The chief sponsor of the Durbin Amendment that regulates debit card interchange is calling the proposed settlement in a big credit card interchange court fight “a stunning giveaway” and “a capitulation to the Wall Street banks and credit card giants.” In addition, U.S. Sen. Richard Durbin, D-Ill., wants to fix …

The Durbin debit numbers are out, and they aren’t pretty for Visa Inc., the leading debit card player in the U.S. Visa on Wednesday reported that U.S. debit payments volume plummeted 9.8% in the third quarter of fiscal 2012 ended June 30, hitting $266 billion versus $294 billion a year …

With each passing day, the proposed settlement of the giant antitrust suit over credit card interchange and card network rules appears to unravel even more as big-box merchants increasingly express dissatisfaction with the $7-billion-plus deal. The latest is Wal-Mart Stores Inc., which issued a statement on Tuesday opposing the agreement …

More evidence of widespread merchant antipathy to the credit card interchange settlement announced July 13 emerged late Friday when big-box retailer Target Corp. came out against the plan. Industry observers expect more opposition from merchants to emerge, casting doubt on the settlement’s future. But a lobbying group for payment card …

PayPal Inc. on Wednesday said two more retail chains are rolling out PayPal acceptance in their stores. It also said its PayPal Here mobile-acceptance product, which it introduced in March, is now generally available to merchants in the U.S. and Hong Kong, markets where some 300,000 users have signed up …

No sooner had the ink dried on a proposed settlement of a massive credit card suit than cracks began to appear in what had been an edifice of merchant solidarity. The NACS, a national trade group for convenience-store operators, on Friday said its board of directors had unanimously rejected the …

The card networks, major U.S. banks, and U.S. merchants reached a $7-billion-plus settlement late on Friday, capping a seven-year battle over credit card interchange and network acceptance rules. If approved by the court, the settlement will be the largest such agreement ever in an antitrust case. Under the terms of …

The subject of vast amounts of hype, mobile payments are in fact becoming reality for many consumers. New findings from IDC Financial Insights show that 33.9% of consumers have made purchase on a mobile phone, up from only 19.3% in a similar survey last year. Mobile payments will further penetrate …

New Jersey has delayed implementation of the most onerous provisions of an unclaimed-property law affecting gift cards that caused American Express Co. and two major gift card distributors to pull out of the state this spring. The changes Gov. Chris Christie signed into law last week, however, don’t repeal the …

National Payment Card Association is out to prove the obituaries for decoupled debit were, as the saying goes, exaggerated. Not only does the company have 4,000 gas stations accepting its PIN-based debit cards, it expects a major petroleum vendor will begin accepting debit transactions through its platform on a mobile …