MasterCard

PSR Proposes Cap On Cross-Border Card Fees To Safeguard UK Businesses

PSR Proposes Cap On Cross-Border Card Fees To Safeguard UK Businesses

The UK’s Payment Systems Regulator (PSR) has proposed a groundbreaking measure by provisionally suggesting implementing a price cap on cross-border card fees or interchange fees for credit and debit cards. Primarily targeting major U.S. payment technology giants, Mastercard Inc. and Visa Inc., this move is orchestrated to shield UK businesses from potentially excessive interchange fees. […]

PSR Proposes Cap On Cross-Border Card Fees To Safeguard UK Businesses Read More »

MasterCard Takes Contactless Payments to the Cloud

MasterCard Takes Contactless Payments to the Cloud

The past few months, especially since the pandemic outbreak, saw rapid development in contactless payments. The rising need to accept or adopt cashless or contactless payment modes was mainly in response to preventing the spread of coronavirus. Nowadays, more advanced and smarter technologies are being deployed across several mobile devices, mostly due to factors like

MasterCard Takes Contactless Payments to the Cloud Read More »

MasterCard Cautions Negative Q1 Revenue Impact from Coronavirus

Mastercard Cautions Negative Q1 Revenue Impact from Coronavirus Earnings releases were tinged with a coronavirus theme during companies’ conference calls as decision-makers fear the negative effect of the coronavirus on travel and e-commerce globally. While many companies say it’s too early to assess the coronavirus impact, some companies offer an analysis of sales loss and

MasterCard Cautions Negative Q1 Revenue Impact from Coronavirus Read More »

MasterCard’s Dispute Resolution Initiative

Mastercard is rolling out its new Dispute Resolution Initiative for payment processors and merchants that will bring many changes to how Mastercard chargebacks and transactions are handled. The initiative, which has a goal of improving chargeback outcomes and efficiency, will likely mean a more consistent process for merchants. The Dispute Resolution Initiative is being rolled

MasterCard’s Dispute Resolution Initiative Read More »

MasterCard Making Changes To Subscription Payments

While credit card access makes the world of commerce go round, many customers find themselves saddled with expensive subscription programs they never intended to participate in long-term. To reduce this risk, MasterCard has begun targeting negative options. Negative option billing is providing goods or services for a recurring payment, and will be continuously paid until

MasterCard Making Changes To Subscription Payments Read More »

The End of Required Credit Card Signatures

In April, credit card signatures will become a thing of the past. American Express, Discover, Visa, and Mastercard have all announced they will end the signature requirement for in-store credit card machine purchases. For Discover, Mastercard, and American Express, the end date was April 13. Visa will end the signature requirement later in the month.

The End of Required Credit Card Signatures Read More »

How Banks Are Adapting to the Demands of Millennials

Millennials, who are between 18 and 34, are a major market segment for banks and other financial institutions to attract and retain. There are now more than 83 million millennials in the U.S., representing one-quarter of the country’s population and a larger share than baby boomers. Most millennials have spent their entire lives with technology

How Banks Are Adapting to the Demands of Millennials Read More »

New FDA Regulations Affect Online Vape Credit Card Processing

It seems that the U.S. Food and Drug Administration (FDA) is finally beginning to crack down on the growing vape and e-cig industry, after it announced last year that all e-cigarettes and other vaping products will now be regulated in the same way as cigarettes are under the 2007 Family Smoking Prevention & Tobacco Control

New FDA Regulations Affect Online Vape Credit Card Processing Read More »

MasterCard Using Artificial Intelligence to Attack False Declines

One of the biggest problems for merchants accepting credit cards is not fraudulent transactions, but rather false declines. Certainly, credit card fraud is costly, but it’s estimated that merchants lose $118 billion due to credit card declines where the transaction is genuine and the customer is not over their limit. It’s estimated that 15% of

MasterCard Using Artificial Intelligence to Attack False Declines Read More »

Fraud Costs Cut in Half Since the Introduction of EMV

Great news for the credit card processing industry: Just one year into the shift towards the Europay, MasterCard and Visa (EMV) system in the United States, and counterfeit fraud costs have been slashed by just over 50%. According to a report issued by credit card giant MasterCard in mid-September, counterfeit fraud costs are being sharply

Fraud Costs Cut in Half Since the Introduction of EMV Read More »