Anand Goel was quoted throughout this article published in Digital Transactions June 2013 issue by Elizabeth Whalen on network fees. When MasterCard Inc.'s new digital-wallet fee takes effect this month, it will join a growing list of other fees imposed by the two largest payment card networks. These fees and related charges, which are separate [...]
Visa and MasterCard have reached a settlement with merchant groups alleging antitrust violations in the setting of interchange fees for credit cards. The proposed $7.3 billion settlement provides one-time financial relief to merchants and allows them to apply a surcharge for credit card transactions. This article analyzes merchant impact from this settlement.
If a business starts accepting credit and/or debit cards for payment, inevitably it will get a chargeback, and for any business chargeback becomes a dirty word. It would be nice if addressing chargebacks was straight forward, but that isn’t reality. Each card network — Visa, MasterCard, Discover, and American Express — has its own rules, [...]
What is EMV & why is it important? EMV is an acronym for Europay, MasterCard, and Visa, and represents the 1994 founders of the global standard for credit and debit payments based on chip card technology. Today, Europay is owned by MasterCard and EMV standards are set by EMVCo, a joint venture of Visa, MasterCard, [...]
We prepared the following analysis before the Durbin amendment became effective on October 1, 2011. We will be updating this analysis in the near future but the general guidelines presented are still very valid. Reducing your healthcare organization’s cost of processing credit and debit card payments from patients or businesses can be a herculean task [...]
About four years ago, Discover and American Express started updating their business model by letting acquirers add its cards to the payment options they offer to merchants. Traditionally, acquirers or payment processors could only offer Visa and MasterCard processing, and merchants had separate agreements with Discover and AmEx. Therefore, merchants became accustomed to getting three [...]
In slightly more than a decade convenience fees on credit and debit cards have evolved from application in a specific market to wide adoption across many industries. This article looks at the growth in usage of convenience fees, application within specific verticals, and card network regulations. […]
This article examines the debit interchanges rules proposed by the Federal Reserve last month and how they will likely impact the merchant community.
President Barak Obama signed into law on May 22, 2009, the Credit Card Accountability Responsibility & Disclosure Act. This sweeping legislation has significant implications for consumers, banks, and many businesses who issue gift cards. […]
Pricing in the credit card processing industry is very complex and most merchant statements do not make it any easier to understand. There are so many technical and industry laden terms (Interchange, qualification tiers, downgrades, batch fee, ACH fee, authorization fee, settlement fee, AVS fee, PCI compliance fee, etc.) that even a sophisticated financial manager [...]