Pricing

Canadian merchants that accept Visa Inc. and Mastercard Inc. credit cards soon will be able to add a surcharge to some transactions following a settlement reached this week. The settlement, which stems from a 2011 class-action lawsuit against Visa, Mastercard, and a number of card-issuing banks alleging excessive fees, calls …

By John Stewart @DTPaymentNews The Republican lawmakers who pushed a bill through the House of Representatives last week to radically reform the Dodd-Frank Act did so after abandoning a provision that would have repealed the Act’s Durbin Amendment. But they made it clear in floor debate on Thursday that they …

By Dave Yohe Selecting the right partner to process payments is essential for organizations taking payments directly from consumers. While it might be tempting to choose the provider offering the lowest rate, the short-term gains from saving a little money can risk longer term business revenue. In the following paragraphs …

By John Stewart @DTPaymentNews A landmark anti-steering case against American Express Co. is going to the U.S. Supreme Court. Attorneys general from 11 states have asked the high court to review a decision handed down in September by a federal appeals court that upheld AmEx’s policy of banning merchants from

The decision to strip repeal of the Durbin Amendment from a Dodd-Frank overhaul bill puts a brake on the movement to get rid of the amendment’s debit card rules, but that may not necessarily be the end of the matter. Leading advocates for repeal vow to keep fighting, while a …

Merchants like programs that cover their credit card acceptance costs. So do ISOs and acquirers, some of which see a big opportunity in programs that help merchants with surcharging. Surcharging for credit card transactions or offering a cash discount may have obvious benefits for merchants, but these programs also carry …

• Opponents and proponents of repealing debit card interchange controls known as the Durbin Amendment prepared for a hearing on the Financial CHOICE Act Thursday with dueling press releases. The National Retail Federation, as reported earlier this week by Digital Transactions News, led a meeting of retailers interested in keeping the …

Offering a surcharging or cash-discounting program to merchants has obvious revenue benefits to merchants, but they have the potential to grow an independent sales organization’s or acquirer’s bottom line, too. Such programs enable merchants to cover their costs to accept credit card transactions by adding a fee to the purchase …

Bank card merchant acquirers participating in American Express Co.’s OptBlue program signed 1 million small businesses for AmEx acceptance last year, an AmEx executive tells Digital Transactions News. The push came as New York City-based AmEx drives toward chief executive Kenneth I. Chenault’s goal of having AmEx’s merchant base reach …

A survey of 500 small merchants that accept debit cards finds that 66% of them are satisfied with the fees they pay, says the Electronic Payments Coalition, a bank and network advocacy organization. Javelin Strategy & Research completed the survey, which the EPC sponsored. The findings are part of the …