Stop me if you’ve heard this one: A Martian travels to Earth and examines the U.S. payments system. He is perplexed by the dogged persistence in using a 40-year-old technology for payments cards by a nation that, in the same period, landed men on its...
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I. Introduction Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By completing this form, you agree to receive marketing communications from...
Introduction Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By completing this form, you agree to receive marketing communications from PYMNTS...
As payment cards have become an increasingly important electronic retail payment type in many countries, payment card fees, especially interchange fees, have become the source of a good deal of controversy. The interchange fee is used by card networks, such as MasterCard and Visa, to...
Perhaps the most important long-term problem that the U.S. payments industry confronts is the possibility of a permanent shift away from credit card use. The last fifteen years have been characterized by routine use of credit cards as the dominant transaction vehicle, coupled with pervasive...
Bank debit cards may look like credit cards, but they certainly do not act like them when it comes to account overdrafts. This does not suggest that credit cards are better than debit cards, as complaints abound concerning the transparency of fees charged to consumers...
The rapid growth of mobile phone usage and the continuous rise in wireless coverage fuel the expectations that access to financial services through mobile phones could transform the way financial services are provided. The emergence of new and more efficient business models can potentially resolve...
June 30, 2007 was a big day for data security. That was the deadline for organizations that store, process, or transmit credit card payments to be in compliance with the Payment Card Industry Data Security Standard (PCI DSS). As the deadline approached, the media reported...