Digital Transactions Authoritative, insightful and timely information for payments professionals
The deal may be expensive, but Online Resources Corp. expects its definitive agreement to buy bill-payment provider Princeton eCom Corp. to position the combined firm for future growth as electronic bill payments gain favor with consumers and companies. Chantilly, Va.-based Online Resources announced the $180 million cash deal this week …
May, 2006
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8 May
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 …
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5 May
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” …
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4 May
Heartland Drives up Net with Expanded Merchant Base, Card Volume
Heartland Payment Systems Inc., one of the few publicly traded independent sales organizations, today reported its revenues jumped 39% in the first quarter, to $236.8 million, on a 34% increase in transaction volume, to $9.2 billion. Net income for the period came to $4.39 million, a 63% increase. The Princeton, …
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3 May
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 …
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2 May
Survey: Youth Market Not Sold on Mobile Payments, After All
The youth market may not be the slam dunk for mobile payments that payment processors, card issuers, and merchant acquirers have thought it would be. According to survey results released this week, some 62% of persons aged 16 to 43?the so-called Gen X and Gen Y?say that using cell phones …
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2 May
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 …
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1 May
Eye on RFID: Utah Transit, Arby’s Plan for Contactless Payment
The Utah Transit Authority in November will begin accepting contactless payment tokens in a pilot project that will represent the first use of contactless technology to process bus fares in the U.S. The Salt Lake City-based transit agency in September will begin equipping 41 buses that ferry passengers to local …
April, 2006
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27 April
MX Telecom Looks for Rapid Growth in SMS-Based Mobile Payments
The recent launch of mobile-payment services based on short-message service (SMS) transmissions is casting a spotlight on specialist gateways that provide links from payment processors to wireless carriers. One, MX Telecom Inc., counts among its clients both PayPal Mobile, which PayPal Inc. launched earlier this month (Digital Transactions News, April …
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26 April
Phishing Hits Record Levels As Malware, Redirectors Proliferate
Phishing hit an all-time high in March, with the number of reports of the online fraud reaching 18,480, according to the Anti-Phishing Working Group, which follows the trend. That's 603 more than the previous peak in January and more than 1,300 more than in February, the group reports. By way …