Digital Transactions Authoritative, insightful and timely information for payments professionals

June, 2011

• 21 June

  An Industry Divide over Durbin’s Impact on PIN Debit for E-Commerce

  While the payments industry awaits stringent new rules concerning debit card transactions, some processors and technology players are starting to exploit what they see as opportunities in the new regulations. Acculynk Inc., for example, released last week a statement calling on Internet merchants to sign up now for online PIN …
• 21 June

  Congress Again Considers Legalizing Online Gambling

    n U.S. Rep. Joe Barton, R-Texas, is drafting legislation that would legalize Internet poker, a spokesperson tells Digital Transactions News. “This is a poker-only bill,” the spokesperson says. “He [Barton] looks at poker as a game of skill, not a game of chance, and that’s why it should be …
• 21 June

  Visa Offered 35% Interchange Cut for Small Merchants on Eve of Tester-Corker Vote

    n That’s the gist of a June 8 letter purportedly from Visa Inc. chairman and chief executive Joseph W. Saunders to U.S. Sen. Joe Manchin, D-W. Va., a copy of which was obtained by Digital Transactions News. On June 8, an amendment to delay Durbin’s provisions for further study …
• 16 June

  Among Small Merchants, Acquirers Now Get 40% of Revenue from Fees, Study Shows

    n Merchant processors, banks, and independent sales organizations that process transactions for merchants with annual sales of less than $10 million—the vast majority of U.S. retailers—have added on a wide array of fees in recent years for items ranging from statements to monthly minimums to chargeback processing and authorizations. …
• 15 June

  Huntington Plans to Keep Upgrades Coming at a Fast Clip for New Mobile Service

    n Dennes, who joined Huntington in September after helping to launch a popular mobile-capture application at USAA Federal Savings Bank, says the bank has “interest” in a point-of-sale payments capability, likely based on near-field communication (NFC) chips. Visa Inc., MasterCard Inc., Google Inc., and a carrier-led joint venture called …
• 14 June

  PCI Council Issues Virtualization Guidelines, Still Crafting Mobile Rules

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• 14 June

  AmEx Launches a Reloadable Prepaid Card with Practically No Fees

    With issuers and program managers having come under fire in recent months for allegedly high and numerous consumer fees for prepaid products, American Express Co. on Tuesday launched a reloadable prepaid card that levies no activation or maintenance fees. It also charges no reload fee when value is loaded …
• 14 June

  DoJ Should Have Pushed Harder on Steering Settlements, Some Merchants Say

  The U.S. Department of Justice filed court documents Tuesday that move toward completion its challenge of Visa and MasterCard network rules limiting merchants’ ability to steer customer payments toward their preferred forms. Tuesday’s action is largely procedural as Visa Inc. and MasterCard Inc. announced settlements when the DoJ and seven …
• 13 June

  With Durbin Looming, Are Issuers Pushing Higher-Interchange Cards?

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• 9 June

  Unfazed by Latecomers Like Square And Intuit, Inner Fence Soldiers on

    n n n n Inner Fence refers applicants to its ISO partner, Dublin, Ohio-based Merchant Focus Inc., for merchant accounts. The service uses the Authorize.net gateway for access to the payment networks. Merchants pay a $25 monthly fee, plus 24 cents and 1.74% to 3.79% of the sale, depending …