July 5, 2024
| Today’s news and insights for payments leaders
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NOTE FROM THE EDITOR
Dear readers:
On this holiday weekend, we offer you some of our greatest hits from the first half of the year. Below you will find stories that resonated with readers.
It’s no surprise that they include pieces about some of the biggest names in the industry. Think Visa and Fiserv. While the Visa-Mastercard landmark court settlement was one of our most read stories, we substituted a piece below about its rejection. Fiserv made waves with its bid for a special bank charter. And Capital One’s moves also drew attention, with its proposed acquisition of Discover Financial and its break-up with mega-retailer Walmart.
Overall, the most popular pieces followed big changes circling the industry, including pressures bearing down on the processing of credit and debit card transactions, and the fees associated with them. On a related noted, readers were also interested in card surcharging issues.
Please enjoy revisiting this coverage. Then look for fresh material from us when we return from the holiday weekend on Monday, July 8. These storylines will keep evolving in the second half of the year.
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On Tuesday, Judge Margo Brodie denied a preliminary settlement proposal made by the card networks Visa and Mastercard, and merchants who sued them in federal court nearly two decades ago.
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Requests for a slice of the Visa-Mastercard settlement are due by a May 31 deadline. Lawyers are racing to alert eligible businesses.
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The state’s new law will force merchants to limit credit card surcharges and more clearly disclose them to consumers. If the businesses don’t, they could face a $500 penalty.
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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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With its acquisition of the card network, Capital One seeks to elevate Discover’s brand while also working to expand its acceptance abroad.
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The designation would allow the payment processor to own transactions from end-to-end, removing the need for a bank partner.
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Treating payments as just another software feature is a missed opportunity for significant growth and customer acquisition. Learn how the right strategy can lead to competitive advantages in this playbook.
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From Our Library
Playbook
Custom content for Mastercard
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Playbook
Custom content for Wind River Payments
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What We're Reading
Wall Street Journal
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Law360
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NBC News
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American Banker
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Reuters
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