Payments News
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Systems

Cash May Not Be King, but It’s Still Royalty

“Yet digital’s gain isn’t necessarily coming at the expense of cash. The overall pie still appears to be growing. Only two countries, Russia and Sweden, had a net substitution of cards for cash from 2007 to 2016, with cash in circulation shrinking as card payments grew, according to the Bank for International Settlements. In other […]

On The Web

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Providers

Retailers Don’t Like Paying the Fees for Your Apple Card

“That’s because the card, marketed by Apple and backed by Goldman Sachs Group Inc. , is designated “elite,” which allows it to levy significantly higher interchange fees on each swipe or tap. Those fees aren’t paid by the consumer but by the merchant as part of the cost of accepting credit cards. A grocer can […]
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Systems

Another Challenge for Small Businesses: Higher Card Fees Could Be on the Way

“Many small businesses could have another thing to worry about when they come out of a coronavirus coma: higher credit-card fees. Visa Inc. and Mastercard Inc. had planned to raise swipe fees on many merchants this year, and the changes in some cases would be hardest on small businesses, according to people familiar with the situation. It […]
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Global

EU Eyes Single Space for European Bank Cards

“The European Commission will present this autumn a strategy on an integrated EU payments market, to facilitate the use of national payment services across Europe and reduce the dependency from international card operators such as Visa or Mastercard. The Single Euro Payments Area (SEPA) provides for uniform credit transfers and direct debits for over 500 […]
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On The Wires

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Companies

Visa Launches New Infinite Business Card Portfolio for SMBs

“In support of growing small businesses (SMBs) across the globe, Visa (NYSE:V) today announced Visa Infinite Business, the expansion of its business card product suite in the United States. Complementing Visa’s Signature Business and Business card products, Visa Infinite Business will provide high-spend SMBs in the U.S. with a rich set of protection, travel and […]
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Systems

Commerce Bank and Visa Power Progressive Insurance Digital Claims Payment Solution

“Commerce Bank announced today it has worked with Progressive to implement CommercePayments™ PreferPay™ for claims payments. The relationship is the result of a truly strategic collaboration whereby Commerce’s product team worked with Progressive stakeholders to build a solution uniquely positioned to provide fast, convenient reimbursement options to customers. CommercePayments™ PreferPay™ provides customers, claimants and service […]
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Companies

Mastercard Partners With BMO Harris and Superbia to Bring the True Name™ Feature to Their Card Offerings

“Announced during World Pride 2019, the True Name initiative was developed in response to a need for credit, debit and prepaid cards that reflect the true identities of many in the transgender and non-binary communities who are misrepresented when shopping and going about daily life. For these communities in particular, the card in their pocket […]
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Systems

Visa Statement on Tencent’s Intent to Support International Card Schemes Into Mobile Wallet

““Visa believes this is a great step forward, both for consumers travelling to China and the overall payments industry. In a truly global commerce environment, collaboration is essential to provide consumers with a seamless payments experience. Visa is excited to work with Tencent, one of China’s leading fintech companies, on a secure, convenient and interoperable […]