Friday , March 29, 2024

Pricing

Bill Payment Likely to Be a Key Function of Wal-Mart MoneyCard

Electronic bill payment is a key function Visa USA is expecting holders of the new Wal-Mart MoneyCard prepaid plastic will use the product for. According to Visa, nearly 20% of purchase transactions on its existing reloadable prepaid products are bill payments. The MoneyCard, which is issued by GE Money Bank …

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PropertyBridge Brings PIN-less Debit to Residential Rent

PropertyBridge Inc., which handles electronic rent payments on behalf of property managers, plans to launch next month a recurring PIN-less debit option. It is processing some PIN-less transactions now in a test, or so-called “beta,” mode, for an unnamed property-management firm, says Jason Gardner, president of the Oakland, Calif.-based company, …

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Will MasterCard Win, Cap One Card Unleash Debit Brand Switching?

MasterCard Worldwide received a double dose of good debit news last week. First came the news that big credit card issuer Capital One Financial Corp. is rolling out a MasterCard-branded rewards debit card that doesn't require the cardholder to have a deposit relationship with Cap One (Digital Transactions News, June …

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USA Technologies And Coke Bottler Strike Biggest Vending Deal Yet

In the largest agreement so far for deployment of vending machines accepting mag-stripe and contactless cards, USA Technologies Inc. has been awarded a three-year contract that includes supplying card readers for up to 7,500 machines operated by Coca-Cola Enterprises Inc., the world's biggest Coke distributor, in cities across the country. …

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MPI Case May Not Be the Last ISO Action, FTC Says

A recent case filed by the Federal Trade Commission against an independent sales organization in Beaverton, Ore., may not be the last such action the federal regulator will bring. In April, the agency sued Merchant Processing Inc. in federal court, alleging the ISO duped merchants by promising to buy out …

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Why Synovus Is Optimistic About NACHA’s Secure Vault Payments

Unlike its experience with online bill payment, Synovus Financial Corp. expects ultimately to generate significant revenue from a new Internet payments system based on the automated clearing house for which a 12-to-18-month pilot will start by October. Exactly how much revenue, however, may depend on the pilot itself, as well …

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NACHA Will Soon Unveil Pricing for Its Online Payments Pilot

NACHA-The Electronic Payments Association expects to release pricing details in about two weeks for its long-awaited online-payments pilot, an official working on the project says. The details will set out a form of interchange fee merchants' banks will pay to banks that will authorize transactions and authenticate consumers, as well …

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On Interchange, the NRF Turns to the States, Underscoring Sales Tax

If regulation can't be avoided, national trade groups often prefer federal regulation over regulation by states on the theory that one set of rules is less costly and easier to comply with than 50 different sets of rules. But when it comes to interchange, the National Retail Federation is challenging …

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Star To Test PIN-less Debit for Online Micropayments

With the aim of expanding the debit card's reach into the booming world of Web-based micropayments, the Star electronic funds transfer network plans to start testing PIN-less online debit payments within a few weeks. The test will run about four months and involves Solana Corp., which will act as an …

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Wal-Mart Goes Chainwide with POP in Bid to Cut Payment Costs

Rejected by many retailers, the point-of-purchase electronic-check code has one fan that really counts: Wal-Mart Stores Inc., the world's largest retailer. Bentonville, Ark.-based Wal-Mart expects the last 300 of its approximately 3,400 U.S. Wal-Mart locations to go live with the automated clearing house payment option next Monday. Wal-Mart's push behind …

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