Law and Regulation

Almost a year after Visa Inc. altered the chargeback-resolution process, merchants are reaping some of the benefit. A survey of 500 Chargeback Gurus merchants found that 78% have fewer chargebacks under the Visa Claims Resolution program. “The first goal was to streamline the dispute process,” Suresh Dakshina, Chargeback Gurus president, …

Merchant plaintiffs and the state of New York filed motions Tuesday in a federal appellate court to dismiss the merchants’ challenge to New York’s law banning credit card surcharges. As a result, surcharges will be allowed when the merchant posts total prices for credit card purchases in dollars and cents. …

With the enactment of data-breach notification laws in South Dakota and Alabama in 2018, all 50 states now have such laws, according to the Covington & Burling LLP law firm. Financial-institution processor Fiserv Inc. said the newly chartered Mi Bank in Bloomfield Township, Mich., will use a variety of Fiserv …

In a lawsuit filed last week in federal court in Atlanta, mobile point-of-sale specialist AnywhereCommerce Inc. claims Ingenico Group SA interfered with its contracts and business relationships and violated its trade secrets. The case, filed Dec. 20 in the Northern District of Georgia Atlanta Division, alleges that Paris-based Ingenico and …

Mindbody Inc., the health and wellness software-application provider, said Vista Equity Partners will buy the company for $1.9 billion. Shareholders will receive $36.50 per share, a 68% premium over Mindbody’s Dec. 21 closing price of $21.72. Mindbody became an independent sales organization in 2010 to be able to sell its …

After a lull of more than five months, merchant processor Square Inc. is resuming its attempt to obtain a bank charter. A spokesperson for San Francisco-based Square confirmed Wednesday morning that the company would refile its application the same day. Square in September 2017 filed for an industrial-bank charter from …

Big banks generally aren’t too thrilled about the Federal Reserve taking a direct operational role in a U.S. real-time payment system, but smaller banks and credit unions as well as some big companies support the idea. The Fed’s two-month comment period on its proposed Real Time Gross Settlement service closed …

A number of U.S. payments providers have expanded overseas in recent years, and now more may have an incentive to do so if recent research showing robust growth in merchant acceptance is any indication. The number of physical stores or outlets accepting payment cards worldwide reached 69.2 million last year, …

Cloud-based point-of-sale system maker ShopKeep said it closed a $65 million funding round, led by Tribeca Venture Partners, that it will use for expansion and growth purposes. New investors include First Data Corp. and Salesforce Ventures. A staff report released by Republicans on the U.S. House Oversight and Government Reform …

Payments provider SignaPay released a mobile app for Apple and Android devices called PayLo Mobile Sales to help sales agents selling the PayLo Cash Discount product. Installment-payments provider Sezzle said it raised $100 million in funding from Bastion Capital. Since launching the service more than a year ago, Sezzle says …