Digital Transactions Authoritative, insightful and timely information for payments professionals
In a deal that underscores the growing importance of electronic billing and presentment, New York City-based private-investment firm Cerberus Capital Management has agreed to buy the Regulus and J&B Software payments units from India-based 3i Infotech Ltd. The deal, valued at $137 million, is expected to close within about …
May, 2011
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17 May
Pummeled in the Recession, Credit Cards Get Back on a Growth Track
After taking a nasty hit in the recession, credit cards are back on their feet, though somewhat wobbly. Figures from First Data Corp., the largest U.S merchant processor, show that credit card usage is sustaining growth after returning to positive territory in early 2010. Data from the bank card …
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12 May
Durbin Regs Will Take Effect, Though Possibly a Little Late And with Caps ‘Modified’
Like them or not, the Federal Reserve Board’s controversial debit card regulations to implement the so-called Durbin Amendment will take effect, though possibly a little late, according to Capitol Hill observers speaking at the Electronic Transactions Association’s annual conference Wednesday. In the meantime, a proposed 12-cent cap on debit interchange …
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12 May
Justice Department Seeks to Block VeriFone-Hypercom Merger on Antitrust Grounds
The U.S. Department of Justice filed suit Thursday to stop VeriFone Systems Inc. from buying Hypercom Corp., saying the proposed $485 million stock deal “would substantially reduce competition in the U.S. point-of-sale terminal market.” The DoJ said the current plan to sell most of Hypercom’s U.S. assets to the North …
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12 May
Social Networking Moves to the POS, Bringing with It New Interest in Deals
Marketing via social-network tools, long thought to be a feature primarily of e-commerce, is rapidly moving to the physical point of sale as merchants seek new ways to generate sales and independent sales organizations look for ways to differentiate themselves. This move to the point of sale, meanwhile, has been …
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11 May
Visa Announces an E-Wallet for Mobile, E-Commerce, and POS Transactions
n Visa Inc. announced on Wednesday a digital wallet aimed at increasing its share of transactions in mobile payments, e-commerce, and at the point of sale. n The digital wallet will store all the payment cards in a consumer’s wallet, including non-Visa branded cards, Jim McCarthy, Visa's head of global …
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10 May
Skrill Links up with Live Gamer for Global Micropayments Reach in Online Games
In another indication that micropayments are staging a comeback, Live Gamer Inc. and Skrill Holdings Ltd. on Tuesday announced an integrated platform that lets game publishers collect small sums from users around the world without chargeback or foreign-exchange risk. The integration also represents the U.S. debut of London-based Skrill, which …
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9 May
Eye on Mobile: Mitek Grows, Micros Adds Mobile, Visa Hints at Big News, Isis Reacts
The hype still abounds, but mobile payments and banking seem to be taking some concrete steps this week toward wider adoption. –Mitek Systems Inc., the leading developer of software for mobile remote deposit capture, on Monday announced that five of the nation’s 10 largest retail banks now use its flagship …
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5 May
U.S. EMV Pioneers Like Wal-Mart And SECU Are Gung-Ho, But Others Show Less Enthusiasm
At least some banks and merchants may be forging ahead into chip card payments, but presentations at an industry trade show this week leave doubt whether the rest of the industry is ready to follow. Wal-Mart Stores Inc. has now enabled all of its U.S. stores with terminals to accept …
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4 May
Isis Reportedly Quits Building Its Own Merchant Network To Focus on Wallet
The telecommunications companies that own the Isis mobile-payments joint venture have apparently given up on the idea of creating their own merchant network and instead are redirecting their efforts on a mobile wallet, according to a published report. If confirmed, the Isis move means that the existing payment card networks …