China is reportedly negotiating with Visa, Mastercard and other global card issuers, seeking to reduce the fees they charge local merchants on foreign card transactions. The Payment & Clearing Association of China has proposed that the card issuers reduce their fees from the current range...
Shoppers are reportedly getting increasingly comfortable disputing credit card charges. That’s because consumers have discovered how easy it is to do so, the Wall Street Journal (WSJ) reported Wednesday (June 19). Consumers disputed around 105 million charges with U.S. card issuers last year, the report...
Wells Fargo and Bilt are denying reports that their co-branded credit card relationship is in trouble. The banking giant teamed with the FinTech startup in 2022 on a card that let users pay their rent while earning rewards points. However, The Wall Street Journal (WSJ)...
While 68% of U.S. consumers own general-purpose credit cards, 28% now carry specialized co-branded or store-issued cards, and the appeal of travel-related cards is strong. The PYMNTS Intelligence report “The Role of Strategic Partnerships in Consumer Credit Cards” found that across the board, the popularity...
Consumers are moving toward paying down at least some of what they owe on their credit cards. At least that was the case in April. The Federal Reserve’s latest report on consumer credit, released Friday (June 7) may give a sign that consumers are pulling...
Arguing its fees are too steep, eBay is dropping American Express (Amex). The online marketplace will stop taking Amex as a payment option beginning Aug. 17, the company said in a statement provided to PYMNTS Wednesday (June 5). “At a time when payment processing costs...
About 1 in 4 consumers in the United States own at least one co-branded or store-specific credit card. However, their popularity doesn’t come close to that of general-use credit cards, which are owned by 68% of consumers. These are key data points in the PYMNTS Intelligence study “The...
Higher fees from the payments networks across the pond have not translated into better service, according to a new report. The U.K.’s Payment Systems Regulator (PSR) issued a 158-page report Tuesday (May 21) that charged increases in the fees levied on acquirers and issuers through...
The U.K.’s payments watchdog says card giants Visa and Mastercard need to offer greater transparency. The Payment Systems Regulator (PSR) said Tuesday (May 21) that it is proposing that both companies routinely turn over financial information to the regulator and consult with retailers and merchants ahead of any fee changes. This came after...