digital transactions

…  » Credit card traffic could be privately processed « 

… Othentik Technologies Inc., Montreal, has signed a deal to license its software to US Dataworks Inc., a Houston-based processor of transactions on the automated clearing house, to offer a service that will enable both online debits and credit card transactions.

And in a development with potentially far-reaching ramifications for Visa and MasterCard, the credit card traffic could be privately processed, bypassing the bank card networks, according to US Dataworks. « We’re looking at the fine print of the [Visa and MasterCard] rules to see if we can do that, » says John J. Figone, vice president of business development at US Dataworks. « We think we can.« 

Digital transactions, Dec 9, 2004