interchange fees

Regulated and Unregulated Debit: What You Need to Know

Following the financial crisis of 2008 Congress won the ability to regulate swipe fees, or debit interchange fees, charged to retailers by Visa and Mastercard, as well as charged by the issuing financial institutions. This is all made possible under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, more specifically the Durbin …

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Swipe Fee Suit Ongoing After Fairness Hearing

A $7.25 billion settlement relating to credit card interchange fees continues to encounter stiff opposition from a number of major retailers and several significant retail trade associations. Case History The antitrust case against Visa, MasterCard and several issuing banks stemmed from a dispute relating to the percentage of credit card transaction fees that retailers must …

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MCX, Paydiant, and the Battle Over Mobile Wallets

The mobile Internet revolution is rapidly changing the longstanding status quo in the payment processing industry. As more people purchase items with their mobile devices, the public is demanding more options and greater security from transaction processing companies. For many long years, big banks and processing companies like Visa and Mastercard faced little competition and were free to change processing …

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Interchange Settlement Given Preliminary OK

On Friday, the Judge presiding over the controversial Interchange Settlement case in Brooklyn, N.Y. gave preliminary approval to the settlement of credit card interchange litigation announced July 13. The Official Merchant Services Blog recently explained why the controversial Interchange settlement was being considered for preliminary approval, despite the backlash from merchants and large corporations. We also began talking about …

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