A fight between U.K. retailers and credit-card companies that has lasted five years and spawned wildly different court rulings reached a London appeals court Monday that could determine the fates of lawsuits potentially worth billions.
By any measure, if Visa can trim more than two weeks off a chargeback dispute, it should help merchants and cardholders. But like many efforts to improve the payments market, it won't be an easy change.
The card networks recently admitted what consumers have long suspected—card signatures have become worthless for authentication at the point of sale. But that's not the end of this story.
MoviePass has purchased Moviefone, the movie listing and information service, in a deal that gives momentum to a business that owes its success to honor-all-cards rules.
In yet another twist on the idea of a cryptocurrency debit card, MoxyOne has developed its own network as a way to address the setbacks some have faced in relying on Visa and Mastercard.
There are still millions of merchants in the U.S. clinging to relic point of sale methods — and they are not easily swayed by fancy new touchscreens and mobile wallets. This means companies such as Verifone must go to greater lengths, just to meet them halfway.
The breach at Expedia's Orbitz not only jeopardized nearly 880,000 payment cards — it cast a spotlight on the weaknesses all companies expose themselves to when they partner with another brand.
As gas stations add EMV-chip card acceptance at the pump, they will also find themselves rebuilding systems for loyalty programs and special offers that were reliant on their older hardware.
Citing a need for merchants to better understand payments behavior across various digital channels, Visa has launched Token Management Service for its global clients.
There are still regions where contactless and EMV cards are slow to roll out, and Mastercard is working to bring these markets up to speed so that they are ready for future innovations.
