News

October, 2011

• 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 …
• 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. …
• 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 …
• 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 …
• 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 …
• 12 October

  Partisans Quickly Take Sides Over Plan To Repeal the Durbin Amendment

  The unceasing controversy over the Durbin Amendment and its debit card interchange price controls continued Wednesday when two members of Congress declared they would introduce legislation to repeal the measure. The Republican-controlled House of Representatives might very well pass the bipartisan proposal, but its survival chances are much lower in …
• 12 October

  PayPal Access Debuts to Streamline User Enrollment on E-Commerce, Mobile Sites

    n To use PayPal Access, a site must sign up for a PayPal account but is not obliged to accept PayPal. The new system then gives the site access to some 100 million active PayPal users, who can control how much information they want to share. If a user …
• 12 October

  PayPal Plans to Issue a Card for POS Use Starting First Half of 2012

    PayPal Inc., a dominant processor of e-commerce transactions, has made no secret lately of its ambitions to move into the world of brick-and-mortar commerce. The only missing element was a physical token that account holders could use at the point of sale. Now it appears that void will soon …
• 10 October

  Durbin Continues Blasting BofA Debit Fee with ‘No Way BofA’ E-mail Campaign

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• 7 October

  A Vending Machine Payment Processor Hopes To Preserve Interchange Incentive

  Apriva Inc., a major processor of payment transactions from vending machines, this week told machine owners that it is working to assure their card-acceptance costs will remain stable despite the uncertain status of a program it has with Visa Inc. that gives them an interchange break if they install hardware …