Digital Transactions Authoritative, insightful and timely information for payments professionals
Nearly half of consumers are interested in using mobile wallets, and they are not necessarily wedded to wallet products from banks, according to research released on Monday. Indeed, some 48% of U.S. consumers surveyed online in April said they are interested in mobile wallets. Of these, 80% expressed a preference …
June, 2012
May, 2012
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31 May
Startup Claims More Than 1,000 Developers for Streamlined in-App Payment Plug-in
A startup called Zooz this week announced it has registered more than 1,000 developers for a payment plug-in that, the company says, streamlines card-based payments while users are within an app. Zooz, whose product is available for both Android and Apple iOS devices, also launched an HTML5 version to allow …
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30 May
Groupon Doubles Down on Its POS Thrust with Acquisition of Hospitality App Startup
Groupon Inc. redoubled its efforts to penetrate the point-of-sale market with its acquisition of New York City-based software startup Breadcrumb, whose product lets restaurants run transactions on iPad tablets. The deal, announced on Tuesday, follows news that the Chicago-based daily-deal giant is testing a mobile-acceptance service in and around San …
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30 May
Hit by Durbin, Visa’s U.S. Debit Volume Shrinks by Double Digits in April
Visa Inc. has been saying for months that the Durbin Amendment’s transaction-routing and network-exclusivity rules, which took effect April 1, would take a bite out of its debit business. Gash might be a better word for the amendment’s initial effects, especially on the Visa-owned Interlink PIN-debit network. The No. 1 …
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29 May
Nordstrom Projects Rollout of Register-Like POS Handsets by Early 2013
High-end department-store chain Nordstrom Inc., which has been testing some 6,000 mobile devices for customer service and checkout, expects to roll out a significantly larger number of the devices in the first quarter of next year and to add as much capability to them as it has on its cash …
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29 May
ClearXchange Goes National But Faces Rivalry from PayPal, Fiserv
A year after its birth announcement, the clearXchange person-to-person payments platform finally is set for its first national rollout through a new service called Send & Receive Money from one of its three big-bank owners, Wells Fargo & Co. But clearXchange, whose other owners are Bank of America Corp. and …
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25 May
Reports Indicate Groupon Is Joining a Crowded Field of Mobile-Acceptance Players
Just as payments executives were preparing to plunge into the Memorial Day holiday weekend, reports emerged that Groupon Inc. is testing a mobile-acceptance application in and around San Francisco. The reports, which are based in part on a solicitation received via e-mail by a merchant, indicate that the Chicago-based daily-deal …
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24 May
Card-Not-Present Processor Litle Reports Durbin Has Cut Debit Interchange in Half
Online merchants and other card-not-present retailers that have so-called interchange-plus agreements with their acquirers are enjoying significantly lower transaction costs thanks to the Durbin Amendment, if research from processor Litle & Co. posted on Wednesday is any indication. Litle’s numbers indicate its client merchants have seen interchange costs cut in …
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24 May
PayPal Signs 15 New Retailers for POS, Plus Terminal Makers and App Developers
PayPal Inc. on Thursday announced that 15 more retailers had joined its point-of-sale initiative, which means the No. 1 alternative-payments provider is now more than three-quarters of the way toward meeting its stated goal of having 20 national retailers accepting PayPal at physical stores by the end of 2012. PayPal …
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23 May
Dodd-Frank’s Consumer Bureau Starts to Mull Regulations for Prepaid Cards
The federal government’s new Consumer Financial Protection Bureau fixed general-purpose reloadable prepaid cards in its regulatory sights Wednesday with a notice of proposed rulemaking and a public hearing in Durham, N.C., where its senior officials heard both praise for and condemnations of the cards. The CFPB said it would examine …