Digital Transactions Authoritative, insightful and timely information for payments professionals
Banks are likely to continue testing debit card usage fees in the wake of the Federal Reserve’s new price controls on debit interchange, though such fees are generating heated debate about whether they make good business sense. “Disincenting consumers to use debit cards I just think is a terrible strategy …
August, 2011
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23 August
Responding to Merchant Demand, Shazam Prepares Dual-Message PIN Debit
n In a related move, Shazam is also testing applications written for both the iPhone and Android mobile operating systems that will let store staffers move away from checkout counters and use mobile devices to complete PIN-debit transactions anywhere on the sales floor. These apps will also become available …
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22 August
A Treasury Audit Criticizes the IRS About New Merchant-Reporting Requirements
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22 August
In a Shareholder Letter, S1 Seeks Support for Fundtech Deal And Fires Back at ACI
The heated rivalry between payment-software firms S1 Corp. and ACI Worldwide Inc. for the loyalty of S1’s shareholders took on yet more urgency on Monday as S1 urged owners of its shares to reject an offer from ACI. In a letter to shareholders seeking proxies in support of a proposed …
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18 August
With Durbin Forcing New Network Links, a Software Vendor Sees Opportunity
Looking to capitalize on opportunities fostered by recently created debit card regulation, Lexcel Solutions Inc. on Thursday announced an update to its network-testing software that is aimed at streamlining debit card issuers’ selection of new networks as mandated by the Federal Reserve. The Fed’s June 29 final rule implementing …
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16 August
In Buying Access to Money, Cardtronics Will Get Access to 10,350 More ATMs
Capping a wave of recent acquisitions, non-bank ATM network owner and manager Cardtronics Inc. announced late Monday that it had struck a definitive agreement to buy Access to Money Inc., a retail ATM network operator with 10,350 U.S. machines under management. Houston-based Cardtronics will pay $21.2 million in cash …
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15 August
How a Google-Motorola Combo Could Be ‘Good News’for NFC in the U.S.
At first glance, the nascent mobile-payments business doesn’t seem to be the major driver of Google Inc.’s $12.5 billion cash acquisition of cell-phone maker Motorola Mobility Holdings Inc. The deal, however, could spur payments using near-field communications (NFC) technology as software companies, phone manufacturers, and mobile-communications software companies jockey for …
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15 August
ADA Rules, Skimming, And Windows Conversion Are Top ATM Priorities, Study Shows
Bank ATM managers have slain one dragon, a transition to better data protection with the widespread rollout of the Triple Digital Encryption Standard. Some 99% of ATMs now use Triple DES, according to Aite Group LLC. But according to new survey results, ATM managers are still fighting several others, …
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15 August
By Going Directly to S1’s Shareholders, ACI Hopes to Scuttle Fundtech Deal
ACI Worldwide Inc.’s effort to acquire rival payments-software firm S1 Corp. took a more hostile turn on Monday when ACI said it will go directly to S1’s shareholders, asking them to scuttle a proposed merger between S1 and Fundtech Ltd. The move by Elkhorn, Neb.-based ACI, spelled out in …