PAYMENTS NEWS
Pandemic Pushes Visa To Postpone Hike In Merchant Swipe Fees
Nov 23, 2020
Visa is postponing a long-planned price hike on swipe fees for merchants due to ongoing pressure on the retail industry from the pandemic. According to Bloomberg, an inside document revealed that the credit card company had been planning significant changes this month, including rate increases for eCommerce transactions and decreases for payments involving real estate or education. The rate changes will now take effect in April of next year.
E-commerce surge rekindles debit fee fight between merchants and industry
Nov 19, 2020
The Federal Reserve is facing pressure to allow retailers to route PIN-less debit-card purchases over their choice of networks. It’s a new stage in an old battle, fueled by the shift toward online shopping during the pandemic.
Card networks face pushback over mobile EMV acceptance tech
Nov 11, 2020
EMVCo, the major card brand-supported venture to establish EMV guidelines and specifications, has begun testing a program to determine if consumer mobile devices can securely accept contactless payments — a move that not only hastens the adoption of contactless payments, but renews criticism over which networks control technology and routing decisions.
CVS Pharmacy’s Big QR Code Deployment Goes Live With PayPal And Venmo Options
Nov 16, 2020
Payments based on QR codes went live Monday at 8,200 CVS Pharmacy stores nationwide, the largest such deployment so far in the U.S. market and a major step forward for PayPal Holdings Inc., which announced in July its plans to enable the technology for CVS and other chains.
DOJ files antitrust lawsuit challenging Visa's $5.3 billion acquisition of Plaid
Nov 5, 2020
The Department of Justice has filed an antitrust lawsuit challenging Visa’s proposed $5.3 billion acquisition of Plaid. News of the DOJ’s investigation first broke last month.
Visa’s Planned Purchase of Plaid Faces Antitrust Scrutiny at the Justice Department
Oct 27, 2020
Visa Inc.’s $5.3 billion deal to buy a key player in the financial-technology space is in jeopardy because of antitrust concerns, according to people familiar with the matter.
Open Standards Advance Fintech
Nov 4, 2020
Today, smartphones can scan faces, artificial intelligence can prevent human error, and a payment can be made in the blink of an eye. Demand for these types of technologies is increasing, particularly in the payments industry.