Payments Source

MAY 26, 2016

Citing a growing frustration with how the EMV transition has interfered with merchants' options for PIN debit transaction routing and authorization, the Merchant Advisory Group for the first time is asking federal auditors to examine the practices of some debit card issuers.

Card Issuer 79

Card Issuer Debit Transaction Debit Card EMV 79

PYMNTS

OCTOBER 14, 2020

When the chips are down, consumers love and trust their debit cards. Among clear COVID-era trends is the embrace of debit for managing and mastering new realities. Debit cards remain the payment method of choice among U.S. Consumers have clung to debit even as the rest of their shopping behaviors have changed.

Consumer 73

Consumer Debit Card Debit Network Identity Theft 73

PYMNTS

SEPTEMBER 15, 2020

Consider the fact that in Mexico it can take four to six months to open a business account — and as much as a year to get access to a debit card. As Poovala told Webster: “We had to get a debit card by actually creating our own startup. It’s been 20 months, and we tried to get a debit card from some of the largest banks.

Debit Card 103

Debit Card FinTech Online and Mobile Banking Account Takeovers 103

Stax

MARCH 14, 2024

Currently, in the United States, most credit cards are chip and signature, while most debit cards are chip and PIN. Like magnetic strip credit cards, you sign for a purchase when using a chip credit card. When using a chip debit card, you enter a PIN just as you did with your magnetic strip debit card.

Chip Cards 88

Chip Cards CHIPS EMV Debit Card 88

PYMNTS

NOVEMBER 12, 2020

Many consumers who didn’t already have contactless cards in their wallets were clamoring for those cards to avoid contact at the POS — and that put pressure on merchants to meet that demand. Use of debit in eCommerce has accelerated during the pandemic.

Debit Card 64

Debit Card Point-of-Sale (POS) Issuers Federal Reserve 64

PYMNTS

DECEMBER 31, 2020

Debit card issuers face an ever-growing array of fraud schemes perpetrated against them and their account holders. Effective card offerings require financial institutions (FIs) to quickly and accurately detect myriad forms of fraud, forcing them into a delicate balancing act. Security challenges are mounting, too.

Issuers 109

Issuers Card Issuer Point-of-Sale (POS) Debit Transaction 109

Fintech Finance

DECEMBER 13, 2023

for UK-European Economic Area (EEA) consumer debit transactions and 0.3% for consumer credit transactions (where the transactions are made online[1] at UK businesses) A lasting cap on these interchange fees in the future, once further analysis has been carried out to establish an appropriate level.

Cross-Border 59

Cross-Border Caps Debit Card Visa 59

Payments Source

NOVEMBER 16, 2016

Merchants may have gained an edge in their dispute with Visa over how EMV debit transaction routing is handled at the point of sale.

Fed 103

Fed Debit Transaction EMV Disputes 103

PYMNTS

APRIL 28, 2020

These shifts have made digital banking and debit transactions more important than ever. Indian FI Paytm launched virtual and contactless plastic debit cards to help customers circumvent using cash or having to hand over physical cards to retailers. The Paytm cards can be used both in-store and online.

Online and Mobile Banking 95

Online and Mobile Banking Debit Card Direct Deposit Contactless Payments 95

PYMNTS

FEBRUARY 1, 2021

Both firms’ management stated during their respective earnings calls that debit spending remained healthy subsequent to the end of the quarter. The issuers, too, have seen surges in debit spending. Wells Fargo stated that debit card purchase spending was up 11 percent; J.P. As to where that debit spend is going: J.P.

Issuers 82

Issuers Debit Card BNPL Point-of-Sale (POS) 82

PYMNTS

JANUARY 30, 2020

This payment rail’s use is going strong in the United States, with debit card penetration reaching 78 percent in 2018. Consumers also show continued interest in debit even as they adopt newer payment instruments, and a 2019 report found that 61 percent of mobile wallet users linked debit cards.

Security 73

Security Debit Card Fraud Detection Federal Trade Commission 73

PYMNTS

MARCH 19, 2019

In addition, the number of people making mobile payments in stores is on the move in Vietnam and more than four in 10 credit and debit transactions were processed through contactless technology in the United Kingdom last year. spent 584 billion GBP through debit cards, and total credit card spending reached 192 billion GBP.

Mobile Payments 59

Mobile Payments Debit Card Debit Transaction Contactless Payments 59

PYMNTS

APRIL 1, 2020

billion non-prepaid debit card transactions in 2018, solidifying debit as a staple payment type. They insert or swipe their debit cards at stores’ point-of-sale (POS) devices — or key in details online — and maybe enter PINs, but the behind-the-scenes processes through which transactions are routed are kept invisible.

Debit Card 56

Debit Card Electronic Funds Transfer (EFT) Debit Transaction Federal Reserve 56

Fintech News

SEPTEMBER 17, 2024

Australia, for example, introduced caps on interchange fees in 2003 for both credit and debit transactions. India has introduced interchange caps for debit and transactions on the United Payments Interface (UPI) network, but credit transactions remain uncapped. per transaction, according to Bankrate.com.

APACS 106

APACS Regulations Caps Real Time Payments 106

Payments Source

JANUARY 14, 2020

The specific impetus for the Federal Trade Commission's inquiry into Visa and Mastercard's debit transaction routing processes is not entirely clear, but it likely stems from the effect that advanced payments technology has had on Durbin amendment compliance.

Federal Trade Commission 83

Federal Trade Commission FTC Debit Transaction Compliance 83

PYMNTS

JANUARY 19, 2021

This includes shifts in which consumers are shopping and paying, and in the payment tools or methods they are using to finalize their transactions. consumers now count themselves as “ debit-centric ” users, a sizable jump over the 33 percent who said the same about credit cards. Another study found that 55 percent of U.S.

Debit Card 62

Debit Card Online and Mobile Banking Push-to-Card P2P 62

PYMNTS

NOVEMBER 23, 2016

Those modifications, the card giant said, come on the heels of guidance that has been issued by the Federal Reserve. The company said that, with the chip cards, routing and processing of debit transactions are made possible across two payment application identifiers (AID) that are contained on the chip.

Adjustments 60

Adjustments Chip Cards EMV Debit Transaction 60

PYMNTS

JANUARY 21, 2021

This digital shift coincides with consumers’ growing trend toward using debit cards for eCommerce as well as for brick-and-mortar purchases. Ensuring that robust fraud protections are in place to safeguard debit transactions is thus growing increasingly important for businesses, financial institutions (FIs) and issuers.

Debit Card 59

Debit Card Online and Mobile Banking Debit Transaction Issuers 59

Paystand

NOVEMBER 21, 2024

How does the payment cycle work for customers who use credit cards? How does the payment cycle work for customers who use debit cards? Key Takeaways Central Role in Transactions: Issuing banks are pivotal to the payment process, ensuring secure and seamless credit and debit card transactions.

Debit Transaction 40

Debit Transaction Debit Card Credit Risk Mitigation 40

Fintech Finance

MAY 10, 2024

a financial wellness fintech company, announced that lenders and servicers will be able to use its platform to offer borrowers a convenient payment option: mortgage text to pay via debit card. A growing number of borrowers want the reminders via SMS, with a text to pay option with their debit card,” he said.

Debit Card 52

Debit Card Fincen Automation Debit Transaction 52

Payments Source

NOVEMBER 30, 2016

has begun a long-term agreement to provide debit transaction processing for Virgin Money customers in the U.K. Payments processor and technology provider Total System Services Inc.

Process 73

Process Debit Transaction Processors Agreements 73

PYMNTS

SEPTEMBER 14, 2020

Debt markets contract during economic downturns — a point the pandemic is proving beyond the shadow of a doubt as debit usage causes a near-total eclipse of credit in Q2 and after. The September Next-Gen Debit Tracker® examines consumer behavioral shifts that are taking on an air of permanence as recovery and reopening unfolds all around.

Debit Transaction 57

Debit Transaction Contactless Payments Debit Card Funds Availability 57

PYMNTS

SEPTEMBER 9, 2020

These two forces appear to be driving an increase in consumers’ use of touch-free debit payment options. Many shoppers are now loading their debit card details into mobile wallets and ordering apps, keying the information into online checkouts or waving contactless debit cards at POS terminals.

Debit Card 64

Debit Card Credit Union Service Organization Point-of-Sale (POS) Contactless Payments 64

The Fintech Times

SEPTEMBER 27, 2024

The complaint Filed in the US District Court for the Southern District of New York, the complaint explains that more than 60 per cent of debit transactions in the United States run on Visa’s debit network. As a result, it can charge over $7billion in fees each year for processing those transactions.

Debit Network 59

Debit Network Innovation Debit Transaction Agreements 59

Payments Source

JANUARY 22, 2020

Seeking to clarify how merchants and banks should handle PIN debit transactions, the Accredited Standards Committee X9 and PCI Security Standards Council have created a unified standard.

Accreditation 68

Accreditation Security Debit Transaction Transactions 68

Payments Source

MAY 4, 2018

There are lot of PINless debit transactions available to capture, and First Data's migration to dual messaging on Star supports any method a consumer may choose at the point of sale.

Debit Transaction 67

Debit Transaction Transactions Payments Consumer 67

Stax

NOVEMBER 13, 2024

ACH credit payments differ from ACH debit payments and both are distinct from credit and debit card payments. TL;DR ACH payments are a popular way for individuals and businesses to transact with each other because they are easy and quick to send. What are ACH Debit Payments?

ACH 88

ACH ACH Network Payer Payee 88

Payments Source

JUNE 15, 2018

Visa has moved to cut its debit transaction fees in India by 95%, bringing it more in line with RuPay, India’s state-run domestic debit scheme.

Small Business 63

Small Business Debit Transaction Transactions Card Network Rules 63

PYMNTS

APRIL 30, 2020

As had been seen with payments networking peer Mastercard, Visa said that its latest quarter showed greater traction in debit transactions than in credit. The company logged 9 percent growth in debit, as measured in constant currency, versus a 1 percent gain in credit to a respective $1 trillion and $1.1 billion.

Transactions 89

Transactions Cross-Border Volume Contactless Payments 89

Tearsheet

MAY 9, 2024

The transition to multi-product approach: Amid intensifying competition in the card space, Klarna’s strategic move into consumer credit mirrors the trajectories of industry peers like Affirm, which introduced the Affirm debit card last year, and Robinhood’s recent credit card debut.

Debit Card 52

Debit Card Credit Cards BNPL Debit Transaction 52

PYMNTS

DECEMBER 4, 2018

Visa and Mastercard are offering to cut fees that are paid by merchants on tourists’ card payments made in the European Union — an effort that would help end an antitrust investigation in the region. Those charges would be tied to in-store transactions. For online transactions, the debit card charges would be 1.15

Visa 44

Visa Debit Card Debit Transaction Credit Cards 44

PYMNTS

FEBRUARY 19, 2020

He added that other variables must come into play when examining risk, focused on a consumer’s history: where, when and how they shop and transact. Using A Debit Card At Walmart. “We’re constantly educating ourselves as much as we can,” Lerdal said.

ATM 67

ATM Point-of-Sale (POS) Fraud Detection Mitigation 67

PYMNTS

DECEMBER 30, 2020

Boyer and Frank Wheelahan , manager of digital fraud channels for People’s United, explained the nature of the fraud threats targeting debit transactions in 2020 as well as the ML and rules-based tools the bank deploys to combat these threats. Debit Fraud Threats In The Time Of eCommerce.

Fraud Prevention 66

Fraud Prevention Rules Debit Card Data Breach 66

Payment Savvy

JULY 12, 2024

Each transaction incurs fees the card issuer sets, varying based on the card type and associated risks. Debit cards typically carry lower fees due to lower payment risk, whereas credit cards involve higher fees to offset potential defaults. Pros: No fees for bank account or debit card transactions.

Debit Card 52

Debit Card Online and Mobile Banking Payments Zelle 52

PYMNTS

SEPTEMBER 26, 2019

That consideration includes assessing the potential benefits and risks that come with the two fundamental types of bank payments: push and pull transactions. This month’s Deep Dive explores how push payments speed transactions, as well as the benefits and potential challenges of their use in real-time payment systems.

Payer 67

Payer Real Time Payments Push-to-Card Payee 67

Clearly Payments

NOVEMBER 17, 2023

Accept Debit Transactions, But Not Visa Debit Businesses can promote the usage of debit transactions as a means of reducing overall costs. Debit transactions, often characterized by lower processing fees compared to credit card transactions, offer a cost-efficient alternative for businesses.

Credit Cards 52

Credit Cards Process EMV Processors 52

PYMNTS

AUGUST 3, 2018

Coverage includes a 41-month prison sentence for a bitcoin trader, Starbucks mulling a bitcoin project, Barclays investing in an alternative lender, Discover naming a new chief executive and proposed legislation to ban overdraft fees on ATM and debit transactions. Bitcoin Trader Thomas Mario Costanzo Gets 41-Month Sentence In Prison.

Bitcoin 41

Bitcoin Money Laundering Debit Card ATM 41