U.S. Sen. Roger Marshall, R-Kan., aims to secure a vote on the Credit Card Competition Act (CCCA) by adding it to the Federal Aviation Administration (FAA) Reauthorization bill. Marshall asked the Senate for unanimous consent for a vote to add the CCCA to the Reauthorization bill Wednesday (May...
The National Retail Federation (NRF) on Friday (April 26) asked a federal judge to reject the proposed settlement of a class-action antitrust lawsuit over swipe fees charged to merchants to process Visa and Mastercard credit card transactions. “This ‘settlement’ is a backroom deal struck without...
With consumers struggling under ongoing financial challenges, many may find credit card surcharges to be the proverbial straw that breaks the camel’s back, leading them to be less loyal to favorite merchants. In PYMNTS’ Q1 eBook, “The Implications of Uncertainty,” which draws on advice and observations...
The simple math on the swipe fee agreement reached by Visa and Mastercard announced Tuesday (March 26) indicates that consumers may not feel much impact at all, at the register, or on their wallets. So we’ll call that a negligible result. The broader implications of...
June 07, 2023
If at first you don’t succeed, try, try again. That seems to be the prevailing sentiment Wednesday (June 7) when it was announced that the Credit Card Competition Act legislation is being reintroduced on Capitol Hill. This time around, there will be more sponsors across the aisles, as reports came that U.S. Sens. Dick Durbin (Democrat […]
February 05, 2020
In today’s top payments news, former Bank of France Governor Christian Noyer said a centralized, global eCurrency is still at least a decade away, the U.S. economy could lose $10.3...
May 08, 2024
U.S. Sen. Roger Marshall, R-Kan., aims to secure a vote on the Credit Card Competition Act (CCCA) by adding it to the Federal Aviation Administration (FAA) Reauthorization bill. Marshall asked the Senate for unanimous consent for a vote to add the CCCA to the Reauthorization bill Wednesday (May 8), according to a press release issued by his office. Speaking on […]
March 26, 2024
Mastercard and Visa have reached a class action settlement with U.S. merchants, in a deal that aims to end 20 years of antitrust litigation around swipe fees and restrictions placed...
January 23, 2024
The Federal Reserve Board has extended the comment period on its interchange fee proposal. Originally set to end on Feb. 12, the comment period is now open until May 12,...
December 11, 2023
Visa is reportedly facing an antitrust lawsuit alleging that it has blocked fair competition in the credit and debit card processing market. MiCamp Solutions, a provider of secure payment processing solutions,...
