Digital Transactions Authoritative, insightful and timely information for payments professionals
Confirming other findings that payment card usage is picking up in the U.S., Visa Inc.’s credit and debit card dollar volume rose 9% in the network’s fourth fiscal 2011 quarter ended Sept. 30 to $516 billion from $474 billion a year earlier. Payment transactions increased 7.3% to 10.5 billion. Visa’s …
October, 2011
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25 October
Payment Firms’ Returns Belie the Economic Gloom
Shadows darken the recent economic news, but early third-quarter reports from payments-industry companies paint a much sunnier picture. The big card-issuer and merchant processor Total System Services Inc., for instance, on Tuesday said it was increasing its dividend by 43%, its first dividend increase in five years. Last week, Visa …
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20 October
More Retailers Offer Virtual Gift Cards, But Could Do a Better Job with Them, Report Finds
With the holiday season weeks away, more major retailers are now offering so-called virtual gift cards. But few make the experience of buying, sending, and redeeming the digital payment products easy or pleasant, according to a report issued this week. Some 59 of the 100 largest online merchants, ranked …
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19 October
PayPal Forecasts $3.5 Billion in ’11 Mobile Traffic While NFC Simmers
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19 October
Report: Poor Payments Practices Could Cost Top Online Retailers Potential Sales
More and more shoppers are turning to e-commerce, but online merchants’ payment practices leave them poorly positioned to exploit this trend for sales, according to a recently released report. Notably, the biggest online and multichannel retailers meet on average only 36% of criteria for payment options, according to Javelin …
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19 October
PayPal Getting “Steak Ready Before the Sizzle” on POS Moves, eBay Boss Says
PayPal Inc. will pilot its latest move to the point of sale with an undisclosed merchant this quarter, add more merchants early in 2012, and establish merchant pricing for the service over the next three to six months, eBay Inc. chief executive John Donahoe told stock analysts on Wednesday. …
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17 October
USA Technologies’ Long-Time Boss Resigns Under a Cloud As Small-Ticket Threat Emerges
George R. Jensen Jr., founder and chief executive of USA Technologies Inc. (USAT), has resigned under a cloud, casting a pall of uncertainty over the provider of wireless payment hardware and networking services for vending machines just as new interchange schedules affecting small debit card transactions threaten to crimp …
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14 October
Survey Reveals Small-Bank Jitters About Regulation, Fraud, Rapid Change
Many community bankers say their payment revenues are declining, and they are bracing for hits from higher expenses from complying with regulations and from fraud while at the same time trying to ramp up new services such as mobile payments. The findings come from the Independent Community Bankers of …
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13 October
ATM ISOs Sue Visa And MasterCard over Surcharge Restrictions
A trade group of ATM independent sales organizations on Wednesday filed a proposed class-action lawsuit against Visa Inc. and MasterCard Inc. alleging that network rules illegally forbid them from imposing lower surcharges for ATM transactions that go over the rails of unaffiliated electronic funds transfer networks. Those anti-discrimination rules require …