Thursday , March 28, 2024

News

April, 2012

  • 30 April

    Off to a Slow Start, a Database of Terminated ACH Originators Might Gain Traction Soon

    One year after its creation, a database of merchants and processors that generate suspect automated clearing house transactions doesn’t have a whole lot of data yet. Backers of the Terminated Originator Database (TOD), however, expect the database to grow rapidly this year and next as word of the project spreads …

  • 30 April

    Microsoft, NACHA, And Others Outline Legal Tools Used to Disrupt Zeus Botnet

    Microsoft Corp. used a trio of legal tools last month to raid an alleged cybercrime operation that had been using the infamous Zeus virus to steal funds and data from the financial-services industry, the software giant disclosed on Monday. The raids, which Microsoft and partner organizations first announced March 25, …

  • 27 April

    Most Acquirers Support EMV Programs, But April 2013 Deadline Has Them Nervous

    The re-terminalization of the merchant point of sale to accept EMV chip cards could generate more than $6 billion in revenues for independent sales organizations and other merchant acquirers, but the changeover is fraught with competitive and operational risks, according to a new research report by Aite Group LLC. Aite …

  • 26 April

    Startup Spindle Launches RhinoPay for Vending And, Ultimately, P2P Transactions

    The market for card-based vending machine purchases has hit some turbulence over the past year, but new competitor Spindle Inc. says the niche still has plenty of long-term opportunities. “I’m not at this point so worried about being different as adding competition,” says Bill Clark, president of Scottsdale, Ariz.-based Spindle. …

  • 25 April

    Google Starts Selling a Wallet-Equipped Smart Phone Directly to Consumers

    Google Inc. breathed a bit of new life into its struggling Google Wallet franchise on Tuesday with the announcement that it is releasing directly to the public a new Android-powered phone that features the Wallet app. The so-called unlocked device, a Nexus smart phone, will work on any carrier network …

  • 25 April

    Georgia Breaks Legal Ground With New Charter for Specialty Acquiring Banks

    A little-noticed new Georgia law creates a new type of bank dedicated solely to merchant acquiring that could radically transform how the acquiring business works in the U.S. Enacted at the behest of Global Payments Inc., the big Atlanta-based merchant processor, the law enables a non-bank acquirer to own its …

  • 24 April

    Consumer-Capture Pioneer Chase Rolls out Smart-Phone Capture for Businesses

    JPMorgan Chase & Co. on Tuesday introduced what appears to be the first commercially available mobile remote deposit capture service for corporate entities. Widely known in electronic-payments circles for its TV ads for its consumer-based mobile check-capture product, Chase is now seeking new clients for its Image Deposit Direct Mobile …

  • 23 April

    Facing Tighter Bank Rules, ACH Processors Turn to Another Processor for Relief

    Tougher restrictions by banks are creating a business opportunity for Global eTelecom, a Fort Walton Beach, Fla.-based processor of automated clearing house transactions. While the 14-year-old company has traditionally relied on reseller agreements with independent sales organizations for new business, it’s now also pursuing deals to handle volume for other, …

  • 20 April

    A Battered Acquiring Industry Seeks New Political Survival Strategies

    In the wake of the Durbin Amendment’s debit card price controls taking effect last fall and other new regulations, the payments industry is feeling politically battered and bruised and fearing that more fights with merchants are on the way. “Our era of self-regulation of pricing has ended,” Mary Weaver Bennett, …

  • 19 April

    As U.S. Gears up for Chip Cards, a Big-Box Merchant Group Points to Key PIN Issue

    Among card networks, payment processors, point-of-sale terminal manufacturers, and even issuers, the coming of EMV chip card payments to the U.S. has an aura of inevitability on par with Mitt Romney securing the Republican presidential nomination. But just don’t tell that to one critically important sector in electronic payments: merchants. …

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