ATM network changes and legislation rank as the top worries of ATM independent sales organizations, while declining transaction volumes also keep many ATM ISO executives up at night, according to newly released survey results. Kahuna ATM Solutions, a Bloomington, Ill.-based ATM ISO that services smaller ISOs, commissioned the survey, which …
Read More »Merchants Move To Counter Growing Opposition to Debit Regulation
With opposition to looming debit card interchange regulations growing, merchant groups that would benefit from regulation by way of lower payment card acceptance costs are making a case to prevent the Federal Reserve Board’s planned rules from being delayed or scuttled. Much of the questioning about the Dodd-Frank financial-reform law’s …
Read More »Petroleum Sales, Security Upgrades, Services Help Buoy Results for VeriFone
Supposedly mature North America lately is sporting growth rates befitting a green-field market for leading point-of-sale terminal maker VeriFone Systems Inc. VeriFone, which is moving ahead with plans to buy rival Hypercom Corp., late Tuesday reported that North American revenues increased 43% in its first fiscal 2011 quarter ended Jan. …
Read More »Fiserv Deals Propel It Deeper into Mobile Products And Prepaid
Banking processor Fiserv Inc. announced a trio of acquisitions in a 24-hour period that included picking up Atlanta-based mobile-banking technology provider Mobile Commerce Ltd., known as M-Com. Brookfield, Wis.-based Fiserv also announced it is acquiring Maverick Network Solutions Inc., a Wilmington, Del.-based prepaid card processor, and Credit Union On-Line Inc., …
Read More »Cumbersome Paperwork Rule Will Go Away in April for Visa Fraud Chargebacks
Continuing a chargeback-streamlining process that began back in 2004, Visa Inc. in April will no longer require card issuers to obtain signed paper documentation in disputes involving transactions the cardholder claims are fraudulent. Instead, issuers may submit the required documentation electronically. Visa is not mandating that issuers eliminate signed documentation, …
Read More »One Payments Company, At Least, Shows How Consumers Could Gain from Durbin
Merchants and other proponents of the Dodd-Frank Act’s Durbin Amendment, which will regulate debit card interchange rates starting this summer, argue that the law will benefit consumers by allowing retailers to pass on lower transaction costs to their customers. While banks and other critics say this is unlikely, an alternative-payments …
Read More »It’s Regulated by Durbin, But SECU Is Going Ahead with EMV Conversion
With $21.5 billion in assets, enough to rank it the second-largest credit union in the country, Raleigh, N.C.-based State Employees Credit Union will sustain a substantial loss of debit card interchange income when the Durbin Amendment to the Dodd Frank Act takes effect this summer. But that isn’t stopping the …
Read More »Moneris and Merchants Reach a Deal That Could Keep Canada’s Voluntary Code Voluntary
A small-business trade group and Canada’s leading merchant acquirer reached a deal on Thursday that seemingly ends a dispute that, had it continued on its original course, might have transformed Canada’s seemingly voluntary code of conduct for payments companies into a mandatory one. At issue was a Dec. 30 letter …
Read More »How Parking Payments Are Going High-Tech
The prospect of combining on one contactless card payments for parking and transit fares would seem like a winner for hundreds of thousands of commuters who drive each morning to transit parking lots and then hop on a train or bus to the office. That was one idea floated last …
Read More »As the Curtain Falls, Durbin Comments to the Fed Show a Sharp Divide
Tuesday is the final day for commentators to submit their opinions to the Federal Reserve Board about the board’s proposed rules to implement the interchange regulations and other debit card provisions of the Dodd-Frank financial-reform law’s Durbin Amendment. Samples from the approximately 2,700 comments that have rolled in over the …
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