Payment Industry News

Honesdale A new service is now available at Wayne Bank n Business Link, which is a remote deposit capture system used by businesses which enables them to make check deposits from their place of business. Bill Davis, president and chief executive officer of Wayne Bank, said, “It is a great service to assist businesses in saving time and money by extending their deposit time until 5 p.m. during ...

Three banks failed Friday, bringing this year's total to 28, according to the government, setting the Federal Deposit Insurance Corporation back more than a half billion dollars.

In the midst of the worst economic contraction in decades, some small business owners are experiencing an additional—and brutal—cash squeeze, this time at the hands of their credit-card processors. The recession and rising business bankruptcies ...

eProcessing Network, LLC, the leading independent payment gateway and software development companies in the industry, announced today that it has formed a strategic alliance with CoCard Marketing Group, LLC, one of the most highly respected merchant ...

If you have seen a "no checks accepted" sign at a business recently, there is a reason. The Ward County State`s Attorney`s office recently changed its policy for prosecuting bad checks.

Customer fights bank over 'phantom' withdrawal A UK man will face banking giant Halifax next week in court after he sued over the loss of £2,100 from his account via a cash machine.

LONDON, April 23 /PRNewswire/ -- - Protx, the UK's Fastest Growing payment Service Provider, Becomes Sage Pay - Enhanced Merchant Services and 24/7 UK-Based Customer Support Provide Backdrop for New Brand - With Photo From today, Protx, the UK's largest independent payment service provider and a division of business software and services company Sage, becomes Sage Pay. The new brand reflects the ...

LAS VEGAS, April 22, 2009 /PRNewswire-FirstCall via COMTEX/ -- 2009 ETA Annual Meeting & Expo -- cybersource Corporation (Nasdaq: CYBS) today announced that its Authorize.Net small business solution will be releasing Advanced Fraud Detection Suite ...

MyEcheck Inc. (OTCBB: MYEC), an electronic transaction processor and provider of alternative payment solutions, is pleased to announce that it has signed ForYourParty.com and BeforeYourParty.com as a client and is now providing the online retailer ...

Laru’s software helps banks manage the risks of ach transactions — a common payment form that includes electronic transactions, such as payroll direct deposit. First Community will use Laru’s ach Clarity software, which monitors ach traffic ...

If you still have a credit card account, keep a close eye on your mail box, because banks are changing fees again. Notices started hitting local mail boxes this month. Bank of America calls the notices part of its commitment to clear and timely ... more...

A crush of online tax-filers created delays Wednesday in using the state's ePay system. The delays lasted throughout the day and into the evening despite efforts by the Department of Revenue to fix the slowdown, it said. more...

Futuretrust®, a recognized leader in the college savings industry, and Waterfield Financial Services, Inc., a leader in the financial industry for nearly 100 years, today announced their partnership to provide an industry-first 529 checking account. more...

PORTSMOUTH and#8212; Service Credit Union launched WebDeposit24, a cutting-edge technology allowing members to make check deposits from the comfort of their home, anytime. Members simply scan in both sides of their checks with WebDeposit24, eliminating the... more...

HERNDON, Va.----If employees signed up to use Direct Deposit, individually they would save almost a pound of paper every year. In fact, if every employee who had access to Direct Deposit used it, we would save an additional 11 million pounds of paper, 4 million gallons of gas, and avoid releasing 32 million pounds of greenhouse gases into the atmosphere each year, according to a 2009 study by ... more...

HAWTHORNE, N.Y.----EFT Network, Inc., a provider of innovative ACH and check processing solutions to financial institutions, corporations and businesses, will be exhibiting at the Southern Financial Exchange Conference April 20-22, 2009 in Tunica, MS. more...

40% of small to mid-size North American banks not happy with ACH system - survey
Almost 40% of small and mid-sized banks in North America are not happy with their current ACH system, according to a survey for Fundtech.
The independently conducted survey of 70 payments professionals shows 60% of banks have seen an increase in revenue from ACH transactions over the last year and 48% recognise the potential of their systems as a source of revenue and competitive advantage.
However, the need for more sophisticated reporting and functionality in order to meet market, regulatory and economic demands, is putting pressure on banks' existing ACH systems, claims the vendor.
Half of respondents say inadequate reporting is an area of concern in relation to their ACH systems, whilst 27% cite insufficient automation. more...

The Federal Reserve Banks are offering an enhanced offering for cross-border electronic payments that will be enabled by the International ACH Transaction rule. By Maria Bruno-Britz More from this author April 06, 2009
...In anticipation of the upcoming implementation of NACHA's International ACH Transaction (IAT) rule, the Federal Reserve Banks are introducing FedGlobal ACH Services, an enhanced suite of services designed to offer an efficient means for cross-border electronic payments to more than 30 countries in Europe and Latin America. more....

Two out of every five small and mid-sized banks in North America aren't happy with their ACH system, according to a survey conducted for Fundtech.

The polling of 70 payments professionals reveals 60 percent of banks have seen an increase in revenue from ACH transactions over the past year and nearly have recognize the potential of their systems as a source of revenue and competitive advantage. more...

Gaithersburg, MD - BFrame Data Systems, one of the leading providers of receivables management software for the collections industry and Autoscribe Corp., provider of the popular payment gateway Payment Vision partner to provide HZB Financial Services with PCI-compliant payment processing. more...