Wednesday , December 4, 2024

Pricing

MPI Case May Not Be the Last ISO Action, FTC Says

A recent case filed by the Federal Trade Commission against an independent sales organization in Beaverton, Ore., may not be the last such action the federal regulator will bring. In April, the agency sued Merchant Processing Inc. in federal court, alleging the ISO duped merchants by promising to buy out …

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Why Synovus Is Optimistic About NACHA’s Secure Vault Payments

Unlike its experience with online bill payment, Synovus Financial Corp. expects ultimately to generate significant revenue from a new Internet payments system based on the automated clearing house for which a 12-to-18-month pilot will start by October. Exactly how much revenue, however, may depend on the pilot itself, as well …

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NACHA Will Soon Unveil Pricing for Its Online Payments Pilot

NACHA-The Electronic Payments Association expects to release pricing details in about two weeks for its long-awaited online-payments pilot, an official working on the project says. The details will set out a form of interchange fee merchants' banks will pay to banks that will authorize transactions and authenticate consumers, as well …

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On Interchange, the NRF Turns to the States, Underscoring Sales Tax

If regulation can't be avoided, national trade groups often prefer federal regulation over regulation by states on the theory that one set of rules is less costly and easier to comply with than 50 different sets of rules. But when it comes to interchange, the National Retail Federation is challenging …

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Star To Test PIN-less Debit for Online Micropayments

With the aim of expanding the debit card's reach into the booming world of Web-based micropayments, the Star electronic funds transfer network plans to start testing PIN-less online debit payments within a few weeks. The test will run about four months and involves Solana Corp., which will act as an …

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Wal-Mart Goes Chainwide with POP in Bid to Cut Payment Costs

Rejected by many retailers, the point-of-purchase electronic-check code has one fan that really counts: Wal-Mart Stores Inc., the world's largest retailer. Bentonville, Ark.-based Wal-Mart expects the last 300 of its approximately 3,400 U.S. Wal-Mart locations to go live with the automated clearing house payment option next Monday. Wal-Mart's push behind …

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HSBC’s New Rewards Program Could Spark Growth for Tempo

Tempo Payments Inc.'s alliance with HSBC Retail Services appears to be bearing fruit. HSBC's new OptiPay loyalty-rewards PIN-payment program, announced earlier this week, will be the first outside card program to run on Tempo's network. Positioned as a low-cost alternative to the major payment card networks, San Mateo, Calif.-based Tempo …

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Payments Upstart GratisCard Aims to ‘Eliminate’ Interchange

A well-financed startup company staffed by experienced card and marketing executives plans to launch in April an all-in-one, PIN-protected credit-debit-prepaid card with an acceptance cost that may resonate favorably these days with interchange-weary merchants: 0.50% of the sale. “One of our core tenets is to eliminate interchange altogether,” said Jason …

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Visa, MasterCard Entry in Reloads May Aid Unbanked, Hike Income

The bank card networks are staking out major positions in the business of reloading prepaid debit cards, in a move that leverages their existing networks and could give a boost to efforts to bring electronic financial services to the underserved consumer market. At the same time, their entry into reloads …

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