Search for: "Kristian Soltes" Results 1 - 13 of 13
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18 Jun 2020, 7:26 am by Kristian Soltes
Legal and Regulatory Developments SPOTLIGHT: With a Loss Before Britain’s High Court, Visa and Mastercard Face an Interchange ReckoningDigital Transactions News – June 17, 2020 Merchants in the United Kingdom won an important battle against interchange fees on Wednesday but it remains uncertain just how much that will mean to them in terms of remuneration from Visa Inc. and Mastercard Inc. [read post]
12 Jun 2020, 7:44 am by Kristian Soltes
Legal and Regulatory Developments SPOTLIGHT: ‘Fraud’ Lawsuit Slams Plaid on Eve of Historic $5.3-Billion PaydayRIABiz – June 9, 2020 As Plaid nears the date when it banks a $5.3 billion dollar check from Visa, it may face a final hurdle from a class action alleging its value proposition depends on a “massive invasion” of the privacy of over 200 million bank and brokerage accounts. [read post]
21 May 2020, 8:47 am by Kristian Soltes
Legal and Regulatory Developments SPOTLIGHT: Retailers and Wholesalers Call for Urgent Amendment of Card Fees RegulationFinextra – May 18, 2020 EuroCommerce Director-General Christian Verschueren today pressed the European Commission to act on the growing problems facing retailers and wholesalers resulting from the limited scope of the Interchange Fee Regulation (IFR). [read post]
6 Aug 2020, 7:14 am by Kristian Soltes
Legal and Regulatory Developments SPOTLIGHT: Exclusive: China’s Central Bank Urges Antitrust Probe Into Alipay, WeChat PayReuters – August 6, 2020 China’s top antitrust agency is looking at whether to launch a probe into Alipay and WeChat Pay, prompted by the central bank which argues the digital payment giants have used their dominant positions to quash competition, sources with knowledge of the matter said. [read post]
2 Jul 2020, 8:40 am by Kristian Soltes
Legal and Regulatory Developments SPOTLIGHT: EU Says Credit-Card Fee Curbs Helped Reduce Prices for ConsumersBloomberg – June 29, 2020 European Union curbs on credit and debit-card fees helped reduce prices for consumers and aided payments across the 27-nation bloc, regulators said in a report published Monday. [read post]
16 Jul 2020, 9:23 am by Kristian Soltes
Legal and Regulatory Developments SPOTLIGHT: UK Tightens Rules on Payments Firms in Wake of Wirecard DebaclePYMNTS – July 9, 2020 The United Kingdom’s financial regulator has toughened rules on payment companies less than two weeks after Wirecard AG’s collapse locked millions of customers out of their accounts, the Financial Times reported. [read post]
9 Jul 2020, 7:24 am by Kristian Soltes
Legal and Regulatory Developments SPOTLIGHT: Bipartisan Senate Bill Would Punish Retailers for Refusing Cash PaymentsCNBC – July 2, 2020 Sens. [read post]
30 Jul 2020, 7:14 am by Kristian Soltes
Legal and Regulatory Developments SPOTLIGHT: Durbin Asks Fed Chairman for ‘Appropriate Enforcement Action’ Involving Debit Card Transaction RoutingDigital Transactions News – July 28, 2020 (click here for Sen. [read post]
4 Jun 2020, 7:30 am by Kristian Soltes
Legal and Regulatory Developments SPOTLIGHT: How PayPal’s Case Against the CFPB Could Spawn ‘Uncomfortable’ Results for Payments Players Digital Transactions News – June 2, 2020 It was easy to lose track of it in the midst of all the impacts of the novel coronavirus, but a crucial federal lawsuit filed six months ago still hangs over the payments industry, carrying far-reaching implications for nearly all players. [read post]
23 Jul 2020, 7:22 am by Kristian Soltes
Legal and Regulatory Developments SPOTLIGHT: Open Banking for the Unbanked: How the Pandemic Is Affecting Innovation in LatAmPYMNTS – July 22, 2020 With nearly 50 percent of the Latin American population unbanked, there’s a growing appetite for mobile banking services. [read post]
13 Aug 2020, 6:59 am by Kristian Soltes
Legal and Regulatory Developments SPOTLIGHT: With a Compliance Deadline Looming, Technology Emerges to Ease Gas Pump EMVDigital Transactions News – August 7, 2020 Sound Payments Inc., a multichannel technology provider that offers point-of-sale solutions for the petroleum industry, expects its partnership with National Retail Solutions, a subsidiary of IDT Corp., to accelerate adoption of EMV at in-pump card readers among independent gas stations and convenience stores. [read post]
27 Aug 2020, 8:07 am by Kristian Soltes
Legal and Regulatory Developments SPOTLIGHT: TD Bank to Pay $122 Million to Settle Overdraft Claims Brought by Consumer Financial Protection BureauUSA Today – August 21, 2020 TD Bank has agreed to pay $122 million in a settlement with Consumer Financial Protection Bureau over charges that it issued illegal overdraft fees. [read post]