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Dissecting Discover's Suit Against Visa
Discover's lawsuit this week against Visa stems from years of practices that have their root in the Durbin amendment's debit-routing mandates, and Visa will likely have several ways to counter its rival's allegations.
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Seeing an opportunity to advance international and online debit transactions and take advantage of a growing mobile payment market, MasterCard is working to establish a debit card presence next year in Canada. more »
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Modern technology has turned the payments industry into a juggling act, particularly for those charged with deploying new techniques to protect payment card data. more »
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Elan Financial Services will use MasterCard's common debit application identifier technology when processing transactions through its MoneyPass ATM network. more »
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The card networks are under pressure in a number of countries, providing ammunition for retailers wanting similar cost adjustments in the U.S. more »
TSYS CEO M. Troy Woods
Total System Services is close to beginning tests of new products and merchant services, and is already seeing a benefit from last week's launch of Apple Pay. But in prepaid, a significant business for the processor, TSYS is still awaiting new rules from the government. more »
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A number of large retailers are pushing back against Apple Pay, making clear the power merchants wield in the developing mobile payments market. more »
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Bank of America was quick to address an early issue with double-charging Apple Pay users, but the damage to consumers' perception of mobile payment technology may prove to be longer-lasting if more glitches occur. more »
Ashe Pay CEO Teddy Shim
Transactions have long been free for consumers, but Ashe Pay is betting that consumers are willing to pay a $1 monthly fee to be part of a network that allows instant payments to vetted merchants. more »
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The White House is slated to unveil a major package of initiatives on Friday to increase data security for financial transactions, including an executive order to add chip-and-PIN technology to government-issued credit and debit cards. more »
Nacha president and CEO Janet Estep
Opinion
The financial industry is making payments better, more efficient, simpler—and faster. more »
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As Federal Reserve Bank leaders continue to study the business case and complexities of establishing a faster U.S. payments system, FIS contends its past experience in other countries makes its technology the right fit for the initiative. more »
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Banking and payment technology provider a FIS has completed its acquisition of payment processor Clear2Pay, a transaction it started early last month. more »
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First Data made four executive appointments as part of its diversification beyond payments processing to include a broader set of merchant services. Its updated lineup, announced Oct. 1, creates new roles for Barry McCarthy, Andrew Gelb, Sanjiv Das and Adam Rosman. more »

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