One of the biggest changeovers in the history of general-purpose credit cards is set for this weekend when warehouse retailer Costco Wholesale Corp. stops accepting American Express Co. cards and begins taking Visa Inc. cards. In an email to its customer-members this week, Issaquah, Wash.-based Costco said to “mark your …

The Home Depot Inc.’s new lawsuit against Visa Inc. and MasterCard Inc. makes many of the same antitrust allegations that other merchants have lodged against the big networks in recent years. The suit, however, is notable for asking the court to quash Visa’s Fixed Acquirer Network Fee (FANF) and, like …

Visa Inc. on Tuesday reported that gas stations using a service it introduced two years ago to prevent card fraud at fuel pumps has reduced counterfeit fraud by 54%. Visa says that more than 35,000 U.S. gas stations now use its Visa Transaction Advisor technology at the pump, and that …

Wal-Mart Stores Inc.’s 400-store Canadian unit announced Saturday that it will no longer accept Visa payment cards in its stores beginning with phased discontinuance starting July 18. “Following an evaluation of credit card transaction fees in Canada and the rest of the world, we have concluded the fees applied to …

U.S. Sen. Richard Durbin on Thursday asked MasterCard Inc. to explain an obscure fee with a clunky name that the senator believes penalizes MasterCard issuers when merchants exercise their transaction-routing rights under the Durbin Amendment with MasterCard debit card purchases. But MasterCard says issuers benefit whenever its cards are used, …

The U.S. conversion to EMV chip cards has produced a windfall for VeriFone Systems Inc. over the past couple of years. But despite record revenues in the quarter ended April 30, delays in getting EMV equipment certified contributed to sharply lower profits and financial expectations for the leading domestic point-of-sale …

Nearly 283 million Visa-branded credit and debit cards issued by U.S. financial institutions now have an EMV chip, Visa Inc. reports. In addition, some 1.1 million U.S. merchant locations that accept Visa cards now take chip cards. In the latest of the payment card networks’ updates on the U.S. chip …

A trade group of independent ATM deployers on Thursday issued a report blasting the federal government’s Operation Choke Point targeting high-risk merchants, and the nation’s leading retailer association called on the Federal Trade Commission to investigate the PCI Security Standards Council on antitrust grounds. While mostly affecting a few merchant …

The PCI Security Standards Council on Friday released version 3.2 of its Payment Application Data Security Standard, which sets rules for payment-processing software. The new PA-DSS aligns with the recently updated main security standard, the Payment Card Industry Data Security Standard version 3.2. Today’s update was expected, as the Wakefield, …

Minimizing fraud is by far the top payment concern of e-commerce merchants, according to findings from the Merchant Risk Council’s newly released global payments survey. Some 46% of all merchants surveyed about payments and e-commerce issues affecting them in 2015—51% of MRC members and 35% of non-members—ranked managing e-commerce fraud …