Home Posts tagged "Visa" (Page 3)
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Mobile Wallet Providers, Carriers, Issuers and Card Associations Form Mobile Payments Committee

The four major wireless carriers in the U.S. along with financial institutions, card associations and mobile wallet providers have formed and joined the Mobile Payments Committee with the Electronic Transactions Association (ETA). The purpose of the committee is to define best practices for mobile payment solutions while educating legislators, merchants and consumers to foster and

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Visa, MasterCard Propose $7.25B Interchange Settlement but Major Retailers, Trade Groups Oppose

After years of litigation over interchange Visa and MasterCard proposed a settlement that would give over $7 billion back to U.S. retailers while also allowing merchants to add surcharges and fees for customers using credit or debit cards. While the proposed settlement is awaiting federal court approval, big name retailers and merchant trade groups have

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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

 
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Department of Justice Investigating Visa’s Post-Durbin Amendment Fees

Published on May 7, 2012, by in Industry News.

While recently announcing their quarterly profits Visa also disclosed that the U.S. Department of Justice has requested more information about changes in their interchange pricing structure related to processing debit cards. Read More

 
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Global Payments Suffers Data Breach, Visa Revokes their PCI Compliance

Published on April 2, 2012, by in Data Breach.

Global Payments, a publicly traded payment processing company, recently announced that they had identified unauthorized access into their processing systems resulting in the compromise of as many as 1.5 million credit cards. In response Visa revoked Global Payments’ status as being PCI compliant, although the company is still processing Visa and other card transactions. Read

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Visa Predicts Half of their Payments in Europe Will be Made via Mobile by 2020

Visa is confident in the future of mobile payments as they are planning to showcase mobile contactless payments at the 2012 Olympic Games in London and they are predicting that half of all Visa Europe payments will be made via a mobile device by 2020. Read More

 
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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

 
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