Digital Transactions Authoritative, insightful and timely information for payments professionals
Open-fare payments for public transportation got a big boost when the Chicago Transit Authority announced it had awarded a $454 million, 12-year contract to Cubic Transportation Systems to build and maintain a payment system that accepts contactless cards. The CTA, which provides about 500 million rides a year, thus …
November, 2011
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17 November
MasterCard And Intel Look for Near-Term Results from E-Commerce Deal
The alliance MasterCard Inc. announced earlier this week with Intel Corp. to secure e-commerce transactions will not supersede SecureCode, a MasterCard online authentication system, but will fairly soon lead to a new type of contactless-payment device from an emerging category of ultra-thin, fast-start PCs, executives with both companies tell Digital …
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16 November
Visa’s Digital Wallet Coming in Early ’12, But Contactless Will Follow Later
Visa Inc. will launch its digital wallet product some time early in 2012, but contactless-payment capability won’t be part of the wallet until the second half of the year, a Visa executive responsible for the product tells Digital Transactions News. The first release of the wallet, which Visa is …
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15 November
Xoom Launches a Mobile Site to Further Streamline Online Remittances
n While the mobile service just launched, early results have been “overwhelmingly positive,” says Julian King, Xoom’s senior vice president of marketing and corporate development. “Out customer base is delighted, but it’s super early.” The new service relies on technology from mobile-commerce vendor Usablenet Inc., New York. n The …
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15 November
After Revamping Its Process, PCI Council Unveils New Interest Groups
n n n n n n n n n Besides generating recommendations and advice applicable immediately, Russo expects the SIGs will develop insights that find their way into the next major update of the existing PCI version 2.0. Version 3.0 will be unveiled in late 2013 and take effect …
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14 November
Mitek Snaps up Customers As Demand for Mobile Imaging Grows
Mobile-deposit and imaging software provider Mitek Systems Inc. said it doubled to 161 the number of financial-institution customers of its flagship Mobile Deposit product in its fourth fiscal 2011 quarter from 80 in the third quarter. The nation’s top five banks and seven of the top 10 now use or …
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10 November
With Signs of an Improving IPO Market, Payment Processor Vantiv Preps To Go Public
Vantiv Inc. filed a registration statement on Thursday for a proposed initial public offering of common stock that, if successful, would have a business started by Fifth Third Bancorp join the thin ranks of publicly traded processors that get most of their revenues from merchant acquiring. Vantiv, formerly known as …
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10 November
Star Agrees To Offer Online PIN Debit Service from CardinalCommerce
The Star EFT network, which has been working for several years on ways to enable cardholders to conduct PIN-debit transactions with online merchants, said on Thursday it will offer a service from CardinalCommerce Corp. that promises to allow issuers to choose how to authenticate users of PIN-debit cards in …
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9 November
With an Android App Upgrade, PayPal Launches Its First NFC Product, A P2P Widget
In the wake of strong growth in its mobile-payments business, PayPal Inc. on Tuesday made available an upgraded Android app that includes a widget for person-to-person payments using near-field communication (NFC) technology. The launch represents the San Jose, Calif.-based e-commerce processor’s first live product based on NFC, a short-range …