Digital Transactions Authoritative, insightful and timely information for payments professionals
Discover Financial Services LLC, whose shares began trading on Monday on the New York Stock Exchange, is finally on its own as a corporate entity for the first time in its 22-year- history. But while the spin-off from parent company Morgan Stanley is complete, Discover's mission of gaining market share …
July, 2007
June, 2007
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28 June
With Coghlan Out, Will Merchant Focus Survive at Visa?
Now that the two top executives have been appointed to run Visa Inc., the massive entity that will emerge from a sweeping restructuring of the worldwide Visa organization, payments observers see more capability in place to deal with issues to come. But the departure of Visa USA head John Philip …
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28 June
Northwest Deal Lets PayPal Gain Altitude in Online Travel Sales
Alternative payments have penetrated the market for airline tickets with Northwest Airlines Inc.'s decision to accept PayPal on its Web site. The move by the major air carrier, which executes about 1,400 daily departures around the world, makes it the first airline to accept PayPal and gives the San Jose, …
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27 June
With an Eye on EFT, Fidelity Picks up eFunds with a $1.8 Billion Bid
The strategic review that payment processor eFunds Corp. disclosed May 9 ended today with the announcement that another processor, Jacksonville, Fla.-based Fidelity National Information Services Inc. (FIS), will buy e-Funds for $1.8 billion in cash. The purchase price of $36.50 per share represents a 5.5% premium over eFunds' Tuesday closing …
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26 June
The Fed Says Just Four Check Sites Will Handle Paper by 2011
After years of steadily reducing the number of offices processing checks, the Federal Reserve Banks announced on Tuesday they plan to have just four regional centers providing paper check processing services by March 2011. Since the Fed system began restructuring its check-processing operations in 2003, it has already cut the …
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25 June
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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25 June
Litigation, Divergent Europe Among Risks Visa IPO Faces
Like MasterCard Inc. last year and Discover Financial Services LLC later this week, Visa Inc. is preparing to become the third standalone, publicly traded payment network. But a registration statement Visa filed Friday raises plenty of questions about the risks the world's largest card network faces in a litigious and …
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22 June
Another Rival for NACHA?with an International Flair
Internet payments company Saf-T-Pay Corp. is about to roll out a system that taps consumers' demand-deposit accounts and bears similarities to those being promoted by NACHA?The Electronic Payments Association and tech company MODASolutions Inc. But Miami Beach, Fla.-based Saf-T-Pay says it has an easy-to-use solution that already is gaining credibility …
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21 June
How TransFirst’s New Boss Sizes up the Processor’s Opportunities
Former First Data Corp. executive John Shlonsky, who took over this week as president and chief executive of TransFirst LLC, says he plans to lead the Dallas-based transaction processor into a wide array of new markets with backing from the company's new owner, private-equity firm Welsh, Carson, Anderson & Stowe. …
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21 June
Verizon Deal Lends Impetus to Obopay’s M-Commerce Drive
Obopay Inc. on Thursday announced four new businesses for its mobile-commerce application, bringing to six the number of companies using the Redwood City, Calif.-based processor's service to enable payments via handsets. The news follows Verizon Communications Inc.'s decision to adopt Obopay's application for mobile payments on its wireless network, which …