Startups and established companies alike are betting that consumers obsessed with daily deals could jump-start mobile payments. But it may take a while for that bet to pay off. By Jane Adler Rewards redemption with a mobile device at the point of sale isn’t a …
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Security: Why PINs Need Performance-Enhancing Technology
Linda Punch Increasingly sophisticated fraud schemes show that personal identification numbers are more vulnerable than once thought. Bring in the reinforcements. For the past 40 years, personal identification numbers have built an enviable reputation as a nearly inviolable security feature. They’re much more secure than …
Read More »Fifth Third’s Credit/Debit Card: A Response to Customers, But Also Suited to Durbin
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Read More »New Debit Card Usage Fees Raise Questions About Their Stickiness
Banks are likely to continue testing debit card usage fees in the wake of the Federal Reserve’s new price controls on debit interchange, though such fees are generating heated debate about whether they make good business sense. “Disincenting consumers to use debit cards I just think is a terrible strategy …
Read More »Eschewing ‘Participation’ Fees, MasterCard Will Sweet-Talk Debit Issuers One by One
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Read More »Visa Outlines New Fee Structure To Defend Its Debit Business
As Visa Inc. moves into the post Durbin-era, the debit card market leader plans to offer a fixed network participation fee and reduce its variable processing fee for Visa debit products in the United States. Executives expect the new fee structure will make Visa a more viable alternative to competing …
Read More »As Fed Debit Rule Sinks in, Merchant Class Action Grinds Toward Trial
Now that the Federal Reserve’s new debit card interchange regulations are finally out in the open, the profile of yet another payment card interchange and rules controversy is slowly rising. That’s the raft of merchant antitrust lawsuits pending in U.S. District Court in Brooklyn, N.Y., collectively known as “MDL 1720.” …
Read More »Acquiring: A Partly Cloudy Forecast
Karen Epper Hoffman The recession and the shaky recovery have taken their toll on acquiring, though the business has fared better than most other industries. Now, the business could be set to soar—if factors like Durbin don’t choke off growth. In an economy where even the strongest …
Read More »Strategies: Small Banks, Big Imperative
Peter Lucas Keeping up with change in electronic payments is hard, but essential, work for community banks. Here’s how they’re doing it. Every time a huge bank—Bank of America Corp., JP Morgan Chase & Co., and Wells Fargo & Co., for example—makes a splash in payments, as …
Read More »Opinion & Analysis: What Visa Is up to
n by Steve Mott While most observers have viewed Visa’s recent string of acquisitions as a mere broadening of its conventional card franchise, a long-time analyst of the payments business sees a clever play for dominance of the digital future. Just when the U.S. payments industry appears poised …
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