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Senate Republicans join battle against Fed debit card plan

Jun 20, 2024

Senators this week introduced their version of a House bill aimed at derailing the Federal Reserve’s plan to lower the cap on fees that card issuers can charge merchants on debit transactions.

The fight over credit card swipe fees hits the road

Jun 18, 2024

Banks and credit card companies are contending with new threats to swipe fees that have popped up in statehouses across the U.S.

Visa, Mastercard $30 billion fee settlement in peril

Jun 14, 2024

Visa's opens new tab and Mastercard's opens new tab proposed $30 billion antitrust settlement to limit credit and debit card fees for merchants is in peril, after a New York judge signaled she was preparing to reject the accord.

Legislation threatens consumer privacy, retailers say

Jun 13, 2024

Legislation under consideration in the Pennsylvania legislature raises serious consumer privacy concerns and could unduly burden small businesses, a statewide coalition of bankers and credit unions said Monday.

Gov. DeSantis’ veto pen snares legislative budget over credit card fees study

Jun 12, 2024

A proposal to study the effect of fees imposed by credit card companies on sales taxes appears to have doomed a large chunk of the Legislature’s budget. Gov. Ron DeSantis vetoed $56.7 million in legislative support services funding. It’s funding he hasn’t vetoed before in five previous budgets.

5 Things to Watch as Open Banking Gains Ground in the US

Jun 10, 2024

Open banking’s success in the United States — as with any ecosystem — will hinge on several factors, none guaranteed. But, with lessons learned from abroad, and with an incrementally clearer picture of regulation and what consumers want, a few guideposts can be set along the way.

Is it Time for Pay-By-Bank at Retail?

Jun 6, 2024

New technology, consumer affinity for digital payments, and the allure of cheaper payment processing may be setting the stage for broader use of pay by bank in the United States

Visa Says 10 Billion Tokenized Payments Are Just the Beginning

Jun 5, 2024

The modern consumer more and more demands convenience and seamlessness across their daily lives. This simple, singular fact has served as a benchmark for much of the innovation defining the payments and commerce landscape of the past few decades.

Merchants Get an Extension to File Monetary Claims in the Big Credit Card Settlement

May 28, 2024

Merchants have been granted a 90-day extension to file a monetary claim as part of the settlement of a nearly two-decades-old interchange lawsuit filed against Visa and Mastercard.

Crypto bill passes House with wide bipartisan support in historic vote

May 28, 2024

A bill that aims to set up a regulatory regime for cryptocurrency passed through the House by a wide margin, setting up debate for the Democratically-controlled Senate.

How retailers are seeking to improve self-checkout

May 23, 2024

Executives from Mashgin, Invenco and other firms recently discussed issues they face in using kiosks for self-checkout, and how retailers can address them.

Fed Receives Overwhelming Response to Proposed Interchange Fee Changes

May 22, 2024

This past Sunday, comments were due in response to the Federal Reserve’s proposed changes to Regulation II of the Durbin Amendment.

CFPB to classify BNPL loans as credit cards under consumer laws

May 22, 2024

The Consumer Financial Protection Bureau Tuesday announced buy now/pay later lenders will be classified as credit card providers for consumer protection purposes under a new interpretive agency rule.

Eye on Dining POS: NCR Voyix’s QR Code App; Olo Works With MenuSifu

May 20, 2024

Point-of-sale technology for the ultra-competitive restaurant market gained even more momentum Monday as several key players unveiled new solutions. The announcements were in conjunction with the annual National Restaurant Association show taking place in Chicago.

Fed plays crucial role in payments standard-setting

May 20, 2024

Federal Reserve Governor Christopher Waller last week underscored the central bank’s role for setting standards in the rapidly evolving payments arena.

Supreme Court upholds CFPB’s funding structure

May 16, 2024

The 7-2 ruling puts an end to a case that threatened the bureau’s existence and pushed at least one district judge to pause a CFPB rule pending the high court’s opinion.

Visa blurs line between debit, credit cards in new 'flexible credential'

May 16, 2024

Visa aims to bridge gaps between in-person and digital payments with a range of new consumer card enhancements available to issuers in various global markets.

The Merchant Advisory Group

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