Pricing

An Illinois merchant’s allegations that Apple Inc., Mastercard Inc., and Visa Inc. worked to artificially maintain pricing by agreeing to funnel Apple Pay transactions via the two card networks was dismissed this week by a judge in the U.S. District Court for the Southern District of Illinois. Filed in December …

A ruling in the United Kingdom could imperil the validity of multilateral interchange fees in the United Kingdom and Ireland assessed by Mastercard Inc. and Visa Inc. A U.K. tribunal Friday ruled the fees infringe on competition law. The Competition Appeal Tribunal ruled the fees infringe on prohibitions to restrict, …

With action Tuesday by the U.S. Senate to pass the GENIUS Act, the move to establish rules that would govern the burgeoning stablecoin industry now transits to the U.S. House of Representatives, where lawmakers have developed their own set of rules, the STABLE Act. Meanwhile, stablecoin-market participants are looking to the …

Efforts to attach the Durbin-Marshall Amendment to the proposed GENIUS Act, a bill to regulate stablecoins, have failed. The Senate moved late Wednesday to advance the stablecoin bill without any amendments. Efforts to attach the amendment, which is the latest version of the Credit Card Competition Act, to the GENIUS …

FlightLogger, a provider of software for flight training, has chosen BlueSnap Inc. as its payments provider globally. Gross proceeds to Circle Internet Group Inc. from its recent initial public offering came to $1.2 billion, a total that includes an agreement by underwriters to purchase an additional 5.1 million shares of Class A common stock …

PNC Bank early Wednesday announced the launch of PNC Mobile Accept, a card-acceptance solution for micro-merchants. The app allows very small merchants to accept card payments using their mobile phones or tablet computers without a requirement for external hardware and without paying monthly subscription fees, the bank says. The app …

The Teamsters Union, along with labor unions in the retail and food-service sectors, sent a letter to Congress Wednesday supporting the Durbin Marhsall Amendment to the GENIUS Act, a bill to regulate stablecoins. The endorsement is the latest salvo in the ongoing battle over the Credit Card Competition Act, which …

Several organizations representing the payments industry sent a letter to Congress late Wednesday urging lawmakers not to pass legislation that will tax cross-border remittances originated in the United States and will require money transmitters to gather identity and citizenship verification data from the sender. The bill has advanced to the …

More states are introducing legislation exempting merchants from paying interchange on sales tax and tips. Bills are currently pending in Alaska, Massachusetts, and New York. In Alaska, the proposed bill, which was attached at the 11th hour to a bill authorizing businesses to pay employees using reloadable cards, has been …

Sponsors of the Credit Card Competition Act saw the passage of the GENIUS Act on a preliminary vote as an opportunity to give the CCCA new life in advance of plans to reintroduce the legislation in the current Congress. Attaching the bill to the GENIUS Act, which would regulate stablecoins, …