Digital Transactions Authoritative, insightful and timely information for payments professionals
Seeking to broaden its reach as it rolls out to merchants nationally, Vayusa Inc. has begun to recruit independent sales organizations to sell its MobileLime cell-phone-based loyalty and rewards system. MobileLime, which earlier this year signed its first merchant outside the Northeast, this week announced Vision Payments Solutions LLC, a …
Read More »Valista Gears New Software Release to M-Payments Trends
Hoping to take advantage of the related trends in mobile commerce toward so-called off-portal business and direct-to-bill payments, international m-payments processor Valista Ltd. has introduced a new version of its transaction-processing engine, which is aimed primarily at mobile-network operators and Internet Service Providers. The latest release of the engine, called …
Read More »Tiny LendingTools.com Has Big Ambitions for National Image Exchange
A small Wichita, Kan.-based software company is getting set to take a big step in bringing image exchange to small financial institutions around the country. Starting with the north central region of the U.S., LendingTools.com Inc., a provider of Web-based systems for image processing and origination of automated clearing house …
Read More »Wal-Mart Claims Its Bank Could Stop Transactions for PCI Non-Compliance
Critics blasted away at Wal-Mart Stores Inc.'s plan to open a Utah industrial loan corporation for most of three days in late April, and now the world's biggest retailer is firing back. Wal-Mart filed a 14-page letter earlier this month with the Federal Deposit Insurance Corp. addressing the major concerns …
Read More »Newly Private iPayment Logs Profit Jump, Points to CardSystems Fallout
The final quarterly filing from iPayment Inc. as a public company contains a report of a double-digit gain in profit at the Nashville, Tenn.-based merchant acquirer as well as a terse reference to what amounts to continuing fallout from the huge data breach last year at Atlanta-based merchant processor CardSystems …
Read More »Image Volume Ramp-up in ’06 Beats SVPCO’s Own Projections
A faster-than-expected ramp-up in transaction volume is forcing the country's largest image-exchange network to refigure its growth projections. The Image Payments Network, operated by SVPCO, a unit of New York-based The Clearing House Payments Co. LLC., handled 35.2 million check images in April, up 20.6% from March, according to statistics …
Read More »NACHA Approves Back Office Conversion of Point-of-Sale Checks
NACHA announced today it has approved a new form of electronic check conversion that will allow retailers to turn bundles of checks into automated clearing house debits in a central location, or back office. Known as back-office conversion, the new application will take effect March 16, 2007, the Herndon, Va.-based …
Read More »Patent in Hand, Yahoo! Moves Toward a P2P Payments Product
Online search giant Yahoo! Inc. is developing what appears to be a person-to-person payment service and may be weeks away from introducing it, but details of the new service remain unclear. A spokesperson for Yahoo! told Digital Transactions News this week the Sunnyvale, Calif.-based company was “not ready to discuss” …
Read More »In Wake of Big PIN Breach, Visa Tightens Debit-Fraud Controls
At a time when debit card fraud is generating unwelcome headlines, Visa USA is taking two new steps to enhance its information about fraud involving payment cards that rely on personal identification numbers for security. With the goal of spotting fraud trends early and keeping overall fraud under control, Visa …
Read More »As Its IPO Awaits, MasterCard Logs Strong Results, Names Directors
With its long-expected initial public offering of stock fast approaching, MasterCard Inc. reported strong results for the first quarter and indicated it expects its stock to sell for between $40 and $43 per share. It also named six new directors who will join its board of directors after it becomes …
Read More »