Digital Transactions Authoritative, insightful and timely information for payments professionals
PayPal Inc. 2-year-old campaign to diversify its transaction-processing business beyond the online auction marketplace of its parent, eBay Inc., is starting to show results. Some 37% of the processor's payment volume in the three months ended Sept. 30 came from merchants outside of eBay, up from 32% in the year-earlier …
October, 2006
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24 October
FDC Spiffs up Merchant Service, Deploys 11,000 FD-100 Terminals
First Data Corp. chairman and chief executive Henry C. “Ric” Duques on Tuesday painted a rosy picture of the downsized card processor during his first earnings conference call since the recent spin-off of First Data's largest division, remittance kingpin Western Union Co. Greenwood Village, Colo.-based First Data posted net income …
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23 October
First Data Hopes New Box Will Help It Plug Into Smaller Merchants
Beyond a recent press release, First Data Corp. hasn't made a huge public splash about its new payment terminal, the FD-100. Yet the terminal is not just a box that processes payment card transactions. It's an element of First Data's multipronged strategy to get more business from small and mid-sized …
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20 October
Rewards Account for 44% of Interchange Cost, Report Concludes
The costs of air miles and other perks and rewards account for 44% of bank card interchange, while card issuers' cost of funds and profit margins take 35%, and network branding efforts account for 3%, according to a new report issued this week. Just 13% of the acquirer-paid fee goes …
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19 October
Operator Deals, NFC Could Help Obopay Stand out in Crowded Field
Seeking to distinguish itself in a growing crowd of mobile-payment processors, Obopay Inc. saw its application go live this week on Amp'd Mobile Inc., a wireless network aimed at the youth market. This development follows by one week an agreement the Redwood City, Calif.-based startup struck with ViVOtech Inc. that …
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18 October
Yodlee Aims at Big Adoption for M-Banking, M-Payment Service
Yodlee Inc., which on Tuesday introduced a mobile version of its online-banking applications, expects the new product to attract between 5 million and 6 million users within the next three years, according to Aashir Shroff, senior product manager for Yodlee Mobile. The service, which allows banks to offer customers the …
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18 October
TSYS Battered But Not Broken, Top Execs Say, Citing New Business
Top executives of card processor Total System Services Inc. (TSYS) on Wednesday portrayed a company that may be a bit bruised but is heading for better times. Columbus, Ga.-based TSYS even upped its 2006 profit projections and says earnings next year won't decline as much as previously forecast. TSYS late …
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17 October
Visa: Too Early to Tell How Restructuring Will Impact Interchange
The reorganization of the Visa bank card association will allow the resulting company to invest in new payments technologies and cultivate promising new acceptance markets, but the ultimate impact on the way the business sets interchange pricing is unknown, says a spokesperson for Visa International, the umbrella organization that has …
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16 October
Content Sales Surge for Qpass As Games, Video Push up Tickets
Qpass Inc., whose software handles mobile-commerce transactions for wireless networks, processed almost $500 million in digital-content sales, up 50% over the like period in 2005, according to Amdocs Inc., Qpass's parent company. Transaction volume grew at an average quarterly rate of 12% in the period, Amdocs said. The St. Louis-based …
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13 October
CheckFree Leverages Existing POS Gear for Walk-in Bill Payments
Looking to bolster its business with retailers, Atlanta-based CheckFree Corp. this week unveiled its CheckFreePay Link service aimed at helping stores draw more walk-in traffic by offering bill-payment services for local utilities and other billers. CheckFree Pay's existing CheckFreePay network has 11,000 agent sites located in check-cashing outlets, grocery stores, …