All articles by Verdict Staff
Verdict Staff
EC targets Visa Europe on interchange
Visa Europe has been warned by the European Commission that its multilateral interchange fees (MIFs) may violate EUs antitrust rules.
Visa denies iZettle in Nordics
Visa Europe has said that mobile POS service iZettle does not meet its standards for acceptance devices, preventing the company from processing Visa transactions in Denmark Finland and Norway.
Cielo profits rise by 30% in one year
Brazilian biggest merchant acquirer and payment processor Cielo posted a 30% growth in profit up to BRL549m ($270 million), beating analysts expectations A 23% increase in credit and debit card transactions drove a 28% increase in net revenue to BRL1.26 billion, compared with a year ago Affiliated active merchants totaled 1.3m at the end of 2Q 2012, up 13.3% year on year
BofA adds EMV to consumer credit card portfolio
Bank of America has announced the roll-out of EMV technology across key parts of its credit card portfolio. The bank will include the chip technology in all newly issued Merrill Lynch credit cards, US Trust Accolades, BankAmericard Travel Rewards, BankAmericard Privileges, and Virgin Atlantic travel credit cards.
EU to file complaint against Visa interchange fees
The European Unions antitrust commission is to file a formal compliant against Visa over its interchange fees in the Euro area. The decision by EU antitrust chief Joaquin Alumnia follows a previous probe into MasterCard, resulted in a regulators fine over its own interchange fees Both companies had come under the EU commissioners fire in May this year and urged to align interchange fees in the EU with competition rules
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An unsettling settlement
Following the USD7.25 billion settlement of the seven-year-old antitrust lawsuit over credit card interchange rates, Visa, MasterCard and the issuing banks involved in the case can take solace in the fact that the settlement leaves the industry largely intact, writes Charles Davis.
CitizenCard launches prepaid and ID card for UK
Not-for-profit CitizenCard says the card is designed for 12 years old and above and aims to act as a proof of age mechanism for access age-restricted goods and services both online and at the physical point of sale The prepaid market a while ago was not flexible enough to implement our idea, and it took us a long time to find the right programme manager and the right printer who could understand all requirements
MasterCard: We will fight back into UK debit market
Marion King: Olympics is an example of what goes wrong when you do not have competition in the market
DataCash taps Chinese e-commerce market
MasterCard-ownedonline payments gateway DataCash has added Chinese third-party payment platform Alipay to its international payment solution The partnership will enable DataCash merchants to accept payments through Alipay users, tapping into Chinas e-commerce market, estimated to be worth over USD120 billion Alipay, a subsidiary of the AlibabaGroup, was given permission from Chinese authorities to process online investment fund payments in May this year
Vigitrust: Acquirers need to be more active in PCI compliance
Specialist IT security consultancy VigiTrust has said that some merchant acquirers are getting too used to income from PCI DSS non-compliance fines, and are not doing enough to improve compliance levels. The consultancys Managing Director, Mathieu Gorge, said that acquirers profiting from fines levied against non-compliant businesses are not doing enough to fill the knowledge gap that exists among merchants particularly small retailers. However, when it comes to focusing the mind of the merchant, he concedes that fines are undeniably effective