All articles by Verdict Staff
Verdict Staff
Restaurant Association rejects Visa and MasterCard’s swipe fee settlement
The US National Restaurant Association has announced it will reject the USD7.25bn settlement agreement proposed by Visa, MasterCard and a number of US banks over swipe fees.
Discover to refund cardholders USD200 m
Discover Financial Services subsidiary Discovery Bank has agreed to refund credit cardholders USD200 m to settle a public engagement action undertaken by two US consumers protection authorities over the selling of credit cards related products
Taming the dragon
Prepaid cards have been, until recently, a very dangerous business in China. The lack of regulation has enabled corrupt practices by both issuers and card holders. But, writes Sara Perria, that is all starting to change.
Canadian cards code of conduct to be extended to mobile payments
The Canadian finance ministry is proposing to include a section on mobile payments in its Code of Conduct for the Credit and Debit Card Industry, to assure transparency, fairness and competition.
Groupon rolls out m-payments service
Groupon has entered into the m-payments market launching a service that allows businesses in the US to accept credit cards using an iPhone or an iPod touch The system is built into the latest version of the Groupon Merchants app for the iPhone and iPod Touch and is aimed to restaurants, salons and spas, retail establishments and other businesses.
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Credit cards usage on the rise in the UK
The average total UK sale per credit card has increased, reaching the second best result of the past two years in the second quarter of 2012, up to GBP532.9 in June Quarterly UK cards data by analytics technology provider FICO highlighted that the result is second to the December 2011 Christmas peak, and higher than December 2010 average
Retail-issued prepaid market
Already in the US a large number of retailers have invested significantly in marketing to leverage their brand in support of their prepaid value propositions.
Portugal electronic payment network crashes
In Portugal, the entire electronic payment system crashed this morning, just the day after MasterCard held its Prepaid Europe conference in the capital Lisbon.
No Bitcoins in the Bitcoin card
Paycard, the first digital currency (Bitcoin) funded card to be launched by the currency conversion services provider BitInstant, will not have a Bitcoin balance, BitInstant chief executive Charly Shrem has confirmed. The unplanned announcement of the card launch, that Shrem inadvertently made public in a web chat conversation in August this year, attracted media attention for what is not going to be: a Bitcoin wallet.
Google discontinues Wallet’s pre-paid card
Google has taken the axe to its pre-paid card option, following an upgrade of its Google Wallet platform. The internet giant said the prepaid card was no longer necessary, as its e-Wallet app now supports any credit or debit card In a costumers notice, Google informed users they will be unable to activate or add funds to any existing card beginning on 17 September.