In Other News: WLN/GTO (deal); IATS – (exec); AEVI (Albert); and BLACKHAWK (engagement). WLN/GTO – Worldline, a European payment and transactional services market leader and Gemalto, a world specialist in digital security, have inked a deal to enable seamless onboarding of banks and card issuers to mobile payment wallets provided by device manufacturers. IATS –…
Pay & iATS says its platform integrates with iATS Payments. This integration enables a new frictionless process for nonprofit fundraising.
TX-based First American Payment Systems latest 1stPayPOS software update enables merchantsto add their logo to the top of the receipt as well as a barcode discount feature that allows the merchant to offer a dollar or percent discount to customers.
ACH payment volume increased by more than 475 million transactions in 2009, bringing year-end total transaction volume to 18.76 billion, a 2.6% increase over 2008 activity. This demonstrates strong volume increases in electronic payments such as consumer Internet transactions and B2B transactions. This, according to the NACHA Electronic Payments Association, also shows a decline in the unauthorized debit volume with ACH debits returned as unauthorized in 2009 having declined 9.6% since 2008 to now only constitute for 0.02% of total Network volume. ACH native electronic payments increased by 4.15% in 2009, showing an increased preference for non-check, fully-electronic, payment options and constituted for 12.19 billion transactions on the ACH Network. Meanwhile, Consumer Internet Transactions were up 8.75% to nearly 2.4 billion payments for 9.7% increase over 2008 and International ACH Transactions totaled 1.7 million with a dollar value of $7.4 billion.
First American Payment Systems merchant credit card processing acquirers
has inked a deal to buy Vancouver-based IATS (International Automated Transaction
Service) payment processing company, a division of Ticketmaster Canada. The firm is a provider of integrated end-to-end donation processing
solutions for nonprofit organizations. This makes First American one of
the industry leaders in the nonprofit payment processing sector,
well-positioned to penetrate the nonprofit industry with electronic
processing solutions. The acquisition will also accelerate development
of new products and donation processing services, as IATS
currently provides payment processing solutions to more than 9,000
nonprofit organizations in the United States, Canada, United Kingdom,
Europe, Australia, Hong Kong and New Zealand designed to help nonprofit
organizations save time and money on fundraising solutions.
First American Payment Systems merchant credit card processing acquirers
has acquired Vancouver-based IATS (International Automated Transaction
Service) payment processing company, a division of Ticketmaster Canada
and leading provider of integrated end-to-end donation processing
solutions for nonprofit organizations. This makes First American one of
the industry leaders in the nonprofit payment processing sector,
well-positioned to penetrate the nonprofit industry with electronic
processing solutions. The acquisition will also accelerate development
of new products and donation processing services, as IATS
currently provides payment processing solutions to more than 9,000
nonprofit organizations in the United States, Canada, United Kingdom,
Europe, Australia, Hong Kong and New Zealand designed to help nonprofit
organizations save time and money on fundraising solutions.
A new report has reviewed the challenges of implementing
international ACH transactions. Aite Group has released its report,
“International ACH
Transactions: United States Goes Global,” demonstrating the challenges
of implementing NACHA’s latest standard entry class code for the U.S.
automated clearing house (ACH) network, international ACH transaction
(IAT). Set for introduction on March 20, 2009 as the new standard entry
class code, IAT was designed to reduce exception processing and
eliminate the need for separate batches of international payment from
domestic payments. After having interviewed executives at 24 banks, one
credit union, four ACH system providers and the two ACH operators in
order to gauge preparedness for IAT, Aite Group discloses that 24% of
survey respondents lack confidence in their ability to process IATs by
NACHA’s deadline.