Credit Cards

A new report from Surfshark, a provider of virtual private network services, finds that the United States far outpaces the top nine other major economies when it comes to the rate of breached payment card details. Based on 5.7 million payment card data points that have been compromised since 2004, …

If the Illinois Interchange Fee Prohibition Act survives the legal challenges it faces, the law would “create significant market distortions,” says a recent report from the International Center for Law & Economics, a Portland, Ore.-based nonprofit research and policy center. Some of the most significant impacts on the market, according …

With the odds against the Credit Card Competition Act coming to a vote before the current Congress adjourns growing by the day, the bill’s future appears bleak. Prospects that the bill might advance received a major blow last week as Sen. Thom Tillis said during a Senate Judiciary Committee hearing …

Some 79% of airline passengers globally use debit and credit cards for all or most airline travel, but digital wallets and instant payments are gaining ground, according to “Online Airline Booking Insights 2024,” a report from ResearchAndMarkets.com. Some 72% of passengers book most of their trips online. Nearly two-thirds of U.S. …

Consumers irked by the difficulty of unenrolling from some subscription services will gain relief May 14, when merchants must be compliant with the Federal Trade Commission’s revised Negative Option Role, otherwise known as click to cancel. Merchants, however, have a lot of work between now and then. The rule, which …

The Bureau of the Fiscal Service, part of the U.S. Treasury Department, has appointed the Bank of New York Mellon Corp. to manage the bureau’s Direct Express prepaid debit card program under a five-year agreement, starting Jan. 3. Fraud-prevention platforms Bectran Inc. and Giact Systems LLC are partnering to offer companies services …

Members of the Senate Judiciary Committee told representatives of Visa Inc., Mastercard Inc., and the merchant community on Tuesday it was time to “negotiate” an end to their decades-old dispute over credit card swipe fees. The comments came during a Senate Judiciary Committee hearing billed as “Breaking the Visa-Mastercard Duopoly: …

Debit cards not using prepaid funds accounted for 58% of U.S. card spending in 2022, the Atlanta Fed noted in a review of a Federal Reserve Payments Study released last week. Credit cards were used for 36% of payments and 6% of payments were made with prepaid debit cards. Cantaloupe Inc. will serve as …

Buy now, pay later processor Affirm Inc. said it is expanding its partnership with Priceline to include online travel agency Priceline’s business-to-business platform, Priceline Partner Solutions. Canada-based processor Nuvei Corp. announced it has completed the process of going private after five years as a public company. Neon Maple Purchaser Inc., a unit of Advent …

Discover Global Network continues to expand its international business through a deal with Panamanian payment processor Telered S.A. Telered manages the Sistema Clave, or Clave System, which Discover says is the largest interbank network of ATMs and points of sale in Panama. In business for more than 30 years, Clave’s …