Digital Transactions Authoritative, insightful and timely information for payments professionals
PayPal Inc. on Wednesday said two more retail chains are rolling out PayPal acceptance in their stores. It also said its PayPal Here mobile-acceptance product, which it introduced in March, is now generally available to merchants in the U.S. and Hong Kong, markets where some 300,000 users have signed up …
July, 2012
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19 July
Mitek Fires Another Salvo in Battle with USAA Over Mobile Capture Technology
A pitched battle between two of the earliest players in the business of mobile check capture escalated on Thursday when Mitek Systems Inc. filed a legal motion accusing USAA of defamation and unfair business practices. Mitek’s action is the latest salvo in a case in which San Antonio, Texas-based USAA …
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16 July
Not All Merchants Are Happy with the $7-Billion-Plus Credit Card Settlement
No sooner had the ink dried on a proposed settlement of a massive credit card suit than cracks began to appear in what had been an edifice of merchant solidarity. The NACS, a national trade group for convenience-store operators, on Friday said its board of directors had unanimously rejected the …
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13 July
PayPal Says It Will Process Payments for GE’s Electric-Vehicle Charging Stations
PayPal Inc. announced on Thursday it will process payments when owners of electric vehicles charge up their cars at charging stations maintained by GE Industrial Solutions, a unit of General Electric Co. In what amounts to yet another venture into the physical point of sale for PayPal, the e-commerce processing …
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13 July
Durbin or No, First Data Figures Show Debit Continues To Flourish
Worried about getting too far in debt and nearly oblivious to the ongoing debate in the banking and payments industries about the controversial Durbin Amendment, consumers in June continued to display their allegiance to debit cards, according to new figures from First Data Corp. The nation’s leading payment card processor …
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13 July
Merchants Wring More Than $7 Billion out of Networks, Banks in Credit Card Settlement
The card networks, major U.S. banks, and U.S. merchants reached a $7-billion-plus settlement late on Friday, capping a seven-year battle over credit card interchange and network acceptance rules. If approved by the court, the settlement will be the largest such agreement ever in an antitrust case. Under the terms of …
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11 July
Brooklyn Court Could Be More Inclined to Rule Reform Than Interchange Cuts
With a trial date looming in September, speculation is rising that a major antitrust case challenging credit card interchange will result in new rules handing merchants wider latitude in surcharging for transactions, routing payments, and steering customers to other cards or forms of payment. Settlement talks in the case, known …
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10 July
Heartland Goes To School for New Payment Opportunities
School lunches often draw fire from students, who want tastier fare, and parents and nutritionists, who want healthier meals. But for merchant acquirer Heartland Payment Systems Inc., food service in schools is proving to be a profitable new payments niche. Princeton, N.J.-based Heartland on Monday said it had acquired LunchByte …
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9 July
Mobile Payments Take a Big Jump in Popularity, Survey Finds
The subject of vast amounts of hype, mobile payments are in fact becoming reality for many consumers. New findings from IDC Financial Insights show that 33.9% of consumers have made purchase on a mobile phone, up from only 19.3% in a similar survey last year. Mobile payments will further penetrate …
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9 July
JetPay, EMS Acquired by New Company Founded by Payments Veteran Bipin Shah
A new company run by electronic-payments veteran Bipin Shah announced on Monday it has agreed to buy two merchant processors and a payroll-processing company for a total of $179 million in cash and stock. The acquisitions are part of a strategy followed by Radnor, Pa.-based Universal Business Payment Solutions Acquisition …