Illinois heads toward landmark card interchange fee restrictions
Payments Dive
JUNE 7, 2024
The state may become the first in the nation to outlaw the imposition of credit and debit card interchange fees on state excise tax and tips.
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PYMNTS
NOVEMBER 10, 2020
Global branded payments provider Blackhawk Network has acquired National Gift Card , one of the biggest North American prepaid tech and card companies, according to a press release emailed to PYMNTS. The cards are called "Giving Good" cards and work at various restaurants and retail locations.
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PYMNTS
JANUARY 31, 2021
City National Bank has enlisted New York City FinTech Extend to enable the bank’s clients to offer virtual corporate cards to employees, vendors and other business partners, the companies announced in a press release. Replacing them is much easier than replacing plastic cards. to launch this competitive solution.”.
Payments Dive
JUNE 17, 2022
"The Visa-Mastercard duopoly controls about 80% of the market share, allowing them to raise fees indiscriminately and with no formidable opposition," contends Doug Kantor, general counsel for the National Association of Convenience Stores.
PYMNTS
SEPTEMBER 25, 2020
Gift card giant Blackhawk Network this week announced it is selling charity-branded gift cards that will trigger contributions to those charities when loaded. Recipients of what are being called “Giving Good” cards will be able to use them at any of a number of retail and dining locations.
Payments Dive
NOVEMBER 8, 2023
The bank, between 2015 and 2021, denied certain credit card products to applicants with surnames ending in “ian” and “yan,” suffixes that Citi employees associated with Armenian national origin, the CFPB said.
Payments Dive
JULY 10, 2023
The purchase gives Merchant Lynx Services a payment acceptance presence in the highway construction and large equipment sector, a Merchant Lynx executive said.
PYMNTS
JANUARY 20, 2021
Other than small things like a pen or providing staff with free coffee, anything given to employees that has a clear cash value attached to it is considered taxable by the IRS, said Nat Salvione , chief commercial officer of Tango Card. He cited the National Retail Federation , which found gift cards have been a top gift for over a decade. “If
PYMNTS
JULY 22, 2020
has introduced a sustainable credit card to consumers in more than a dozen countries made from recyclable, bio-sourced, chlorine-free, degradable and ocean plastics. The New York-based, multinational financial services (FI) company said six billion cards are produced annually from PVC. Santander plans to issue its cards shortly.
PYMNTS
NOVEMBER 23, 2020
You're not dealing with two-day settlement,” he stated, adding that interoperability also has the ability to foster sticky relationships between merchants and consumers, especially consumers who want perks and high reward cards or coupons. But a national charter would allow for a uniformity of presence and market scope.
PYMNTS
OCTOBER 6, 2020
New payment rails are again in the spotlight, with commercial card and contactless payments emerging as the top focuses for innovators. To provide commercial card issuers, cardholders and vendors with further automation and flexibility, Boost Payment Solutions is teaming with Visa. merchants accept touch-free payments.
Abrigo
SEPTEMBER 23, 2024
Critical practices for individuals and organizations to protect their data The National Public Data breach serves as a reminder to all of us that proactive measures are necessary to safeguard our personal information. DOWNLOAD Takeaway 1 The National Public Data breach exposed over 2.7
Abrigo
MARCH 18, 2025
checks, debit/credit cards, wire transfers, digital wallets) Clearing and settlement mechanisms for processing transactions accurately and securely Payment systems are critical to the nations financial infrastructure and are vital to the financial stability of the U.S. Payment card networks in the U.S. accounts reached 387.7
PYMNTS
JANUARY 7, 2021
According to Experian’s 2020 Consumer Credit Review , the national average FICO score increased by 7 points last year, to a record 710, a rating that is considered “good” within a 5-tiered scoring system that ranges from 300 to 850, ranking scores from “very poor” to “excellent.”. Still Heavily Indebted. Scoring The Scorekeepers.
PYMNTS
DECEMBER 17, 2020
Citi has rolled out its new Citi Fleet Card in Europe and the United Kingdom, with a new solution that brings together a contactless-enabled card with a mobile program. In that case, every fuel card could be used at only one brand. Kao EMEA's U.K. 17) announcement.
Chris Skinner
JULY 5, 2017
If nothing else, I love Turkey for their cheesy adverts: In this latest update BKM, the ACH for most of the retail banks, provides the story of Troy, the first and only national payments scheme of Turkey. Fifteen years ago, only 9 per cent of total household consumption was through cards. million POS machines in the market.
PYMNTS
APRIL 23, 2019
However, according to Ondot Systems CEO Bharghavan Vaduvur (BV) in a recent conversation with PYMNTS’ Karen Webster, win or lose, Apple will change the conversation about how we pay by spurring existing stakeholders — especially card issuers — to examine how they come to market. The digital card will be linked to Apple Pay.
Banking Exchange
AUGUST 23, 2021
Study finds that midsize credit card issuers report greater drop in customer satisfaction levels compared to national counterparts Retail Banking Financial Trends Feature Feature3 Financial Research Cards Payments.
PYMNTS
MAY 12, 2020
There was a time when consumers did not require much more from their local bank than a checking account, savings account and an ATM card. Consumers are paying with credit and debit cards more than ever before, and they are increasingly looking to their smartphones to gain greater control over how they spend and manage their money.
CFPB Monitor
MAY 24, 2021
We are pleased to announce that Ballard Spahr’s Consumer Financial Services Group has once again received the highest national ranking from Chambers USA: America’s Leading Lawyers for Business. We are proud to report that the Group also received the highest national ranking in this new third category.
PYMNTS
SEPTEMBER 23, 2020
In today’s top payments news around the world, PayPal and Mastercard are adding more European Union (EU) countries to a debit card offering, while European Central Bank (ECB) President Christine Lagarde has called for a digital euro. PayPal, Mastercard Add 5 EU Countries To Debit Card Offering. Germany and the United Kingdom.
PYMNTS
JUNE 4, 2019
Amid collaborative efforts between traditional payment players and some smaller tech-nimble upstarts, the card giants are boosting their efforts to help FinTech firms bring new products to market. has three new features, including Global Reach, billed as a new card-issuing “territory expansion service.”.
PYMNTS
NOVEMBER 20, 2020
Such factors could drive companies worldwide to seek the utility and flexibility of delivering payroll via prepaid cards, and this month’s Deep Dive examines companies’ growing interest in these tools. . It found that just 2 percent of respondents offered payroll cards in 2014, but that this figure had risen to 28.5
PYMNTS
DECEMBER 14, 2020
Visa will be working with Access Bank on a new debit card for small- to medium-sized businesses (SMBs) in Nigeria, according to a Vanguard Media Limited report. Access Bank will offer Google Ad credits for free for the first SMB entrepreneurs to sign up for a card.
Chris Skinner
APRIL 11, 2018
Instead, the nations seem to be 100% cash-focused, as my credit cards … The post Mobile payments are on fire everywhere and, whilst some are just catching fire, others are burning appeared first on Chris Skinner's blog.
PYMNTS
APRIL 2, 2020
The commercial credit card is increasingly viewed as a critical tool for these small and medium-sized businesses (SMBs) in need of fast access to credit, but many financial institutions are going further to nix fees on their card programs, including card products for small firms. Comdata Fuel Cards Facilitate Factoring.
Abrigo
APRIL 2, 2025
Financial crime professionals have developed many best practices for detecting and preventing payment fraud committed using traditional payment methods such as Automated Clearing House (ACH) transactions, checks, wire transfers, and card networks. However, with faster payments comes greater fraud risk. consumers lost over $12.5
PYMNTS
JULY 1, 2020
PEPSI promises to rival not only the two credit card giants, but also other financial technology companies including Google , Apple , Alipay and WeChat Pay. . In 2011, PYMNTS reported on the Monnet Project , where two dozen European banks from seven countries considered starting a new European card system.
PYMNTS
AUGUST 7, 2020
India has seen a steady stream of digital payments since it locked down to prevent the spread of COVID-19 , but the nation of 1.3 To remedy the problem, the Reserve Bank of India supports an option for offline payments through cards, wallets and mobile devices. In July, the National Payments Corp.
PYMNTS
DECEMBER 21, 2020
Kroger customers can now expediently and simply order gift cards for curbside pickup in addition to their supermarket items at 1,900 of the chain’s locations throughout the nation, according to a Monday (Dec. 21) announcement from Blackhawk Network.
Bank Innovation
FEBRUARY 19, 2020
The company, which launched its products nationally Wednesday, is coming into the market as fintech startups like Wealthfront, Betterment and Varo are touting high-yield savings accounts to vie for market share. Level is also offering 1% debit card rewards and paycheck deposits two days early to sweeten the deal for customers.
Bank Innovation
DECEMBER 13, 2017
The round was led by venture capital firm Dawn and The Fourth Swedish National Pension Fund. Established in 2011, iZettle enables small business merchants across Europe and Latin America to accept card payments. Swedish payment company iZettle today announced it raised €40 million ($47.05 million) in funding to accelerate growth.
Perficient
NOVEMBER 8, 2021
I eventually got headhunted to work for City National Bank in Los Angeles. MM: So, you started at City National Bank, and was the bank online before you got there? MM: You played a variety of roles at City National Bank. I have a lot of experience with core systems, credit cards, and rewards programs. BB: 19 years.
PYMNTS
NOVEMBER 30, 2020
Today in B2B payments, Visa teams up with Razorpay to debut a small business commercial card solution, while Nets is working with Yoba Smart Money to develop small business payment tools. Razorpay, Visa Team for SMB Corporate Cards. Emirates NBD Debuts Omnichannel Corporate Banking Program.
PYMNTS
FEBRUARY 1, 2021
From commercial card misuse to invoice fraud, internal employees can be the bad actors, too. Reports said the person served as a bookkeeper at the trucking company and misused company credit cards to pay for hundreds of thousands of luxury goods over two years.
PYMNTS
APRIL 30, 2020
As nations put limitations into place to support social distancing in February and March, Mastercard reported that a significant share of consumers tapped into contactless payments for purchases. Contactless offers consumers a safer, cleaner way to pay, speed at checkout, and more control over physical proximity at this critical time.”.
PYMNTS
FEBRUARY 15, 2019
The costs of using some cards is going on the incline, as news is breaking that the nation’s two largest card networks, Visa and Mastercard, are preparing to up the fees charged to merchants to accept network-branded cards.
Payments Dive
JULY 19, 2023
Opponents of the Credit Card Competition Act proposal are gearing up to fight the bill as an attachment to the National Defense Authorization Act.
Chris Skinner
JULY 13, 2017
I knew exactly what he was getting at, as the banks I deal with in USA, UK, France, Germany and other European nations are always fretting over the challenge with their old systems. The main reason is that China was not a card-based economy. He asked me: “why is it that the Western banks are always talking about legacy?”
South State Correspondent
SEPTEMBER 12, 2019
Payments are such a central part to banking and are now undergoing such a radical change that all banks have an opportunity to reclaim transaction market share back from the card networks, card processors and even national banks. Below, we highlight our ten considerations when developing a payments strategy.
PYMNTS
JULY 2, 2020
Financial institutions (FIs) are therefore expected to offer more contactless cards this year and some are also unveiling services intended to help consumers easily add cards to their digital wallets. consumers to shift as much as $100 billion in annual spending from credit to debit cards. Around the Next-Gen Debit World.
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