Holiday Spending May Feature More Debit And Cash. Mobile Payments? Not So Much

Merchant payment processing solutions

The annual holiday-spending frenzy is about to kick off, and if a consumer survey released on Monday is any indication, it will feature a lot more debit card and cash usage and a lot less mobile payment than you might have expected. Some 39% of consumers intend to use cash most often this holiday season, while 31% indicated debit…

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Square IPO Spotlights Changing Payment Processing Landscape

Square Inc IPO

Overview Square Inc., a payments processing company led by Twitter CEO Jack Dorsey, went public yesterday. Despite the company’s weak financials dominating headline coverage over the past few days, technology-focused firms such as Square continue to grow in market share within the Credit Card Processing and Money Transferring industry. Despite traditional major players such as Visa,…

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E-Commerce Spending for November Up 11% Over 2013, comScore Reports

e-commerce spending

Electronic-commerce spending from work and home desktop computers from Nov 1-23 hit $17.5 billion, up 11% from $15.8 billion in the same period a year earlier, Internet metrics firm comScore Inc. reported Tuesday. Most e-commerce spending is charged to credit and debit payment cards, so the early results for the 2014 holiday season bode well…

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Pulse Sues ‘Long-Time Monopolist’ Visa Over Post-Durbin Debit Actions, Seeks Rival’s ‘Restructuring’

Over the past several years, during his conference calls with analysts to review Discover Financial Services’ quarterly earnings, chief executive David W. Nelms occasionally took swipes at Visa Inc.’s efforts to maintain its dominant debit card market share in the wake of the Durbin Amendment, which severely undercut Visa’s Interlink PIN-debit network. For example, in…

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Merchants Notch Win in Feud Over Debit Card Fees

Federal Judge Richard Leon’s decision to overturn a U.S. Federal Reserve rule on debit card interchange fees charged by banks represents a victory for retailers, and will likely force the Fed to reduce such fees. Leon ruled that the Fed did not do an adequate job of ensuring that the fees accurately reflected the actual…

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Court Overturns the Federal Reserve’s Debit Transaction Cap

Yesterday, The U.S. District Court for the District of Columbia issued a decision striking down the Federal Reserve’s price caps on debit interchange fees. U.S. District Judge Richard Leon ruled that the Federal Reserve did not appropriately fulfill Congress’s intent of the Durbin Amendment, a provision of the Dodd-Frank legislation. Fees will not be lowered, however,…

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