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 [...]
Tue 06/28/2011 - 03:57
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 [...]
Thu 05/26/2011 - 07:41
Posted by Mary Wisniewski on May 24, 2011 at 2:30pm View Mary Wisniewski’s blog A lot has been said about mobile banking and security, including consumers vocalizing their fears over using the channel. Indeed, data from the soon-to-be-released Bank Innovation Monitor show that 67% of consumers say they are concerned about mobile-device security. That prevailing [...]
Fri 05/06/2011 - 04:37
by Stephen Price – Payment-Times.com I thought I would pose this question. If you are doing debt collections, do we need check verification services? Here’s my point… Check Verification was originally made for retail establishments (think WalMart, Sears, etc..) that were giving away a product, say a TV. The consumer would tender a check to [...]
Fri 05/06/2011 - 03:33
The Bancorp Bank Payment Solutions Group, a division of The Bancorp Bank, and ACE Commercial Risk Services, part of the insurer ACE Group, have partnered to launch a prepaid card specifically aimed at customers impacted by natural disasters. This card is issued by The Bancorp Bank pursuant to license from MasterCard. The Declared Disaster Plan [...]
Fri 05/06/2011 - 03:16
Cross Posted from PaymentsU.com You might think that after half a century of having little or no control over the fees they pay to accept card payments, retailers would be demanding that all mobile commerce products and NFC-enabled systems support tender steering. They are not. Retailer associations have been virtually silent on the topic, and there [...]
Mon 04/11/2011 - 11:55
Taking a cue from bank card merchant acquirers, bank processor Fidelity National Information Services Inc. (FIS) and NACHA on Monday announced the formation of the Terminated Originator Database, a new service to help banks identify businesses that other banks have cut off from originating automated clearing house transactions because of high risk. NACHA selected Jacksonville, [...]
Sun 04/10/2011 - 12:00
More than eight months after it introduced same-day settlement for automated clearing house transactions, the Federal Reserve has attracted only a handful of banks for the service. “It’s been a long struggle,†Steven Cordray, retail payments project manager at the Atlanta Fed’s Retail Payments Office tells Digital Transactions News. Speaking on Monday at Payments 2011, [...]
Tue 03/01/2011 - 09:08
Reposted from Digital Transactions The prospect of combining on one contactless card payments for parking and transit fares would seem like a winner for hundreds of thousands of commuters who drive each morning to transit parking lots and then hop on a train or bus to the office. That was one idea floated last week [...]
Tue 03/01/2011 - 06:42
Beginning on Sept. 16, 2011, an originator may obtain a consumer’s oral authorization for recurring TEL transactions. NACHA (the National Automated Clearing House Association) recently amended its Operating Rules to expand the scope of the Telephone-Initiated Entry (TEL) appli cation to permit its use for recurring consumer transactions. A TEL entry allows merchants or creditors [...]
