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Mastercard Launches Mobile Virtual Card App to Simplify Travel and Business Expenses

Apr 19, 2024

Mastercard announced a new mobile virtual card app that enables virtual commercial cards to be seamlessly added to digital wallets. The innovative app is designed to offer financial institutions more choice in how they deliver the secure and sustainable contactless payment solutions that companies increasingly expect.

Visa Launches Enhancements for its Acceptance Platform

Apr 19, 2024

Visa Inc. on Wednesday unveiled enhancements intended to further remove friction from the customers’ payment experience for merchants of all sizes.

US senators introduce new stablecoin bill

Apr 18, 2024

For months, Senators Kirsten Gillibrand and Cynthia Lummis had hinted that they were preparing legislation to establish guardrails for stablecoin issuers and users.

US, Europe lock arms on payments regulation

Apr 16, 2024

U.S. and European regulators have joined forces to monitor digital payment concerns, including those related to buy now, pay later financing and big tech market participation.

Get Set for the Passage to Passkeys

Apr 12, 2024

The technology promises to thwart cyberthieves while simplifying authentication for consumers.

Schumer presses Capital One, Discover on merger deal

Apr 9, 2024

Senate Majority Leader Charles Schumer, D-N.Y., sent a letter to the CEOs of Capital One and Discover asking for additional information regarding the companies' proposed $35 billion merger.

Mobile Wallets and Contactless Payments Growing in Popularity, NFC Forum Says

Apr 8, 2024

Consumers are not only favoring contactless payments more, they are relying more on their mobile wallets to initiate payments, according to the NFC Forum’s bi-annual Near Field Communication Usage and Adoption study.

The CFPB Targets Mobile Wallets

Apr 8, 2024

The Consumer Financial Protection Bureau is at it again. If you develop or manage mobile-payment apps, you might want to pay attention. The agency’s proposed rules, aimed at so-called larger participants, may ensnare you, even if you’re only a fraction of the size of, say, Google or Apple.

Time to Embrace FedNow’s Request for Payment

Apr 9, 2024

Request for Payment (RFP) isn’t a novel concept in banking or payments, but it will drive a lot of innovation over the next decade. Many institutions will rely on RFP functionality in the new FedNow service as their primary mechanism for real-time payments because it’s a data-rich, low-risk way to enable fast payments.

Mastercard Plans a Network Fee Hike for Later This Month. Merchants Aren’t Happy

Apr 5, 2024

Mastercard merchants will see a network fee increase later this month when Mastercard increases its Acquirer Brand Volume Fee from 0.13% to 0.14%, effective April 15.

CFPB's Rohit Chopra warns of 'creep of consolidation' in bank M&A

Apr 5, 2024

Rohit Chopra, director of the Consumer Financial Protection Bureau, said in Wednesday remarks that meeting antitrust standards shouldn't be enough to accept a bank merger application.

Will the Capital One-Discover merger be approved? A guide to the issues

Apr 4, 2024

Capital One says it can help make Discover a stronger competitor to Visa and Mastercard. The deal's critics question that assertion and worry that the combined company would be a credit card giant, particularly in the subprime segment.

A Signature Habit

Apr 3, 2024

More than six years ago, the requirement that credit card transactions made at the point of sale be completed with a signature was lifted by the four U.S. card brands. But today, many consumers are still presented with a receipt or a screen to sign for a credit card transaction, especially if a tip is expected.

Warning Shots Fired Over AI Hype vs Reality

Apr 3, 2024

The rapid rise of artificial intelligence (AI) has sparked a heated debate among experts, with some warning that the hype surrounding the technology may be overshadowing genuine scientific advancements.

How Amex is entangled in the Visa-Mastercard settlement

Apr 1, 2024

The settlement gives merchants the ability to surcharge for nearly all Visa and Mastercard credit card transactions, and puts pressure on American Express to allow the same.

NY Assembly bill counters governor on BNPL

Mar 27, 2024

A New York assemblymember has introduced a buy now, pay later bill, countering one introduced in the governor’s budget bill.

US consumer watchdog to examine credit card rewards, 'buy-now, pay-later' companies

Mar 27, 2024

LISBON, March 27 (Reuters) - Portugal's fragmented new parliament on Wednesday elected a speaker after three failed votes the previous day underscored the weakness of the centre-right election winner and the growing influence of the far right.

Visa, Mastercard Reach $30 Billion Swipe-Fee Deal With Merchants

Mar 26, 2024

• Networks, retailers have fought over interchange for decades • Concessions likely to crimp revenue of banks like BofA, Citi

EU sets deadline for Instant Payments Regulation

Mar 25, 2024

On 19 March 2024, the Official Journal of the EU (OJ) was updated with a publication regarding Regulation (EU) 2024/886 of the European Parliament and of the Council of 13 March 2024 amending the Single Euro Payments Area Regulation, the Cross-Border Payments Regulation, the Settlement Finality Directive and the Second Payment Services Directive as regards instant credit transfers in euro.

The Merchant Advisory Group

Driving positive change and innovation in the payments industry that serves the merchants interest through collaboration, education, and advocacy.