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- On Saturday, a final rule issued in October by the Federal Reserve goes into effect, requiring that all issuers offer a choice of at least two networks for routing online debit card transactions. The update, derived from the 2010 Durbin Amendment, has been a bone of contention for years between merchants and issuers.
- Pavilion Payments, a specialist in processing for casinos, announced it will participate as an ambassador for the Las Vegas Host Committee Ambassador Program, a newly formed initiative aimed at promoting the city during special events such as the upcoming Super Bowl LVIII.
- Netspend Corp. announced the Leagues Cup organization has selected the company as the official debit, prepaid cards, and remittance partner for the Leagues Cup, a tournament involving Major League Soccer and LIGA MX teams. Texas-based Rev Worldwide in May bought Netspend from Global Payments Inc. for $1 billion in cash.
- Payments platform Zip launched Zip Vendor Cards, aimed at allowing businesses to issue virtual cards with a single click for recurring and one-time transactions.
- Synchrony Financial said its CareCredit “health and wellness” credit card has been integrated with software from Nextech, a technology provider for specialty medical practices.
- Pushpay, a payments provider specializing in churches and other nonprofits, launched Church Tech Check, an online utility allowing churches to see how they rank with respect to technology usage. The service relies on data derived from the company’s work with more than 15,000 churches over more than a decade.
- The Merchants Payments Coalition says credit card swipe fees could drive up consumers’ cost to celebrate Independence Day by $513 million. The MPC based that figure on estimates of purchases and payment card acceptance costs for fireworks, food, alcohol, and flights bought around the Fourth of July holiday. The trade group supports a measure in Congress that would lower interchange.
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