Senators have demanded answers from three of the U.S.’ biggest household names after thousands of people were left unable to access funds held on MasterCard prepaid cards.
State bankers associations have joined a growing effort to undermine U.S. interchange fee regulation as they pledge to support a lawmaker seeking to repeal legislation capping fees for merchants.
Japan’s outmoded legal framework is stifling financial innovation while leaving consumers ill-protected as technology companies expand into unregulated areas, according to the country’s Financial...
Senator Dick Durbin has promised to defend rules capping U.S. interchange fees as a rival lawmaker introduces a bill to repeal the controversial legislation on card payments.
The Durbin amendment faces repeal in the United States; Home Depot brings antitrust suit against Visa and MasterCard; Pakistan sets the deadline for EMV switchover; Malaysia pushes change to chip...
A charge MasterCard levies on card issuers when purchases are processed by a competing network raise “troubling questions” and are a “burden”, a senior U.S. senator has argued.
Europe's divided payments industry must comply with a slew of business rules around interchange fees from today despite continuing controversy over the effect of recent legal reforms.
U.S. merchants “frustrated” at a lack of choice around networks for handling debit transactions have asked regulators to investigate whether card issuers are breaking the rules.
UK officials have been accused of leaving the banks to deal with payments fraud while authorities focus on other aspects of financial crime, according to a leading building society.
EU payments laws will hit card schemes hardest, new research has predicted, by allowing a host of third-party providers to challenge their market dominance while substantially reducing their...
Europe’s lawmakers appear to be siding with upstarts as revisions under the Payment Services Directive 2 and Multi-Interchange Fee Regulation threaten to revolutionise the payments market.
American card networks and issuing banks have been accused of bungling the switch to the EMV card standard last October, putting consumers and merchants at greater risk of fraud.
Christopher Achatz, an associate at Bryan Cave law firm, takes a look at Delaware’s new privacy policy requirements which require operators, including those that provide mobile apps, to post online...
“It’s an expensive time to be in the prepaid card space,” one New York lawyer notes as yet more guidance is handed down by U.S. regulators.
The Federal Deposit Insurance Corporation, the Federal Reserve Board of Governors, the Financial Crimes Enforcement Network, the National Credit Union Administration and the Office of the...
Proposals from India’s top financial regulator to skim card revenue and fund a payments industry “poised for significant growth” are well-meaning, experts have said, but likely to face resistance.