News

October, 2009

• 22 October

  PayPal Steams Ahead, While Recession Takes a Toll on Bill Me Later

  A sour economy isn't hobbling PayPal Inc.'s online-payments steamroller, but the downturn and the seemingly fragile recovery are creating some challenges for Bill Me Later, the online credit processor PayPal parent eBay Inc. bought a year ago and this week integrated with PayPal. Meanwhile, rumors continue to swirl around the …
• 22 October

  Modern Bank Robbers Could Shutter As Many As 10 Financial Institutions

  Losses caused by massive fraud could bring down as many as 10 financial institutions within the next three years, predict analysts at Treasury Strategies Inc., a Chicago-based consultancy specializing in financial services. Since bank failures are usually caused by economic downturns or mismanagement, the prediction comes as a startling reminder …
• 20 October

  An Inside Look at the Secret Service’s Battle to Hobble the Hackers

  The August indictments of three individuals allegedly responsible for the theft of 130 million credit and debit card numbers in the Heartland Payment Systems Inc. data breach made headlines across the world. Yet little attention is paid to the laborious investigative work needed to track down the criminals behind these …
• 20 October

  ‘A Major Pivot’ for Revolution Money As It Shifts Its Focus to Issuers

  There's some evolution going on at Revolution Money Inc., the low-cost PIN-based credit card and electronic-payments venture. In announcing on Tuesday that Fifth Third Bancorp would be a RevolutionCard issuer, Revolution Money revealed a new focus on building its cardholder base and disclosed another $20 million venture-capital investment on top …
• 19 October

  Tempo Boosts Decoupled Debit With New Technology, New Issuer

  Making good on a promise last spring that new developments were in the works, specialty debit processor Tempo Payments Inc. on Monday unveiled a new software-as-a-service platform and three MasterCard-branded decoupled debit card programs. Issued by First Bank & Trust, the cards are the first Tempo-affiliated cards issued by a …
• 16 October

  Amazon’s Mobile-Payments Boss Expects Fast Traction for Service

  It won't be long before more merchants sign on to Amazon.com Inc.'s new Amazon Mobile Payments Service (MPS), according to the man who heads up the mobile-payments venture for the world's largest online retailer. “Reaction's been very positive,” Howard Gefen, director of Amazon Mobile Payments, tells Digital Transactions News. “We …
• 15 October

  A Pair of Mobile Merchant Apps Debut with Tech Twists

  Two new payment applications debuted this week to allow plumbers, pizza-delivery services, and other mobile merchants to accept card transactions on mobile phones. The new apps, from Charge Anywhere LLC and TSYS Acquiring Solutions, follow in line behind a steady flow of such products that have launched this year. But …
• 15 October

  Report: Prepaid Issuers Must Upgrade Systems to Pass Stiff Tests

  A new report from Aite Group LLC gives some insights into how open-loop prepaid card processors work. And building on strengths and correcting weaknesses will be key as the recession, the specter of government regulation, and growth opportunities abroad challenge processors to improve, according to the report. Aite analyst Adil …
• 14 October

  A Startup Does Medical Payments on an Online Bill-Pay Model

  A new approach to facilitating electronic payments with health-care service providers is being developed by Redwood City, Calif.-based Health Team Inc. Founded earlier this year by executives with backgrounds in online banking and bill-payment services, Health Team developed the HealthRails.com network on concepts similar to online bill pay. Currently in …
• 13 October

  Launch of Mobile Services Could Reignite Growth for Remote Capture

  After a rough year that saw its momentum slow somewhat, remote deposit capture could be poised for faster growth as banks and non-bank companies move into consumer and small-business markets, according to a new report. Indeed, growth rates for remote capture, a technology that allows businesses and individuals to deposit …