Digital Transactions Authoritative, insightful and timely information for payments professionals
VeriFone Inc. will continue to be controlled by GTCR Golder Rauner LLC, a Chicago-based private equity firm, and its current chief executive, Douglas Bergeron, will continue to be a major shareholder even after the San Jose, Calif.-based point of sale terminal maker completes its proposed initial public offering of stock. …
January, 2005
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10 January
Half of Online Banking Customers Are Phishing Targets, Survey Shows
Half of online banking customers now receive fraudulent e-mails, known as phishes, and 78% say they are less inclined to respond to e-mails from the banks they do business with. That's according to a study released by New York-based security software company Cyota Inc. that illustrates how much worse the …
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7 January
WaMu’s Move to MasterCard Underlines Intense Card Competition
Washington Mutual Inc.'s decision to switch its 10.5-million-card debit portfolio to MasterCard International from Visa U.S.A., though a big win for MasterCard, doesn't necessarily herald a trend, observers say. At the same time, it throws into relief a bylaw Visa quietly put into place in 2003 that penalizes large debit-card-issuing …
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6 January
Visa Holiday Volume Up 15.7%, as Transactions Peak Christmas Eve
Visa reports the holiday shopping season generated a 15.7% increase in dollar volume on its card products compared to the same time last year, with volume reaching $218.7 billion on all Visa-branded cards in the Nov. 1 to Jan. 2 period. Consumer spending on the company's debit cards grew 26.2%, …
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5 January
TechTrans Begins Service to Deliver and Install ATMs for Makers
Technical Transportation Inc. announces it has added ATM support to its delivery service for high-value, heavy machines. The 15-year-old company, based in Dallas, says it will now deliver, install, and test ATMs, bringing them from manufacturer to location and working through a network of agents and technicians. The company says …
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5 January
USPTO Will Re-Examine CyberSource’s Patent at ReD’s Request
The United States Patent and Trademark Office has said it will re-examine a patent granted in 2000 to CyberSource Corp. that lies at the heart of a patent-infringement suit the Mountain View, Calif.-based processor filed last August against rival Retail Decisions PLC (ReD) and its U.S. operation, Retail Decisions Inc. …
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3 January
C-Store Chain Sheetz Is First Merchant to Adopt PayPass Chainwide
Sheetz Inc. will install MasterCard International's PayPass tap-and-go payment system in all 305 of its stores by March 1, the two companies have announced. Sheetz, a top-10 operator of convenience stores based in Altoona, Pa., says it hopes the radio-frequency-based system will add to customer convenience by cutting transaction time …
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3 January
Sovereign Re-ups with First Data for Merchant Processing
Sovereign Bank has renewed a merchant-processing contract with First Data Corp., the Denver-based processor has announced. The five-year deal represents an extension of Sovereign Merchant Services, which was established in 2001 as one of a number of alliance agreements First Data has concluded with banks in which FDC provides merchant-transaction …
December, 2004
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29 December
UnitedHealth Moves Toward 20 Million Cards for Claims, Payments
UnitedHealth Group is on track to issue as many as 20 million cards that consumers can one day use for a dual purpose: to handle eligibility verification and other point-of-care payment transactions and as a debit card to electronically access funds from a health-savings account. To date UnitedHealth has issued …
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28 December
iPayment Clinches a $130-Million Merchant Deal with First Data
Nashville, Tenn.-based independent sales organization iPayment Inc. expects on Friday to close on its $130 million cash acquisition of a merchant portfolio from First Data Corp. The portfolio consists of 25,000 small merchant accounts generating $9 billion to $10 billion in annual card volume. First Data Merchant Services will continue …