The Florida merchants that sued all the major card networks and eight of the 10 largest bank issuers last month saw no other way to deal with the flood of chargebacks they incurred after the EMV liability shift, according to a top executive with one of the merchants and an …

Two weeks after what has come to be regarded as the official start date for EMV chip cards in the United States, senior executives with the major card networks gave a largely upbeat progress report to an audience of acquiring-industry owners and managers last Thursday, while acknowledging that much work …

  Add TransFirst Holdings Inc. to the growing roster of payments companies turning to the publicly traded stock markets to raise cash. The big merchant acquirer late Friday announced it filed an S-1 registration statement with the U.S. Securities and Exchange Commission for an initial public offering of stock. The filing, …

A significant chunk—44%—of small-business owners have no knowledge of the EMV liability shift coming Oct. 1. That finding from “Small Business EMV Readiness,” a report released by Javelin Strategy & Research this week, suggests that many might be in for a shock when their merchant-processing statements arrive in November and …

A federal judge on Tuesday nullified a pending settlement between American Express Co. and merchants in a class-action lawsuit over AmEx’s anti-steering rules because of improper conduct by a co-lead attorney for the merchants. The decision immediately cast a shadow over the $5.7 billion settlement Visa Inc. and MasterCard Inc. …

By Jim Daly Some merchant categories such as restaurants are moving slowly into EMV chip card acceptance ahead of the looming Oct. 1 liability shift because they experience little of the fraud EMV cards are intended to prevent, while others are going to find losses “winging back at them,” executives …

Processor Global Payments Inc. says it will offer American Express Co.’s OptBlue merchant-acceptance program to its Canadian merchants beginning June 24. Participation in OptBlue enables merchant acquirers and independent sales organizations to offer AmEx acceptance to small businesses and set the pricing through a one-stop-shopping option when they sell acceptance …

Some 400,000 small merchants now accept American Express Co. payment cards through the OptBlue program that AmEx announced nearly a year ago. OptBlue enables bank card merchant acquirers and independent sales organizations to offer AmEx acceptance to small businesses and set the pricing through a one-stop-shopping option when they sell …

An appellate court’s Friday decision reinstating the Federal Reserve Board’s controversial interpretation of the Dodd-Frank Act’s Durbin Amendment with its debit card interchange cap and transaction-routing requirements continues to draw fire, but whether the merchants and retail groups that brought the appeal and lost will trudge on in court remains …

American Express Co. is stepping up its campaign to add small merchants to its acceptance base with a program called OptBlue that gives partner merchant acquirers a greater role than they had with an older program called OnePoint. AmEx started testing OptBlue late last year and revealed details about it …