Visa Inc. and a prominent law firm serving financial-industry clients want the Federal Reserve Board to regulate debit card interchange by setting an “average effective interchange rate” and then letting the payment card networks set their own rates as long as the average interchange rate on transactions subject to regulation …

With its developer conference just ahead and new markets such as mobile payments opening up, PayPal Inc. put the oomph in its parent company eBay Inc.’s third-quarter financial report. But with more than 90 active million customers and $22 billion in quarterly payments volume, a question on some minds is …

Reflecting trends seen by its larger network competitors, Discover Financial Services on Monday reported modest growth in credit card volumes and bigger growth in debit. Discover, in releasing earnings for its third fiscal 2010 quarter ended Aug. 31, also said that its 4-year-old effort to recruit merchant acquirers to sign …

With the coming of debit card interchange regulation and more merchant freedom from payment card network operating rules, Visa Inc. has established what it calls “strategy teams” to develop alternatives and respond once the Federal Reserve issues new rules next year. That’s the word from Visa chief financial officer Byron …

Powered in part by surging government programs, open-loop prepaid cards barreled along in 2009, according to new findings from Mercator Advisory Group Inc. Now the question is whether that growth will continue after new payment card regulations kick in some time next year. Maynard, Mass.-based Mercator estimates users loaded $124.6 …

The profits rolled in for MasterCard Inc. in the second quarter despite a lackluster performance by the No. 2 payment card network’s U.S. operations. Several portfolio losses hurt MasterCard’s debit results in both the United States and the United Kingdom, though top executives said at a Tuesday morning conference call …

Just two weeks after announcing its biggest EFT network partnership with the Discover Financial Service-owned Pulse network, online PIN-debit technology provider Acculynk Inc. landed an even bigger fish. Under a deal announced Wednesday, MasterCard Inc.’s approximately 8,500 U.S. Debit MasterCard issuers will have the option of offering Acculynk’s PaySecure service …

Visa and MasterCard debit card issuers stand to lose up to $10.7 billion in interchange income a year in a worst-case scenario under new federal interchange controls that will take effect next year, according to a Digital Transactions News analysis. Smaller reductions are more likely as the Federal Reserve Board …

As President Obama signs the Dodd-Frank Wall Street Reform Act of 2010 into law on Wednesday, at least one major merchant interest group has already fired the opening shot in what promises to be an all-out battle over the fees banks earn on debit card transactions. At the center of …

The so-called Durbin Amendment that soon will be law could cut Bank of America Corp.’s debit card revenues by up to nearly 80%, the nation’s largest debit card issuer estimates. Two major prepaid card processors that are planning IPOs and rely on growing interchange income, however, seem likely to escape …