Home Posts tagged "debit card"
formats

Visa to Increase Interchange Fees for CNP Transactions this April

After leaving interchange rates mostly unchanged for the past decade, Visa sent a letter to partner banks outlining the coming changes to swipe fees that will roll out in two phases beginning in April then October this year. While high volume supermarkets as well as those with education and real estate merchant category codes (MCCs)

(More)…

 
Comments Off on Visa to Increase Interchange Fees for CNP Transactions this April.
formats

Visa Reports Increase in Use and Acceptance of EMV Following Liability Shift

Visa recently released data and figures regarding EMV usage in the first full month of purchases following the October 1st EMV liability shift, adding that they are “extremely encouraged” with the 42 percent increase in chip-on-chip transaction volume and the 49 percent increase in merchant locations that can accept EMV in just one month’s time. The

(More)…

 
formats

Visa Inc. Acquisition of Visa Europe Will Bring 3 Billion Active Cards Under Single Entity

Visa Inc., the U.S. based publicly traded organization, announced on Monday November 2nd that they would be acquiring Visa Europe Ltd., their London-based counterpart, for $23.4 billion in cash and stock. The acquisition will increase the number Visa Inc. payment card accounts by 20 percent and total payment processing volume by approximately one-third. The deal, pending

(More)…

 
formats

Get Ready for Facebook’s Foray into Payments

Facebook announced new features to their Messenger service in March allowing users to make P2P payments, but didn’t stop there. They have since announced plans to enable consumers and merchants to communicate via Facebook about purchases, known as Business on Messenger, and have started testing “Buy” buttons directly within advertisements that appear on a user’s

(More)…

 
formats

Holiday Shoppers More Likely to Use Cash and Avoid Retailers Who Suffered Breaches

The Target data breach was the story of the 2013 holiday season and several other major retailers have failed to prevent the compromise of their customers’ payment and personally identifiable information since. With this in mind, it should not be too surprising that 45 percent of cardholders responded “definitely not” or “probably not” when asked

(More)…

 
formats

FICO Data Shows Fraud Against U.S. Issued Credit Cards Continues to Increase, Led by CNP Fraud

A recent report from FICO found that the incidence rate of credit card fraud on U.S. issued cards increased by 17 percent over a nearly two-year period while card not present fraud grew at the fastest rate. Read More

 
formats

Decrease in Debit Spending Reduces Visa’s Total U.S. Payment Volume

Although spending on Visa credit cards increased in April and May from a year ago, overall volume processed on U.S. Visa cards was down 3 percent in April and remained stagnant in May as spending on Visa debit cards declined by double digits. Read More

 
formats

Consumers Switching Back to Credit Cards

During Visa’s fiscal fourth quarter credit card purchases grew 10 percent reaching $228 billion. Debit cards brought in more volume, $288 billion, but this was only an 8.1 percent increase for the quarter and marks the first time Visa credit card spending increased more than debit card spending since 2005. Read More

 
formats

Only Use Your ATM PIN at the ATM or You’ll Pay the Price

Many credit and debit cards boast zero fraud liability but there are fundamental differences in the legal obligations of issuers to cover fraud losses between credit cards and debit cards. Additionally, zero fraud liability may only apply to signature-based debit transactions for certain card brands – so using your debit card with the PIN at

(More)…

 
© The Fraud Practice LLC 2012