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ATM Direct, which this week announced agreements with an electronic funds transfer network and an Internet merchant to process PIN-secured debit card payments on the Web, has signed another online retailer, which will go live on its system in August, Robert Ziegler, senior vice president and general manager of the …
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Swiped Laptops Now a Threat in Data Breaches Plaguing Payments
The drumbeat of data-breach disclosures continued Friday with the news that information linked to about 65,000 individuals?including credit and debit card data–were exposed when a burglar broke into a locked office in a YMCA facility in Providence, R.I., last week and stole a laptop containing the sensitive member information. According …
Read More »A Boom Is Building in FSA Debit Cards, But Challenges Remain
Because of the efficiency, savings, and convenience they bring to a system traditionally choked with paper, debit cards linked to flexible-spending accounts (FSAs) are turning into a hot growth market in electronic payments. Issuers will put 6 million of the cards in circulation in 2006, up 50% over last year …
Read More »Wal-Mart Claims Its Bank Could Stop Transactions for PCI Non-Compliance
Critics blasted away at Wal-Mart Stores Inc.'s plan to open a Utah industrial loan corporation for most of three days in late April, and now the world's biggest retailer is firing back. Wal-Mart filed a 14-page letter earlier this month with the Federal Deposit Insurance Corp. addressing the major concerns …
Read More »NACHA Chairman Looks to Retry NREF, Will Push Internet Payments
The chairman of the board of NACHA, the rules-setting organization for the automated clearing house network, looks for widespread adoption of a new point-of-sale payment application the association approved this week and says the network will try again this year to introduce a controversial fee aimed at controlling risk. Chairman …
Read More »Image Volume Ramp-up in ’06 Beats SVPCO’s Own Projections
A faster-than-expected ramp-up in transaction volume is forcing the country's largest image-exchange network to refigure its growth projections. The Image Payments Network, operated by SVPCO, a unit of New York-based The Clearing House Payments Co. LLC., handled 35.2 million check images in April, up 20.6% from March, according to statistics …
Read More »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” …
Read More »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 …
Read More »TSYS CEO Says Processor Will Build on Ties to Defecting Clients
Putting his best spin on a tough situation, processor Total System Services Inc. (TSYS) chief executive Philip W. Tomlinson today said he regards the credit card industry’s top three issuers as prospects for future business, even as all three begin or plan to take tens of millions of accounts off …
Read More »Coghlan Tells ISOs Visa Will Be More ‘Flexible’ and ‘Responsive’
Speaking to an audience of merchant processors, acquirers, and independent sales organizations, Visa USA's president and chief executive today promised the giant bank card network will become more open to non-issuers and responsive to their concerns, including matters related to operating regulations and data security. Appointed only nine months ago …
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