Digital Transactions Authoritative, insightful and timely information for payments professionals
The top two executives of merchant acquirer Heartland Payment Systems Inc. on Thursday painted a picture of a company on the mend in the wake of the big data breach it disclosed in January. But the recession and the far-from-over effects of the breach still took a toll on the …
May, 2009
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6 May
Travelex Gives a Lift to MasterCard’s Year-Old Debit Platform
MasterCard Inc. is getting a big boost from The Travelex Group, a multinational distributor of travel-related prepaid cards. Under a deal announced last week, Travelex will convert its payment card network brand to MasterCard and process card transactions on MasterCard's year-old debit processing platform called Integrated Processing Solutions, or IPS. …
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5 May
By Snapping up Commerciant, BankServ Enters Mobile Market
Specialty payment processor BankServ, one of the pioneers of remote deposit capture, is preparing a move into the mobile-payments market thanks to its recent acquisition of the assets of Commerciant LP. Houston-based Commerciant offers merchants wireless payments software and a unique wireless terminal that scans checks and takes credit card …
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5 May
With Tri-Mode M-Banking, mFoundry Eyes High Growth
In a move to simplify solutions in the rapidly changing mobile-banking market, mFoundry Inc. has added enhanced capabilities to its m-banking product. It now offers text banking (SMS) and alerts, as well as support within the mobile web browser (WAP). The two new modes join mFoundry's mobile applications-based downloadable solution …
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4 May
Sour Economy, Costs Pressure Billers to Push Harder for E-Bills
Hammered by rising payment-infrastructure costs and a deteriorating economy, billers are starting to push customers harder to receive bills electronically rather than by paper. The rising tide of home foreclosures, indeed, serves as a wakeup call to billers that aren't looking at electronic bill presentment, since it's getting harder to …
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1 May
Debit Cards Propel What Growth There Is for MasterCard And Visa
Despite the economic downturn and softening volumes, MasterCard Inc. put in a “solid” first quarter, Robert Selander, MasterCard president and chief executive, said early Friday. “Our volumes have been impacted by significant headwinds, such as slower cross-border travel, lower gas prices, and an appreciating dollar,” Selander said at an analysts' …
April, 2009
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30 April
Merchant Group Pushes Card-Security Standard in Parallel to PCI
A payments-focused group of heavyweight merchants is emerging from obscurity to push for new standards to protect credit and debit card data. But just how these standards would complement or possibly conflict with the existing Payment Card Industry data-security standard (PCI) remains unknown. The organization, called the Merchant Advisory Group, …
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29 April
How Nokia’s New Phone Could Be a Shot in the Arm for NFC
Its ultimate significance may prove to be months away, but a new handset introduced last week by Nokia has some mobile-payments observers expressing hope that talk of mobile transactions at the point of sale may now be more realistic. “It is definitely something that will move the conversation along,” says …
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29 April
EBay Boss Says PayPal Will Exceed One-Third of Company in ’09
It's been implicit for a while, but eBay Inc. on Wednesday made it clear that it has big hopes for its PayPal payments subsidiary as the company evolves from its core Internet auction business. “PayPal's opportunity and its niche is to power all of e-commerce,” eBay president and chief executive …
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28 April
CyberSource: Online Fraudsters Clipped Airlines for $1.4 Billion
Airlines lost more than $1.4 billion to online fraudsters in 2008, representing about 1.3% of their Web-generated revenues. Those are two key findings from a first-of-its-kind survey about air carriers' Internet-related fraud. Mountain View, Calif.-based CyberSource Corp. commissioned the survey with Airline Information LLC, which produces conferences and publications about …