Transaction Processing

By Rick Oglesby and Brad Margol A 2015 European Parliament regulation, EU2015/751, caps the fees that a European cardholder’s bank may charge a merchant’s bank (interchange fees) at 0.2% for debit cards and 0.3% for credit cards. Also passed in 2015, and ramping up to full effect in January of …

By John Stewart @DTPaymentNews If Amazon.com Inc.’s $13.7 billion acquisition of Whole Foods Market Inc. closes later this year as expected, it could set the stage for a radical redefinition not just of in-store payments, but of the checkout experience itself, observers say. The deal, which Amazon announced late last …

Consumers may not realize it, but their mobile phone is a gateway for criminals to take over their bank accounts. In a fast-growing scam known as SIM swapping, criminals transfer the phone number associated with a consumer’s mobile phone to the SIM card embedded in a mobile phone in their …

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 excessive fees, calls …

• Cavendish Asset Management, the biggest investor in mobile-banking and payments technology provider Monitise plc, said it will vote against the planned buyout of Monitise by Fiserv Inc. because the U.S. financial-institution processor’s $89 million offer is too low, Reuters reported. • Fair Issac Corp. (FICO) released the FICO Card Compromise Manager, a service …

The allure of subscription payments has captured the fancy of merchants and payments companies alike, but churn—the loss of a paying customer—may not only affect revenue, but hamper innovation, finds “The Art and Science of Reducing Involuntary Subscriber Churn” report released Wednesday by Digital River Inc. The report, which canvassed …

By Peter Lucas@DTPaymentNews If banks are to gain the upper hand in the hotly contested person-to-person payments market, the Zelle network, which launched earlier this week, must make good on its promise of real-time payments while allowing consumers to complete P2P payments in the most intuitive way possible, payments experts …

By Jim Daly and Kevin Woodward@DTPaymentNews Financial-institution processor Fiserv Inc. reported Tuesday that it plans to buy United Kingdom-based Monitise plc, a faded star of the early mobile-banking and payments era that still has some valuable technology, for £70 million ($89 million) in cash. And HalCash North America, which goes …

• Processors Bora Payment Systems, Bottomline Technologies, CSI globalVCard, MineralTree, and Priority Commercial Payments have become the first companies to receive approval from Visa Inc.’s Visa Ready for Business Solutions program, which helps technology companies integrate with Visa’s business-to-business payments services. • In related news, Visa announced it will be equipping the stadiums …

By O.B. Rawls IV Pivot. Transform. Expand. In today’s business landscape, especially in and around payments, flexibility and agility are key. Businesses must be prepared to evolve, regardless of their size, longevity, or core service and product offerings. But, for any of us who have been in business for a …