Digital Transactions Authoritative, insightful and timely information for payments professionals
Square Inc., the flashy mobile-payments startup that now counts Starbucks Corp. as one of its merchants, announced a new flat-pricing plan Thursday that puts the company squarely into the ring with independent sales organizations and merchant acquirers competing for established small businesses. And Dunkin’ Donuts, a rival of Starbucks for …
August, 2012
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15 August
Merchant-Controlled Network Debuts Its Name But Leaves Many Questions Unanswered
The new mobile-payments network being developed by retailers went public on Wednesday with its name, Merchant Customer Exchange, or MCX, and the identities of 15 initial merchant-investors. But, five months after merchants first revealed plans to build an alternative to the major card networks as mobile payments take hold in …
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15 August
Same-Day ACH Idea Could Stage a Comeback, Despite Big-Bank Opposition
A proposal to change the rules of the automated clearing house network to allow faster clearing times, which last Friday fell short of the votes needed to be enacted, is likely to be resurrected in some form, experts polled by Digital Transactions say. “I don’t think it’s dead, but it’s …
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13 August
Contactless And Mobile Payments at the Olympics: Definitely Not a Medal Winner
Which was the big payments winner at the Summer Olympic Games in London, which ended Sunday? Answer: Cash, a contender that’s entered every Olympics ever held. Contactless cards and mobile devices accounted for very few payments, according to a Celent LLC analyst who visited two different Olympic venues last week. …
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13 August
In a Blow to Faster Settlement, NACHA Members Nix Same-Day ACH Bid
A proposal that would have changed network rules to dramatically speed up automated clearing house transactions fell short on Friday of the votes needed to be enacted by NACHA, the ruling body for the ACH system. The vote on the proposal, which would have provided for same-day instead of next-day …
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9 August
Acculynk Lands American Airlines, Cites Momentum for Online PIN Debit
Acculynk Inc., which on Wednesday announced it has signed up American Airlines Inc., says the recruitment of its largest merchant yet indicates stronger interest among online retailers in accepting PIN debit transactions. Indeed, Ashish Bahl, chairman and chief executive of the Atlanta-based company, tells Digital Transactions News it expects to …
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8 August
AmEx Flap Is an Embarrassment, But Not Likely to Hurt Google Wallet
Regardless of how talks between Google Inc. and American Express Co. turn out, it isn’t likely AmEx will shut down its cardholders’ access to the online search giant’s newly overhauled mobile wallet. Indeed, much of the discussion now is likely focused narrowly on the use of the AmEx brand, says …
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8 August
Square Enters Big-Time Acquiring with Its Cube-Less Starbucks Deal
The announcement late on Tuesday that Square Inc. struck a deal with coffee giant Starbucks Corp. for the first time puts Square, a specialist in bringing mobile-payment acceptance to small businesses and consumers, into the role of a more traditional card processor for a large national merchant. And at least …
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7 August
Durbin Decries Credit Card Interchange Settlement, Hints at Small-Ticket Debit Fix
The chief sponsor of the Durbin Amendment that regulates debit card interchange is calling the proposed settlement in a big credit card interchange court fight “a stunning giveaway” and “a capitulation to the Wall Street banks and credit card giants.” In addition, U.S. Sen. Richard Durbin, D-Ill., wants to fix …
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7 August
ViVOtech Sells Hardware Unit To Concentrate on NFC Software
ViVOtech Inc., a pioneer in contactless payments and near-field communication (NFC) technology, disclosed Monday that it sold its card-reader business to ID Tech, a manufacturer of smart card readers and point-of-sale hardware and identity-verification products. The subject of reports last week that it was laying off people and possibly going …