Tag: Network rules

Visa, Mastercard are close to swipe-fee agreement

Visa Inc. and Mastercard Inc. are getting close to settling a 13-year-old lawsuit over fees charged when merchants accept card payments, according to a person familiar with the agreement. The two card companies and banks including JPMorgan Chase & Co., Citigroup Inc. and Bank of America Corp. would pay merchants about $6.5 billion under the…
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June 28, 2018 0

As more gas pumps add EMV, connectivity comes to the forefront

As gas stations add EMV-chip card acceptance at the pump, they will also find themselves rebuilding systems for loyalty programs and special offers that were reliant on their older hardware. And the clock is ticking. The card brands set an October 2020 deadline for the EMV liability shift at pumps, delaying it from an earlier…
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March 20, 2018 0

Visa to drop signature requirement in North America, joining other major card brands

If it wasn’t before, it’s official now. Signature authorization in North America will largely cease to exist in April. Visa will join the other major card brands in making the signature requirement optional for all North American merchants accepting contact or contactless chip-enabled EMV cards. Bloomberg News Visa’s announcement signals what many in the payments…
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January 14, 2018 0

Visa brings faster payments to a market that may not need it

In the U.S., Visa Direct has emerged as one of the few go-to tools for fast payments in a market that is overdue for such options. The product’s true test begins now, as Visa launches it in Europe, where faster payments options are far more plentiful. Among Visa’s biggest challenges will be Mastercard, which zoomed…
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November 3, 2017 0

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