Month: July 2017

UK Bans Surcharges for Credit Card Transactions

Yesterday the U.K.’s Treasury Ministry ruled to forbid surcharges on debit and credit purchases. The ban is to go into effect January of 2018.  In recent years merchants have been imposing surcharges to their customers for using credit or debit cards. They, in essence, were passing along the fees that the merchant would incur from …

UK Bans Surcharges for Credit Card Transactions Read More »

Visa Goes to War Against Cash

It looks like Visa wants to kill cash transactions.  The credit card company announced last week that they are spending $500,000 to get restaurants to move completely cashless.  They say they will give $10k to each of 50 “qualifying restaurants, eateries, cafes, and food trucks” as an incentive to make the transition.   The gift …

Visa Goes to War Against Cash Read More »

As conglomerate payment processors grow larger will it hurt merchants?

As Amazon.com’s market share grows, retailers are feeling the pressure. They aren’t the only ones. Vantiv’s acquisition of Worldpay is putting the squeeze on payment processing companies in much the same way. On Wednesday Vantiv agreed to pay 7.7 billion pounds ($9.9 billion USD) for Worldpay Group PLC, both payment processing companies. This move will greatly increase Vantiv’s …

As conglomerate payment processors grow larger will it hurt merchants? Read More »