Pricing

JPMorgan Chase & Co., which this spring stopped selling Visa gift cards through its network of branches, has now quit the business entirely. The decision comes weeks ahead of the biggest selling season of the year for gift cards but doesn’t surprise some observers, who point to the challenges recent …

All eyes in the payments business were riveted on Brooklyn earlier this month as lawyers wrangled in federal court over the proposed credit card interchange settlement. What many interested parties—including most observers in the courtroom that day–may have missed, however, is that the hearing brought to light for the first …

By John Stewart n The inexorable economics of the Durbin Amendment are beginning to make themselves felt in the vibrant business of network-branded gift cards. n JPMorgan Chase & Co., one of a handful of major banks that offer Visa- and MasterCard-branded gift cards, this spring stopped selling its Visa …

By Jim Daly Plenty of Americans are still getting free checking, but not as many as last year, according to new findings from the American Bankers Association. The Washington, D.C.-based trade group’s latest annual consumer survey says 55% of bank customers spend nothing each month for banking services and ATM …

Findings from an overlooked Federal Reserve Board report from last March portend that the possible cuts in debit card interchange as a result of a major court decision last month could be even bigger than many observers initially thought. In the report, the Fed said that authorization, clearing, and settlement …

By Jim Daly The Federal Reserve on Wednesday said it would appeal the July 31 decision by a federal judge overturning the board’s rule implementing the Durbin Amendment, the section of 2010’s Dodd-Frank Act that regulates debit cards. The news came from Scott Alvarez, the Fed’s general counsel, at a …

Shopify Inc. hopes to lure small online sellers by the thousands to its e-commerce platform by making the typically vexatious business of taking payments as easy as possible. On Monday, the Ottawa-based company announced Shopify Payments, a service that lets Web merchants sign up to accept a broad range of …

In one of the most dramatic developments of the year in the electronic-payments business, a federal judge on Wednesday struck down the Federal Reserve Board’s pricing and routing rules for debit card transactions, arguing the banking regulator misinterpreted federal law. The rules, which implemented the Durbin Amendment to the 2010 …

First Data Corp.’s net loss widened in the second quarter on overall revenue that barely budged from the year-ago period, the huge transaction processor reported on Tuesday. The results throw into relief questions swirling around the Altanta-based company about whether its new top brass can kick-start growth. The company’s $189 …

Financial institutions wanting to expand the number of ATMs their customers can use in retail locations without those customers paying surcharges have a new option available under an approach announced late last week by Houston-based Cardtronics Inc. While Cardtronics has for years offered financial institutions the ability to put their …