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Europe's New ID Rules Are Complex, But Will Boost Digital Commerce
Despite the confusion surrounding new electronic identity regulations in Europe, there's still plenty to be excited about.  more »
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With the CFPB flexing its regulatory muscles, it's no surprise that collectors are making compliance a priority. more »
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Too Long; Didn't Read: Visa and MasterCard's rules for EMV acceptance weigh in at over 1,000 pages altogether, and their implementation can vary from merchant to merchant.
Visa's rules for card acceptance exceed 800 pages — plus supplements — and MasterCard's are nearly 300 pages. But even though the card networks have explained their expectations in painstaking detail, the difference between strict rules and mere guidelines is much blurrier when finally given to the merchant. more »
Bloomberg News
Sen. Dick Durbin (D.-Ill.)
More than seven months after the EMV liability shift, the majority of U.S. retail locations still haven’t upgraded their payment terminals to accept chip cards, with some small and midsize businesses citing the difficulty of getting their equipment tested and certified by appropriate organizations. more »
Bloomberg News
In the latest salvo in a long-running feud over the costs of processing payments, Wal-Mart Stores Inc. sued Visa Inc.’s U.S. unit on Tuesday, saying the company wants the retailer to use a less-secure method for verifying debit cards in order to route transactions through its own networks to boost profits. more »
Bloomberg News
Wal-Mart Stores Inc. sued Visa Inc.’s U.S. unit, saying the company wants the retailer to use a less-secure method for verifying debit cards in order to route transactions through its own networks. more »
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Dwolla has forwarded its proposal for faster payments to a Federal Reserve Board task force studying submissions as part of a national initiative, and its voice is one of several seeking to make a difference in the country's move to faster payments. more »
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Every year, millions of students borrow federal loans to cover college expenses. For many, this money is crucial for more than just tuition. It helps these students stay in school by paying for food, rent, transportation and other living costs. But lately, this money has also become the lifeblood for predatory card vendors that gobble up funds with unnecessary, exploitative and hidden fees. more »
Bloomberg News
American Express Co. shareholders rejected a proposal that would have pressed the credit-card issuer to name an independent board chairman by a narrower margin than a year earlier. more »
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The state of Delaware is looking to avoid prescriptive regulations when it comes to supervising blockhain companies, but instead be mindful of how the industry actually works, Gov. Jack Markell said Monday. more »
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Many organizations handling payment card data do not have the technology in place to simplify the complex process of compiling quarterly testing results now required by the Payment Card Industry data security standards. more »
Bloomberg News
PayPal Holdings Inc. said federal regulators are investigating the company's Venmo free peer-to-peer payment service in connection with potential unfair trade practices. more »
"There is still time on the clock so we are going to play and play hard until the rule is final and try and find a workable compromise," said Chuck Harris, president of prepaid card manager NetSpend.
The prepaid card industry is ramping up its advocacy efforts on Capitol Hill as the Consumer Financial Protection Bureau readies a final rule targeting such products. more »