Payments News

On The Web

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Global

Payments Incumbents Can’t Rest on Their Laurels, Researchers Say

“These so-called emerging markets generated 139 billion electronic payment transactions in 2015, less than half the 294 billion transactions from North America, Europe and other “mature” payments markets, according to research from Paris-based Capgemini cited by Aite. But in 2022, emerging markets will surpass the mature markets with 457 billion transactions versus 423 billion, says […]
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Providers

Visa, Mastercard Near Settlement Over Card-Swipe Fees

“Visa Inc. and Mastercard Inc. are close to settling a long-running antitrust lawsuit with merchants over the fees they pay when they accept card payments, according to people familiar with the matter. Under the settlement, Visa, Mastercard and a number of banks that issue debit and credit cards including JPMorgan Chase & Co., Citigroup Inc. […]
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Providers

Supreme Court Rules For American Express In Credit Card Case

“Under their contracts, merchants who accept American Express generally can’t encourage customers to use other credit cards, even though they charge merchants lower fees. The federal government and a group of states sued over those so-called “anti-steering” provisions, arguing that they violate federal law. But on Monday the high court ruled 5-4 in favor of […]
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Providers

Visa Stored Credential Framework: Processing Improvements for Vaulted Cards

“Visa recently announced a framework and new requirements for merchants that store payment methods for future transactions so their customers can check out faster online. The Visa Stored Credential Framework applies to all Visa transactions made with stored payment methods — regardless of whether they’re processed from Braintree’s Vault or via an external vault. This framework will be rolled […]
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Providers

Priority Technology Blames a Mastercard Subscription Rule for Its $19.5 Million Revenue Hit

“Merchant processor Priority Technology Holdings Inc.’s fourth-quarter revenues fell by $19.5 million, a drop of 16.5%, in the face of a new Mastercard Inc. rule change tightening consumer notices on subscription billings. “This decline was being driven by one factor and one factor only,” Priority chairman and chief executive Thomas C. Priore said Thursday morning […]
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Providers

Mastercard, Visa Propose Cutting Fees for European Merchants

“European Union regulators said Tuesday that Mastercard Inc.MA 4.37% and Visa Inc. have agreed to lower the fees assessed to merchants when they accept debit or credit cards issued outside the region, a move that comes after merchants alleged that networks and banks colluded to inflate those fees.”

On The Wires

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Providers

Chase and UATP will make it easy for airlines to accept Chase Pay

“UATP – the airline-owned payment network – and Chase, are making it easier for airlines to accept Chase Pay as a payment and checkout option in their own apps and websites, by enabling a network-wide connection. Chase is the leading card issuer in the country and has relationships with half of all households in the U.S.”