Sunday , October 22, 2017

Pricing

BIM Brings an ACH-Payment Option to Phillips 66, Conoco, and 76 Gas Stations

Consumers using the Phillips 66, Conoco, or 76-branded smart-phone apps soon will be able to pay for fuel using their checking accounts thanks to an integration with Buy It Mobility Networks, a New York City-based payment and customer relationship management platform. Announced Tuesday, the service will be available soon, says …

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Letting Users Pay Merchants With Venmo Could Spur New Revenue From a New Crowd

PayPal Holdings Inc. has been talking for more than a year about allowing users of its popular Venmo person-to-person payments app to use the app to pay merchants. On Tuesday, the payments company threw the door wide open for Venmo, announcing it can now be used to pay at as …

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They May Not Like the Terms, But Issuers Will Likely Re-Up for Apple Pay

The first big wave of Apple Pay contracts are expiring this month, and a big question for both Apple Inc. and the financial institutions that committed to support the computing giant’s mobile-payments app is whether to renew, and under what terms, in the face of less-than-spectacular results for mobile payments …

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Merchants Celebrate the Durbin Amendment’s Sixth Birthday as Payments Group Sneers

The Durbin Amendment’s debit card interchange price cap took effect six years ago this month, prompting a merchant group to celebrate the occasion and claim the measure has saved consumers and merchants $48 billion. But a lobbying group of payment networks and banks derided those savings estimates and once again …

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As Out-of-Network ATM Fees Climb to an All-Time High, Cash Gets More Expensive

In the age of electronic payments, cash is getting more and more expensive—even when accessed via electronic means. Nationwide, it costs consumers $4.69 to withdraw money from a so-called out-of-network ATM. That’s up 2.6% from a year ago, according to the latest data from Bankrate Inc., a New York City-based …

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Revolution Payments Launches Interchange-Adjustment Service and other Digital Transactions News briefs

Payments provider Revolution Payments announced an interchange-adjustment service for business-to-business and business-to-government credit cards that automatically attaches details to each transaction that qualify the transactions for level 3 interchange rates, which are less than level 1 and level 2 rates for such transactions. Unattended-payments specialist USA Technologies Inc. announced a partnership with Premier Food Service …

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Why Have Transactions And Dollar Volume Dropped for Same-Day ACH?

So far, most observers would agree same-day ACH credit processing, introduced nearly a year ago on the nation’s automated clearing house network, has been a success. Users appear to be satisfied with the service, and risk appears to be under control, observers say, despite the shorter windows for fraud detection. …

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Durbin Repeal Effort Could Be Complicated by Nuanced Position of Some Small Banks

In the wake of a failed effort to repeal the Durbin Amendment this spring, many banks, networks, lobbying groups, and other repeal advocates are vowing to try again, as are the Congressmen who pushed the original repeal effort. But that doesn’t mean smaller banks, at least, are totally united behind …

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Visa, Mastercard Reach Surcharging Settlement in Canada

By Kevin Woodward@DTPaymentNews Canadian merchants that accept Visa Inc. and Mastercard Inc. credit cards soon will be able to add a surcharge to some transactions following a settlement reached this week. The settlement, which stems from a 2011 class-action lawsuit against Visa, Mastercard, and a number of card-issuing banks alleging …

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