over the automated clearing house network, ACH governing body NACHA-The Electronic Payments Association is proposing a new credit version of its WEB code for online person-to-person payments that would include standardized formatting for the transactions. Herndon, …
• 30 August

  Quiet During the Wallet Wars, Visa Readies V.me for a Year-End Rollout

  With digital wallets from the likes of PayPal Inc., Google Inc., and the Isis consortium grabbing headlines, Visa Inc.’s V.me staff has been quiet but busy. The payment service is live with five online merchants, and Visa plans to introduce it as a commercial product by year’s end, a spokesperson …