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Nearly 4,000 gasoline stations branded by Shell Oil Co. have so far adopted a technical change from Visa USA that allows merchants to cut off delivery of a product on a prepaid card transaction as soon as the funds in the account are exhausted. Shell plans to roll out the …
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Pulse Takes Aim at the ACH with New Recurring PIN-less Service
Pulse EFT Association LP, which has become the latest electronic funds transfer network to introduce a commercial PIN-less debit service that allows cardholders to make recurring payments to certain billers, sees the service as a way to take payment market share from the automated clearing house network. “It's a great …
Read More »How Vending Payments Could Benefit from the Change in Reg E
The nascent market for electronic transactions in self-service machines should get a sizable boost from a Federal Reserve rule change set to go into effect Aug. 6, an industry observer notes. The rule change could also foster the development of contactless transactions at these machines, laying the groundwork for payments …
Read More »Card-Based Bill Payments Take Another Step with Billeo Product
Billeo Inc., whose software streamlines online bill payment for consumers, this week announced new product enhancements that the Santa Clara, Calif.-based company hopes will allow banks to earn more bill-payment revenue. It also extends the company's reach into online shopping with a new software component that automatically fills out online …
Read More »Eyeing Decoupled Debit Cards, Tempo Begins Wooing Bank Issuers
With an eye to Capital One Financial Corp.'s introduction last month of a so-called decoupled debit card product, which relies on settlement through the automated clearing house network and so does not require cardholders to have a demand-deposit account with Cap One (Digital Transactions News, June 7), debit network sponsor …
Read More »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 …
Read More »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 …
Read More »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 …
Read More »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 …
Read More »PropertyBridge Brings PIN-less Debit to Residential Rent
PropertyBridge Inc., which handles electronic rent payments on behalf of property managers, plans to launch next month a recurring PIN-less debit option. It is processing some PIN-less transactions now in a test, or so-called “beta,” mode, for an unnamed property-management firm, says Jason Gardner, president of the Oakland, Calif.-based company, …
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