Thursday , November 26, 2020

Search Results for: POS system

AmEx, Metavante Undergird Cigna System for Medical Payments

Seeking to take some of the complexity out of medical payments and at the same time increase transaction volume, American Express Co. and processor Metavante Corp. have teamed up with insurance giant Cigna Corp. for a planned 2007 rollout of a system they claim will let patients know how much …

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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, …

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MasterCard Will Post Interchange Rates, Cap Fees for Gas Retailers

Bowing to merchant pressure, MasterCard Inc. said Tuesday it will publish its U.S. interchange rates on its Web site and cap interchange fees on certain gasoline purchases. The moves, which will include the first time either of the two major bank card associations has published its interchange rates publicly, follow …

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Will Old Risk to Credit Cards Threaten New ACH Web Proposal?

As an e-commerce payment system being developed for the automated clearing house nears a pilot scheduled for early next year, it may confront an old issue that sank an earlier such project: the potential for lost credit card sales online. That's according to an in-depth story on the ACH and …

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Big POS Merchants Now Face Stricter PCI Validation Rules

Large merchants whose card transactions are chiefly derived from physical stores, rather than the Internet, will now face stricter requirements for proving compliance with the Payment Card Industry data-security standard, according to an expert observer. With Visa USA this week introducing a revision of the volume bands by which it …

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Wachovia Exposes Latest Card Fraud, But More Banks Likely Ensnared

Wachovia Corp., some of whose debit card holders have been victimized by a data breach that happened several months ago, began sending notices and replacement cards to those customers recently because it began to see signs of fraud after months of monitoring the accounts, the bank says. Although Wachovia's action …

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An ACH-Image Proposal for Checks Roils Banks And Networks

A proposal to merge electronic check images with automated clearing house records, which first came to the fore at an industry trade show earlier this month, could become a reality?at least in a limited way–relatively soon. Backers of the plan, which include executives with at least two of the nation's …

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A BankAmericard Redux Poses Risks But Could Reap Rewards for BofA

The possibility that Bank of America Corp. could start its own payment card network and brand poses some big risks and would bring big expenses for the Charlotte, N.C.-based banking giant, though it could enable BofA to differentiate itself in a mature card industry, analysts say. Reports that BofA chairman, …

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Could Merchants Use POS Readers, M-Wallet to Skirt Interchange?

In building out a network of point-of-sale readers to accept their contactless cards and tokens, banks and their card associations could be creating an infrastructure that will also support payments based on new mobile-payment technologies like Motorola Corp.'s M-Wallet software that could bypass the lucrative credit card interchange system, one …

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Settlement with NCR Positions DataTreasury to Move into ACH and Cards

With its settlement today with NCR Corp., DataTreasury Corp. will be able to tap technology that will allow it to move beyond check processing and into technology supporting automated clearing house and card transactions, the company's lead counsel says. The small Melville, N.Y. technology company, which had sued NCR early …

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