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The unceasing controversy over the Durbin Amendment and its debit card interchange price controls continued Wednesday when two members of Congress declared they would introduce legislation to repeal the measure. The Republican-controlled House of Representatives might very well pass the bipartisan proposal, but its survival chances are much lower in …
Read More »PayPal Access Debuts to Streamline User Enrollment on E-Commerce, Mobile Sites
n To use PayPal Access, a site must sign up for a PayPal account but is not obliged to accept PayPal. The new system then gives the site access to some 100 million active PayPal users, who can control how much information they want to share. If a user …
Read More »PayPal Plans to Issue a Card for POS Use Starting First Half of 2012
PayPal Inc., a dominant processor of e-commerce transactions, has made no secret lately of its ambitions to move into the world of brick-and-mortar commerce. The only missing element was a physical token that account holders could use at the point of sale. Now it appears that void will soon …
Read More »Durbin Continues Blasting BofA Debit Fee with ‘No Way BofA’ E-mail Campaign
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Read More »A Vending Machine Payment Processor Hopes To Preserve Interchange Incentive
Apriva Inc., a major processor of payment transactions from vending machines, this week told machine owners that it is working to assure their card-acceptance costs will remain stable despite the uncertain status of a program it has with Visa Inc. that gives them an interchange break if they install hardware …
Read More »New Figures Show How a Handful of Players Dominate the Acquiring Business
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Read More »Yet Another New IRS Tax-Reporting Revision Adds to Acquirers’ Burdens
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Read More »Durbin Casts a Wary Eye on Rising Small-Ticket Debit Interchange
U.S. Sen. Richard Durbin on Tuesday said he is aware that new Visa and MasterCard interchange schedules will cause some merchants to pay much more in interchange when a consumer uses a debit card from a big bank to pay for small purchases. Durbin said the Federal Reserve Board should …
Read More »Unfazed by a Patent-Office Rebuff, LML Soldiers on with Infringement Case
n “It’s not final by any means,” vows Patrick H. Gaines, chief executive of Vancouver, British Columbia-based LML. The company is preparing an appeal of the patent office’s action, he says, and has also applied for its own re-examination, which could allow it to add or amend claims. “Certain …
Read More »CashStar Readies a Mobile App That Taps Bank Rewards Points for Retail Gift Cards
CashStar Inc. plans early next year to roll out a mobile app that will let consumers tap unredeemed rewards points held at banks to buy digital gift cards from major merchants. The app will also feature location-based alerts to let users know when they are near a merchant issuer. …
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