Enfuce brings 2-in-1 debit and credit card to UK
Finextra
SEPTEMBER 10, 2024
Finnish-founded card issuer and payment processor Enfuce is bringing its two-in-one debit and credit card to the UK, France and Germany.
Credit Card Decline Codes Explained
EBizCharge
AUGUST 22, 2024
As consumers increasingly rely on digital transactions, they may face the frustrating experience of a declined credit cards. What are credit card decline codes? Credit card decline codes are specific error messages issued by a card issuer or bank when a credit card transaction can’t be processed.
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Card issuers defend late fees
Payments Dive
JULY 6, 2023
senators, the top 10 credit card issuers outlined their late fee practices and warned of potential consequences if fees are capped as the CFPB has proposed. In responses to a group of U.S.
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Demand for credit cards climbed this year
Payments Dive
NOVEMBER 22, 2022
Consumer demand for credit cards rose this year over prior years, and card issuers increasingly approved their applications despite the worsening economic climate.
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CFPB imposes $8 credit card late fee rate
Payments Dive
MARCH 5, 2024
The Consumer Financial Protection Bureau finalized a rule that sets a “threshold” of $8 for late fees that can be imposed by large credit card issuers, and eliminates automatic inflation increases.
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Downgrading Credit Card
Payment Savvy
JANUARY 11, 2023
If you are one of the ten million-plus American businesses with a merchant processing credit card account, the chances are you are aware of an industry term known as interchange. Each new credit card transaction is assigned to what is known as a target interchange category. Interchange Downgrade.
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Processing Costs: Differences in Debit & Credit Cards
Basis Theory
NOVEMBER 13, 2023
How Credit and Debit Cards Compare The fundamental difference between a credit and debit card is whose money is being used in the transaction: with a credit card, the consumer is borrowing from the card issuer , while with a debit card they are using their own money, stored with the issuing bank.
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Merchant Credit Card Fee Guide 2024: How Much Does It Cost to Process Credit Cards?
Stax
MAY 7, 2024
With credit card transaction volume hitting over $9.5 trillion in the US in 2022, accepting card payments is no longer a question of whether to, but how to. To complete payment processing, credit card companies have to charge processing fees. Cashless transactions have dethroned the age-old cash payments.
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How Much Do Credit Card Companies Charge Merchants?
EBizCharge
AUGUST 30, 2024
Navigating the complexities of credit card processing fees is a significant challenge for merchants in today’s digital economy. What are credit card processing fees? Credit card processing fees are fees merchants must pay to accept credit card payments from their customers.
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Understanding Credit Card Processing Fees for Merchants: How Much Does Processing Credit Cards Cost?
Stax
APRIL 18, 2024
Accepting credit card transactions is no longer a decision of whether to but rather how to. With cashless now BEING king, credit and debit cards are the primary method for your customers to make payments. of consumer payments came through card payments. Card Network (e.g., Pre-pandemic, 62.3%
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Credit card issuers are wrong about why card balances are falling: Wayne Best, Visa
Payments Source
JUNE 5, 2019
Credit card issuers are wrong about why card balances are falling — fintechs are luring customers away, according to Wayne Best, Visa's chief economist.
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CFPB seeks to improve credit card transparency
Payments Dive
MARCH 24, 2023
The agency wants to give consumers more information from credit card issuers so that it’s easier to compare the cards’ offers, especially their interest rates.
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What Should Merchants Do If They Suspect Credit Card Fraud At Their Business?
Clearly Payments
JANUARY 12, 2024
Credit card fraud is an unfortunate reality that businesses must face in today’s digital age. Year after year, credit card fraud attempts are on the rise, with a staggering 46% year-over-year increase reported globally. Here are specific steps to take if a credit card fraud incident occurs.
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6 ways 2020 was a bad year for credit cards
Payments Source
JANUARY 8, 2021
Credit card issuers also suffered, as demand lagged heavily for new cards and their overall spending dropped considerably during the year.
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Demystifying Credit Card Interchange Fees: What You Need to Know [2024 Rates and Updates]
Stax
DECEMBER 20, 2023
Interchange is the fee that credit card companies like Visa and Mastercard charge businesses to accept their cards. In this article, we will break down credit card interchange fees so you will know exactly how much you’re spending when running your business. Request Quote What Are Interchange Fees?
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The Transformative Power of Cards-as-a-Service in Revitalising Credit Cards
Fintech News
JUNE 12, 2024
In the rapidly evolving digital landscape, traditional credit cards face the challenge of staying relevant amidst the rise of digital wallets and changing consumer expectations. The emergence of Cards-as-a-Service (CaaS) offers a transformative solution that can help credit cards adapt and thrive in this new era.
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CFPB seeks more credit card transparency
Payments Dive
AUGUST 24, 2022
The Consumer Financial Protection Bureau is considering requiring top credit card issuers to share more information on their products to increase transparency for consumers.
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What Is a Credit Card Surcharge?
Stax
JANUARY 24, 2024
Credit cards remain a favored way of making payments among customers. Purchase volumes through credit cards jumped 51% between 2015 and 2021. However, the idea of applying a credit card surcharge to offset the processing cost of credit cards has always been a hotly debated topic.
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What Is a Credit Card Surcharge?
Stax
JANUARY 24, 2024
Credit cards remain a favored way of making payments among customers. Purchase volumes through credit cards jumped 51% between 2015 and 2021. However, the idea of applying a credit card surcharge to offset the processing cost of credit cards has always been a hotly debated topic.
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What Is the Role of Merchant Acquirers in Credit Card Processing?
EBizCharge
AUGUST 12, 2024
As digital transactions dominate the market, understanding the mechanics of credit card processing becomes essential for businesses and consumers. Merchant acquirers , also known as acquiring banks, are responsible for setting up and maintaining merchant accounts, allowing businesses to accept payment cards from customers.
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How to Negotiate Lower Credit Card Transaction Fees
Synapse Payment Systems
AUGUST 25, 2022
Almost every business accepts credit card payments these days. The good news is that it is possible to learn how to lower credit card processing fees. Here’s what you should know about negotiating lower credit card processing fees. Most credit card processing fees are between 2.5
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Walmart and Capital One break up
Payments Dive
MAY 24, 2024
The retail behemoth and its credit card issuer said in a terse, joint press release Friday that they’re parting ways.
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Bitcoin selloff accelerates as credit-card issuers extend ban
Payments Source
FEBRUARY 5, 2018
Bitcoin declined for a fifth day, breaking below $7,500 and leading other digital tokens lower, as Lloyds Banking Group Plc joined a growing number of big credit-card issuers halting purchases of cryptocurrencies on their cards.
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CFPB caps credit card late fees
Finextra
MARCH 5, 2024
The Consumer Financial Protection Bureau (CFPB) finalized a rule today to cut excessive credit card late fees by closing a loophole exploited by large card issuers.
New EPC Study Shows Credit Card Rewards are a Lifeline for Working Class Americans
Electronic Payments Coalition
MAY 8, 2024
On Monday, the Electronic Payments Coalition released a new report examining how American consumers, including lower-income consumers, utilize reward credit cards and how proposals restricting card issuers’ ability to offer reward credit cards would adversely impact cardholders of all incomes.
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Enfuce Announces European Expansion of 2-in-1 Debit and Credit Card With Mastercard
Fintech Finance
SEPTEMBER 10, 2024
Issuer processing powerhouse Enfuce today announces the expansion of its E2 card to the UK, France and Germany, in collaboration with Mastercard. Offering debit and credit PANs in one card, E2 bolsters the company’s track record of delivering cutting-edge products that benefit both card issuers and customers.
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Capital One insists Discover deal won’t increase card fees
Payments Dive
AUGUST 14, 2024
The bank and credit card issuer told regulators in a letter that competition will require it to keep its products fairly priced.
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Charge Cards vs. Credit Cards: Which is Right for Your Business?
EBizCharge
JULY 10, 2024
Understanding the nuances of a business charge card versus a credit card is essential for any company looking to optimize its purchasing power and financial management. Charge cards, often overshadowed by their credit card cousins, offer unique benefits for businesses.
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CFPB gives credit card issuers flexibility on billing disputes
Payments Source
MAY 13, 2020
With the pandemic's economic toll leading to elevated billing error notices, the consumer bureau said card companies will not be cited if they fail to meet the typical time frame for resolving disputes.
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Avidbank Partners with CorServ to Implement a Beneficial Credit Card Program for Commercial Customers
Fintech Finance
MAY 16, 2024
CorServ , a company that empowers banks and fintechs with payment programs, has partnered with Avidbank (over $2 billion in assets) to launch a beneficial credit card program for their commercial customers.
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Zeta, Featurespace deliver fraud detection to credit card issuers
The Paypers
MARCH 22, 2023
Credit card processor Zeta has partnered with fraud prevention company Featurespace to deliver a credit card processing and fraud detection solution for US-based issuers.
Pinnacle Bank Partners with CorServ to Implement a Modern Credit Card Program for Commercial, Business and Consumer Customers
Fintech Finance
JUNE 3, 2024
CorServ , a company empowering banks and fintechs with payment programs, has partnered with Pinnacle Bank ($2 billion in assets) to launch a comprehensive credit card program for its commercial, business and consumer customers. Pinnacle Bank, headquartered in Elberton, GA, has been locally owned since 1934.
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The benefits—and risks—of turning credit card loyalty points into retail currency
Payments Source
MARCH 8, 2020
Credit card issuers caught in the trap of chasing new customers with increasingly costly rewards-point programs are trying something new: letting more users redeem rewards directly with merchants instead of acting as the intermediary.
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JPMorgan revives forced arbitration for credit-card holders
Payments Source
JUNE 5, 2019
credit-card issuer, is reviving a controversial policy that forces credit-card customers to use arbitration instead of court to resolve payment disputes. JPMorgan Chase & Co., the biggest U.S.
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Credit Card Processing for Small Business: 9 Tips for Accepting Payments Securely and Cost-Effectively
Stax
DECEMBER 20, 2023
Finding great credit card processing rates may seem impossible, but there’s hope. By following these simple tips, you’ll be able to secure credit card processing rates that make big businesses jealous. Learn More TL;DR Not all credit card processing companies are created equal.
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Synchrony’s Run As Walmart’s Exclusive Credit Card Issuer Is Over
PYMNTS
OCTOBER 24, 2018
Synchrony Financial’s run as the exclusive credit card issuer for Walmart came to an end in July, with reports that Walmart decided this past summer to switch to Capital One Financial.
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What is Cards-as-a-Service and How is It Reshaping The Future of Credit Cards
Fintech News
JUNE 12, 2024
In the rapidly evolving digital landscape, traditional credit cards face the challenge of staying relevant amidst the rise of digital wallets and changing consumer expectations. The emergence of Cards-as-a-Service (CaaS) offers a transformative solution that can help credit cards adapt and thrive in this new era.
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Synchrony signals openness to Walmart
Payments Dive
APRIL 20, 2023
Despite a somewhat troubled past with Walmart, the card issuer appears to be raising its hand if the retailer is looking for a new credit card partner.
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Amid doom and gloom, retail credit card issuer predicts quick recovery
Payments Source
MARCH 25, 2020
Alliance Data Systems, which has substantial exposure to the mall-based retail sector, sought Tuesday to assuage investors' fears about the impact of the COVID-19 outbreak.
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O3 Capital Begins Issuing Four American Express Credit Cards to Help Consumers and SMEs in Nigeria
The Fintech Times
MAY 11, 2024
O3 Capital , a Nigerian fintech and non-bank credit card issuer, is set to begin issuing four new American Express credit cards, serving local consumers and SMEs alike.
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alt.bank Migrates Card Operations to Pismo
Fintech Finance
JULY 25, 2024
alt.bank , whose novücard is Brazil’s only credit card with automatically increasing limits, migrated its legacy credit card infrastructure to Pismo in just five months. Pismo provides clients with comprehensive core banking and card-issuer processing capabilities across all product types through cloud native APIs.
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Uphold acquires cards issuer Optimus
The Paypers
FEBRUARY 3, 2021
US-based Uphold , a digital money platform, has announces its acquisition of Optimus Cards , a debit and credit card issuer across the UK and Europe.
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Capital One to Acquire Discover consolodating major US credit card companies in $35 Billion Deal
Fintech Finance
FEBRUARY 20, 2024
This all-stock transaction unites two of the nation’s leading credit card issuers, setting the stage for the creation of a robust payments network capable of competing on a global scale.
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Credit cards rework offers amid travel, restaurant spending drop
Payments Source
APRIL 2, 2020
A coronavirus-spurred slowdown in travel and restaurant spending has credit card issuers reworking their offerings.
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