Wednesday , September 19, 2018

News

September, 2018

  • 18 September

    Credit Card Interchange Settlement Once Again Divides Merchants

    Déjà vu, anyone? Similar to its now-moot predecessor agreement from 2012, the proposed $6.24 billion monetary-damages settlement in a big credit card interchange antitrust case announced Tuesday by Visa Inc. and Mastercard Inc. is drawing diverging reviews from merchants. Based on anecdotal comments and the history of the earlier settlement, …

  • 18 September

    COMMENTARY: A New Coalition Unites Diverse Players to Confront Payments Fraud

    When you flip over your debit card or go to an ATM, you see logos for companies like Shazam, First Data’s Star Network and others, but you may not think about the role these processors play in the payments system. As one of those processors, we simplify the connections that …

  • 18 September

    A $6.2 Billion Pact May Be Only a Prelude to Difficult Haggling Ahead for Merchants And the Card Networks

    Visa Inc. and Mastercard Inc. announced early Tuesday that they and defendant banks have agreed to settle for $6.24 billion merchants’ monetary claims stemming from 13-year-old litigation over credit card interchange. Today’s announcements represent the second settlement of the sweeping class action known as MDL 1720 pending in U.S. District …

  • 18 September

    Ensuring Electronic Payment Security for Specialty Merchants

      Most merchants are in business because of their passion about a product or service, and because they are interested in making money. To succeed, business owners must be prepared for the many obstacles they can face. When it comes to electronic payment acceptance, security is one of the challenges …

  • 18 September

    With Stripe Terminal, the Online Payments Specialist Moves Into Face-to-Face Sales

    Stripe, the San Francisco-based online payments company, is taking a step to get inside stores. The company on Monday launched Stripe Terminal, a service that puts Stripe’s processing software onto point-of-sale hardware devices that merchants can use to accept payments in their stores. The move follows similar migrations in recent …

  • 18 September

    BlueSnap Now Processing In Australia and other Digital Transactions News briefs from 9/18/18

    Processor First Data Corp. said it shipped its 1 millionth Clover point-of-sale sale device aimed mainly at small and mid-sized merchants; the device went to Friesen-Apotheken, a pharmacy chain based in Bad Malente, Germany. Payments platform BlueSnap has begun local processing for business-to-business and business-to-consumer companies in Australia. Buildium, a …

  • 17 September

    As Transaction Volume Grows, NACHA Smooths out the Road for Same-Day ACH

    With volume building for same-day processing of automated clearing house items, the regulatory body for the extensive ACH network announced Monday a trio of enhancements aimed at, among other things, raising the dollar limit on the faster transfers and making credit funds available faster during the processing day. The changes, …

  • 17 September

    Understanding OFAC: A Best Practices Compliance Guide for All Businesses

    Over the last decade, the Office of Foreign Assets Control (OFAC) has imposed $4.3 billion in civil money penalties. But did you know that businesses other than banks received 81% of these fines last year? Yes, OFAC violations are costing U.S. businesses hard-earned cash. Since the attacks of Sept. 11, …

  • 17 September

    Heartland Adds APIs for Ingenico Device and other Digital Transactions News briefs from 9/17/18

    Business-software provider Infor said it purchased Vivonet Inc., which provides point-of-sale software to the hospitality industry. Terms were not disclosed. Global Payments Inc. announced its Heartland acquiring and technology unit has developed application programming interfaces, end-to-end encryption support, and other software for Ingenico Group’s Desk/3500 terminal. PayPal Holdings Inc. announced …

  • 17 September

    AmEx Experiments To Find the Right Solutions for the Post-Plastic World

    American Express Co. formed its Digital Labs unit less than a year ago, and it has plenty to do as it evaluates new payment forms and new ways to attract cardholders and merchants. Digital Labs is concerned with digital payments, digital ways of engaging with cardholders, and research and development, …