The movement from paper-based to electronic payment is happening even faster than the Federal Reserve expected, and as a result the central bank is cutting its estimate of check volume while raising its check-processing fees. Effective Jan. 2, the Fed's fees for check services will go up by a blended …

MasterCard is evaluating the next step for its contactless payment program following the conclusion of its PayPass test using a chip-based card in Orlando and as it nears the conclusion of a test involving the use of cell phones as a payment device in Dallas. The card company is expected …

A company offering a biometric-based technology that allows consumers to pay at the point of sale without presenting a card, keyfob, token, or any other payment media has installed a new management team and is laying plans for a major expansion in 2004. San Francisco-based Pay By Touch is running …

A service that has been in alpha test for the past three months to allow consumers to make micropayments for entertainment services is expected to be rolled out in the next month. Early participants in the service offered by Waltham, Mass.-based Peppercoin Inc. include Music Rebellion, an online service that …

A Web-based payments transaction processing program has been growing at about 400% annually since it branched out beyond the hospitality industry. When Las Vegas-based Shift4 Corp. developed its $$$ on the Net system for nearby resorts five years ago, the system was designed to allow the hotel, gift shops, casinos, …

The state of Iowa is in the final stages of its statewide rollout of debit cards to recipients in the state’s food-stamp program, a year later than an Oct. 1, 2002, deadline mandated for all states in federal legislation passed in 1996. Only California among the 50 states now remains …

A technology firm is rolling out an Internet-based debit-card shopping program that relies on merchants to foot the cost of card readers. The program developed by Atlanta-based Kryptosima, a subsidiary of InstaPay Systems, will start with the Armed Forces Financial Network (AFFN) electronic funds transfer network and several large online …

For years, retailers have sought ways to allow their customers to pay electronically while bypassing bank networks and fees. Now some fast-food franchisees are turning to proprietary smart cards–with or without interest from their corporate parents. Los Angeles-based TranStar Systems Inc. has either installed or has orders for systems in …

A new online payment system has been rolled out by a Canadian company that relies on existing bank bill payment services to allow consumers to pay for Internet purchases. Developed by Ottawa, Ont.-based MODAPay, the service has been piloted by all of the top banks in Canada and now is …

Does the motion filed last week by MasterCard in federal court against Visa signal a new era of real competition between the two card companies? The answer seems to be yes, but the question is whether it’s healthy competition. The motion seeks to stop Visa from enacting a “settlement fee” …