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CFPB Ruling Says Long Live The Trial Bar

PYMNTS

The Consumer Financial Protection Bureau (CFPB) has handed down a controversial ruling stating companies cannot opt to use arbitration clauses in their contracts with consumers in a manner that keeps consumers from joining class action lawsuits. The rule begins applying to agreements and contracts 180 days later. .

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Sizzle Or Fizzle: Restaurants Rule, FireEye Flounders And Lending Club Is Back On The List

PYMNTS

FinCEN X-Border Prepaid Rules. In a rather unusual move, FinCEN withdrew its rule intended to make it harder for bad guys (AKA drug cartels) to use gift and prepaid cards to move their illicit piles of now-digital cash across borders. OnDeck’s stock price closed down nearly 2 percent on Monday.

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Everything You Need to Know About Credit Card Processing

Stax

Here are the inside details about what defines a payment solutions provider, how processing works, the credit card processing fees , risks, and more. TL;DR There are several parties involved in credit card processing. They include: the merchant, cardholder, card associations, acquiring bank, issuing bank, and payment processor.

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How Payment Facilitation Works: An Overview for SaaS Providers

Exact Payments

Issuing banks Issuing banks, or issuers, are entities that issue customer credit cards and handle the transfer of funds to the merchant’s account. Credit card networks Also known as credit card associations, credit card networks manage the technological infrastructure and regulations of credit card processing.

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Understanding Payment Processing Terminology Glossary for Merchants

PayHawk

BIN Sponsorship A service provided by payment processors that enables merchants to accept payment cards from multiple card issuers. Bluetooth Card Reader A wireless device that connects to a mobile device or computer to process payment card transactions.

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