Payments News

On The Web

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Global

UK’s Supreme Court Rules Against Mastercard, Visa in Retailers’ Fees Battle

“Britain’s highest court on Wednesday upheld an earlier Court of Appeal ruling that credit card companies Visa and Mastercard restricted competition in the way they set fees for retailers, opening the way for them to seek compensation. The case, which dates back to 1992, was brought by retailers Sainsbury’s, Morrisons, Asda and Argos and relates […]
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Systems

Karat launches a credit card for online creators

“Karat is a new startup promising to build better banking products for the creators who make a living on YouTube, Instagram, Twitch and other online platforms. Today it’s unveiling its first product — the Karat Black Card. The startup, which was part of accelerator Y Combinator’s Winter 2020 batch , is also announcing that it […]
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Systems

Citi Accounts for 37% of Coronavirus-related Credit Card Complaints

“An alarming number of credit card borrowers hurt by the coronavirus recession are complaining that Citibank is treating them unfairly. Citi accounted for nearly 37% of pandemic-related complaints to regulators about credit cards between March 16 and May 20, according to an analysis by Consumer Reports. That was four times as much as the next-closest […]
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Deals

Slice raises $6M to help young Indians pay digitally and build credit score

“Slice offers a prepaid card that comes with a pre-approved credit line, Rajan Bajaj, co-founder and CEO of the four-year-old startup, told TechCrunch in an interview. The Koramangala-headquartered startup focuses on people like Nayeem — young demography comprising mostly of students, freelancers, startup employees and blue-collar workers. Bajaj said more than 250,000 customers use Slice’s […]
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Systems

Visa, Mastercard Weigh Cutting Ties With Wirecard After Scandal

“Visa Inc. and Mastercard Inc. are considering revoking Wirecard AG ’s ability to process payments on their networks, moves that could cause further pain for the fintech firm that’s been battered by an accounting scandal. The world’s largest payment networks have begun reaching out to some Wirecard clients to prepare them for the possibility, according […]

On The Wires

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Systems

Visa and CPI Card Group® Unveil an Industry-Leading Card Globally

“Today, Visa and CPI Card Group Inc. (“CPI” or the “Company”), a leading provider of credit, debit and prepaid solutions introduced the Earthwise™ High Content Card, which is made with up to 98 percent upcycled plastic, dependent on design, for a more sustainably produced card. This global launch is an exclusive offering for Visa clients […]
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Deals

CardWorks and Ally Financial Announce Mutual Termination of Merger Agreement

“Cardholder Management Services, Inc. and Ally Financial Inc. today announced that the companies have mutually agreed to terminate their merger agreement, previously announced on February 18, 2020, under which Ally had agreed to acquire CardWorks. Neither party will be required to pay the other a termination fee or break-up fee as a result of the […]
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Domains

Samsung Reveals the New Samsung Pay Card, Powered by Curve

“Samsung Electronics Co., Ltd has today announced a new partnership between Samsung Pay, the digital banking platform Curve, one of Europe’s leading fintechs, and Mastercard to launch the Samsung Pay Card.  The all-new digital payment solution will offer Samsung customers greater flexibility and control when managing their finances by offering a single view of spend, whilst […]