Payments News

On The Web

nbsp;

Systems

Debit Dynamics

“The new Fed study says average per-transaction ACS costs for regulated debit card issuers, excluding fraud losses, fell to 3.6 cents in 2017 from 4.2 cents in 2015, reflecting a cumulative decline of 54% since the Fed began collecting such data in 2009. The regulated interchange rate is up to 21 cents plus 0.05% of […]
nbsp;

Global

Card Payments Outstrip Cash for First Time in Germany

“Germany’s preference for cash is legendary. While in neighbouring Holland, Sweden and Finland some supermarkets will have cash-free aisles, simply paying with a card in some parts of Germany is difficult.  But a new study has shown that growing trust in card payments – particularly among younger Germans – has tipped the balance in plastic’s […]
nbsp;

Systems

Coinbase Launches Debit Card in the UK

“When you buy cryptocurrencies on Coinbase , many users simply don’t know what to do with them. Customers in the U.K. can now get a good old plastic card and spend cryptocurrencies in-store and on any online website. This is a Visa card, so it should work with any merchant on the Visa network. The […]
nbsp;

Global

Users of China UnionPay’s Mobile Payment App Hit 150 Million

“User can make payments, buy wealth management products and make debit card balance inquires on the app Cloud Quick Pass, the Shanghai-based company said. The platform supports online applications for more than 80 types of credit cards from 21 banks, and cardholders of over 230 lenders can make mobile payments by scanning the association’s quick […]
nbsp;

Regulation

How Bernie Sanders Would Lower Credit Card Fees

“Sen. Bernie Sanders (I-Vt.) is teaming up with Rep. Alexandria Ocasio-Cortez (D-N.Y.) on a plan to cut the fees that Americans pay on their credit card bills. Sanders’ proposal, which he and Ocasio-Cortez unveiled on Thursday, is the Vermont senator’s answer to an economic concern that has also been highlighted by Sen. Elizabeth Warren (D-Mass.), […]
nbsp;

Global

Credit Cards Usage on the Rise in India

“Indian consumers have showed their preference for credit cards, with 47.99 million credit cards in operation in April 2019, according to the Reserve Bank of India . At the same time, the number of debit cards has declined to 884.78 million, a reduction of 39.8 million existing cardholders. Between April 2018 and April 2019, India […]
nbsp; nbsp; nbsp; nbsp;

Systems

The spy in your wallet: Credit cards have a privacy problem

“Despite a federal privacy law covering cards, I found that six types of businesses could mine and share elements of my purchase, multiplied untold times by other companies they might have passed it to. Credit cards are a spy in your wallet — and it’s time that we add privacy, alongside rewards and rates, to […]