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Cost of U.S. Chip-and-PIN Would Far Outweigh the Benefit: Report
Retailers insist that the EMV migration in the U.S. is weak because there is no PIN requirement to verify chip-card transactions, a process that is standard practice in other nations.  more »
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Bloomberg News
MoneyGram International Inc., the world’s second-largest money transfer provider, fell the most in five months after posting profit that missed analysts’ estimates and lowering its revenue forecast for the year. more »
Bloomberg News
"We have worked with PayPal for many years and the relationship is good," Mastercard CEO Ajay Banga said.
There may be bumps along the way, but PayPal, Mastercard and Visa all share the same goal, according to Mastercard CEO Ajay Banga. more »
Bloomberg News
The Beltway debate between the retail and financial sectors over the electronic payment system has flared up again. While retailers are lobbying Congress to extend government price controls to credit card interchange rates, separate bills would repeal Durbin Amendment ceilings on debit card interchange and strengthen merchant security standards. more »
Bloomberg News
Companies that rely on the U.K. as an easy portal to Europe or a bridge between Europe and North America stand to face serious challenges and are suddenly thrust into a big set of unknowns. more »
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E-commerce carries the promise of transactions without borders or brick and mortar, but it's still a challenge to enter a new market, according to WePay CEO Bill Clerico. more »
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Bitcoin is property, not money, a Florida judge ruled Monday in a criminal case against a man accused of money laundering and unlicensed money transmission. more »
Bloomberg News
"This agreement removes many concerns that issuers and others in the ecosystem have had about working with PayPal," said Dan Schulman, president and CEO of PayPal
To hear PayPal CEO Dan Schulman tell it, his company's agreement with Visa this week is a transformative and history-making deal. But in at least one way, PayPal must make sure that history does not repeat itself. more »
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Walmart Stores Inc. can no longer count Marlene Gosparini and her employer as regular customers in Thunder Bay after the world’s largest retailer stopped accepting Visa Inc. credit cards at its three stores in the Canadian city. more »
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Merchants are facing consumer lawsuits stemming from the introduction of EMV-chip card security at the point of sale in the U.S., exposing the issues many stores must contend with now that they are held liable for fraud and chargebacks. more »
As we approach the midpoint of 2016, two of the most pressing matters in the payments industry have become more acute—the push for greater transparency and accountability in merchant acquiring and processing. more »
A federal appeals court decision to toss out the settlement between merchants and major card networks has re-opened old industry wounds – and spells possible trouble ahead for banks. more »
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The U.S. Supreme Court agreed Tuesday to hear eight new cases, including business clashes over ATM fees and housing discrimination, as it bolstered its agenda for the nine-month term that starts in October. I more »