Small merchants are not much more aware of—let alone compliant with—the Payment Card Industry data-security standard (PCI) than they were a year ago, according to a study released this week. Some 53% of small merchants are now at least aware of PCI, a small increase from the 47% a similar survey found in 2010. “Awareness [...]
Tue 11/08/2011 - 04:28
Tue 11/08/2011 - 04:19
Release Date: Wednesday, November 02, 2011 Equifax’s latest National Credit Trends Report shows that Total consumer debt now stands at $11.2 trillion, nearly equivalent to the $11.1 trillion posted pre-recession in 2006 according to the most recent Equifax National Credit Trends Report. Consumer debt outstanding peaked in October 2008 at $12.4 trillion. In addition the report [...]
Fri 09/30/2011 - 11:51
Posted by Digital Transactions 09/28/11 The automated clearing house network took a crucial step toward faster transaction movement last Friday when NACHA, the network’s governing body, distributed a request for comment on a proposal for same-day settlement. NACHA sent the 22-page document, which sets out a proposed system called Expedited Processing and Settlement (EPS), by [...]
Fri 09/30/2011 - 04:23
Posted by Chad Davis on September 30, 2011 at 9:05am As expected another big bank announced new fees associated with debit card usage. Bank of America recently announced a $5 per month fee for all customers who use their debit card fee—with exception to ATM usage and certain special accounts. This new fee [...]
Tue 08/30/2011 - 03:28
PaySecure allows the merchant to tap into 80+ million debit cards in the U.S. that can only be used with a PIN. There is no question that consumers who shop online are usually able to find better products and selections than in retail stores. So what about the consumers that are not shopping online? With the constant threat of identity [...]
Wed 07/20/2011 - 08:50
The Red Tape Chronicles on MSNBC by Bob Sullivan Coin operated parking meters appear poised to go the way of the typewriter and the Sony Walkman, and parking in many American cities is about to get much easier. But like many modern conveniences, this advancement comes with a price — more specifically, a fee — [...]
Mon 07/18/2011 - 06:13
Faster clearing and settlement of automated clearing house transactions, hampered by a host of issues and limitations, could be picking up some momentum, albeit slowly. Software is emerging to allow both large and small financial institutions to take advantage of a nearly 1-year-old Federal Reserve service that clears transactions on the same day they are [...]
Tue 06/28/2011 - 04:03
With final debit card regulations at hand that will end exclusive partnerships between payment networks and debit card issuers, the head of Discover Financial Services says his company has added capacity to its Pulse electronic funds transfer network to handle anticipated new business. “Our Pulse network is highly scalable; we have taken actions to build [...]
Tue 06/28/2011 - 03:57
The PCI Security Standards Council on Friday released its first guidelines on mobile-acceptance applications since announcing in November that it had stopped reviewing such products. The Wakefield, Mass.-based Council, which manages the Payment Card Industry data-security standard (PCI), also said it hopes to start forming a broad group of mobile-payments experts next month to help [...]
Sat 06/18/2011 - 11:22
Debt Resolve, Inc. (OTC BB: DRSV) announced Thursday that Regal Technologies LLC, a provider of leading payment management solutions, and Debt Resolve have entered a marketing partnership where Regal will market DR Settle(TM) and DR Prevent(TM) to its clients. Debt Resolve will market Regal’s payment processing solutions to its clients and new relationships. David Rainey, [...]
Sat 06/18/2011 - 11:01
The PCI Security Standards Council on Tuesday released guidelines on how merchants, processors, card issuers, and tech companies should securely handle payment card data in light of the increasing “virtualization” of systems that transmit and process such data. Meanwhile, the Council is still grinding away on guidelines for mobile-payment security that it had hoped to [...]
Sat 06/18/2011 - 10:53
Cross Posted from Digital Transactions 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 from [...]
Fri 06/10/2011 - 09:05
Denver-based eWise Systems Inc., provider of the switch that runs the new Secure Vault Payments system for online purchases over the automated clearing house network, announced on Tuesday that it had raised $14 million in venture-capital financing. The new financing is significant because it more than doubles all the money that had been invested in [...]
