Digital Transactions Authoritative, insightful and timely information for payments professionals
While 2007-08 holiday-season spending overall fell short of expectations, e-commerce sales soared, according to final numbers compiled by Dallas-based processor Chase Paymentech Solutions LLC. Ten online merchants for which Chase Paymentech processes transactions saw their total traffic jump 29% for the season, to 108.4 million transactions. Dollar volume grew at …
January, 2008
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14 January
Banks Comfortable with Prepaid Cards–Possibly Too Comfortable
Financial-institution issuers of prepaid cards usable on general-purpose payment networks such as Visa and MasterCard are making money, but they may be missing opportunities by not exploring new market niches or checking out networks other than the one they already use. Those are some of the findings released Monday from …
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10 January
A Pared-Down Pay By Touch Takes Bids for ‘Non-Core’ Units
Biometric-authentication and loyalty-services technology provider Pay By Touch is in bankruptcy, has cut costs drastically, and is shopping some of its subsidiaries, but the company's former chief executive–who is now a member of the firm's newly constituted board of directors–says Pay By Touch is solid at its core. “This company …
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10 January
Mocapay Readies for a National Rollout of Its M-Commerce Service
Fledgling mobile-payments processor Mocapay Inc., which has been handling transactions for about 200 merchants in the Boulder, Colo, and Cincinnati areas, plans to launch a national rollout of its service this spring, the company's chief marketing officer tells Digital Transactions News. The 2-year-old company plans to complete work on its …
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9 January
With Its Fiserv Deal, Viewpointe Sees a Big Year for Image Sharing
After a year in which networks that traffic electronic check images racked up big volume gains, the concept of sharing?rather than exchanging?images took center stage this week with the news that Fiserv Inc. will make its proprietary image archive part of the massive storehouse of images maintained by Viewpointe Archive …
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9 January
Consumers Want Just One Account for NFC Payments, Survey Says
Many consumers seem willing to use their cell phones or other mobile devices for in-store payments, but the majority wants to have only one credit or debit card account enabled for wireless payments, according to new findings from New York City-based technology research firm ABI Research. The preference for just …
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8 January
Citibank’s ATM Restriction Spotlights Rising Withdrawal Limits
A recent effort by Citigroup Inc.'s Citibank to minimize the effects of a spate of fraud by cutting some customers' daily ATM withdrawal limits in the New York City area has cast some light on a dim corner of the payment industry. Daily withdrawal limits on ATMs are up dramatically …
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7 January
USA Technologies’ Rental Program Boosts Contactless Vending
USA Technologies Inc.'s new Quick Start program, which lets bottlers and other vending-machine owners rent rather than buy its e-Port G6 readers that process magnetic-stripe and contactless card transactions, apparently is delivering the desired lift to e-Port shipments. Malvern, Pa.-USA Technologies today reported that it shipped 7,123 e-Port devices in …
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4 January
A Rising Imaging Tide Lifts ECCHO’s Roster Past the 1,000 Mark
As the electronic exchange of check images grows, so too does membership in the Electronic Check Clearing House Organization, or ECCHO, a Dallas-based nonprofit banking-industry group that develops rules for image exchange and electronic check presentment. ECCHO president and chief executive David Walker tells Digital Transactions News that membership more …
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3 January
A Big BOC Processor Looks for Big Growth for the E-Check in 2008
Introduced only last March, the back-office conversion (BOC) e-check application is poised for a big year in 2008, according to a check-services vendor that is processing more than one-third of all BOC volume. “We think there's going to be big growth for BOC in 2008, and we're going to be …