China is reportedly negotiating with Visa, Mastercard and other global card issuers, seeking to reduce the fees they charge local merchants on foreign card transactions. The Payment & Clearing Association of China has proposed that the card issuers reduce their fees from the current range...
Credit card swipe fee litigation that has been fought for two decades is reportedly likely to remain unresolved for some time longer. A federal judge is likely to reject a $30 billion settlement between Visa, Mastercard and retailers that was announced in March but remains subject to court...
Consumer Financial Protection Bureau Director Rohit Chopra took note during his Wednesday appearance before the Senate Banking Committee that companies including PayPal and JPMorgan are monetizing customers’ financial data — warning the country is moving toward an age of “financial surveillance.” The focus of the...
Higher fees from the payments networks across the pond have not translated into better service, according to a new report. The U.K.’s Payment Systems Regulator (PSR) issued a 158-page report Tuesday (May 21) that charged increases in the fees levied on acquirers and issuers through...
June 24, 2024
The Consumer Financial Protection Bureau’s (CFPB) rules that seek to remove medical debt from credit reports and cap card late fees are proving wildly popular with the general public. But there may be unintended consequences — upending the ways in which providers and patients interact and upending credit access in general. The rules have yet […]
May 21, 2024
Higher fees from the payments networks across the pond have not translated into better service, according to a new report. The U.K.’s Payment Systems Regulator (PSR) issued a 158-page report...
February 24, 2023
There’s a not-far-off future where plastic credit and debit cards will be less popular with rising consumer groups drawn to instant payments, and that’s OK with merchants, who will save...
May 12, 2022
Legal obstacles to surcharges on credit card transactions have been dropping for much of the past decade as courts continue to rule that the surcharges are permissible. This is good...
June 21, 2024
China is reportedly negotiating with Visa, Mastercard and other global card issuers, seeking to reduce the fees they charge local merchants on foreign card transactions. The Payment & Clearing Association of China has proposed that the card issuers reduce their fees from the current range of between 2% and 3% to 1.5%, Bloomberg reported Friday […]
June 13, 2024
Credit card swipe fee litigation that has been fought for two decades is reportedly likely to remain unresolved for some time longer. A federal judge is likely to reject a...
May 21, 2024
The U.K.’s payments watchdog says card giants Visa and Mastercard need to offer greater transparency. The Payment Systems Regulator (PSR) said Tuesday (May 21) that it is proposing that both companies routinely turn over financial information to the...
May 08, 2024
U.S. Sen. Roger Marshall, R-Kan., aims to secure a vote on the Credit Card Competition Act (CCCA) by adding it to the Federal Aviation Administration (FAA) Reauthorization bill. Marshall asked the...
