Debit Cards

The proposed mega-deal that has Fiserv Inc. buying First Data Corp. for $22 billion presents integration issues that could take up to 10 years to iron out, according to a new report. “The integration of two companies of this scale will undoubtedly be a challenge—the short-term shock will take more …

The European Commission, the European Union’s antitrust regulator, fined Mastercard Inc. €570.6 million ($648.2 million) for restricting merchants’ ability to sign with an acquirer in another EU single-market country with interchange rates lower than rates in the merchant’s home country before December 2015, when regulations capped EU interchange. The Commission …

Almost a year after Visa Inc. altered the chargeback-resolution process, merchants are reaping some of the benefit. A survey of 500 Chargeback Gurus merchants found that 78% have fewer chargebacks under the Visa Claims Resolution program. “The first goal was to streamline the dispute process,” Suresh Dakshina, Chargeback Gurus president, …

The two co-founders of online transaction processor Adyen are now billionaires thanks to last week’s market upturn, according to Forbes. Chief executive Pieter van der Does holds a 4.8% stake in the company, which went public last year. Arnout Schuijff, chief technology officer, holds a 6.4% interest. Among Adyen’s U.S. …

Is it a cash discount or a surcharge? Some merchant sales agents may now have a little more insight into the answer to that question. Some payments industry observers see no distinction between whether a fee is added or removed from a product’s final price to cover the cost of …

Square Inc. introduced its Square Card for its merchants, a Mastercard-branded business prepaid card issued by Sutton Bank that makes funds in the seller’s Square account available instantly for purchases. Holders of the no-fee dual-interface card get a 2.75% discount when they make purchases at other Square sellers’ locations. Fit …

The proposed merger of Fiserv Inc. and mega-processor First Data Corp. has huge implications for many parts of the payments industry. But the deal, if consummated as planned, could have an especially large effect on the U.S. debit card market. First Data owns the Star electronic funds network, while Fiserv …

In a stunning announcement that surprised many observers, Fiserv Inc. said Wednesday morning it has struck a deal to acquire First Data Corp. with what the parties say will be the biggest ever such transaction in the payments and financial-technology businesses. The all-stock deal, expected to close in the third …

The PCI Security Standards Council on Wednesday published its new software security standards and said the existing standard will be retired in 2022. The new set of requirements actually has two major components—The PCI Secure Software Standard and the PCI Secure Lifecycle Standard—and is under the umbrella of what the …

PenFed Credit Union announced Tuesday it will begin issuing contactless Visa-branded credit and debit cards this month. The move comes after a decision by Chase, a unit of JPMorgan Chase & Co., to issue dual-interface cards that will be in force this year. The cards are called dual interface because …