The next generation iPhone, scheduled for a September launch, will feature a mobile payments solution, reports Wired.
More than 76 percent of mobile phone users in the United States have never used a mobile wallet. But consumers overwhelmingly say they would leave their traditional wallets at home in favor of a mobile alternative – and that means the market is poised to explode once a front-runner emerges.
A U.S. Court of Appeals overturned a lower-court ruling today that supported merchants’ arguments in the ongoing debate over the interchange fees financial institutions charge for accepting card-based transactions. The Fed’s cap on “swipe fees” is not too high, the court ruled.
The Federal Reserve Board will appeal a district court ruling striking down interchange fee caps.
The judge reviewing the debit interchange cap rule has set an aggressive schedule for the Federal Reserve to revise the rule. The Electronic Payments Coalition continues to monitor the developments.
Strategic Link business partner CSCU invites you to learn about PAVD and its impact to your debit card portfolio.
A U.S. District court ruling strikes down the Federal Reserve’s price caps on debit interchange fees. The ruling could be devastating for some financial institutions. The NWCUA is working with CUNA to determine next steps.
Northwest Community Credit Union and UFCW Northwest Federal Credit Union last week announced plans to join forces, continuing the recent trend of credit union mergers in Oregon and Washington.
Visa, MasterCard and several big banks reached a $7.2 billion antitrust settlement with a large group of merchants regarding interchange fees. The settlement will cost Northwest credit unions between $2.5 and $3.5 million in fee income.
The Federal Reserve Board filed a response Friday in a federal court in Washington, D.C., to merchants’ arguments for summary judgment in their lawsuit challenging the board’s debit card interchange fees rule mandated by the Dodd-Frank Act.
The Federal Reserve Board published comparative information recently on the average debit card interchange fee that each payment card network charges acquirers and provides to debit card issuers. The board will publish this information annually.
The National Credit Union Administration (NCUA) recently unveiled two new web pages: One on the NCUA Guaranteed Notes (NGN) program, and another on corporate credit union system resolution costs.
The NWCUAâ€™s Regulatory Advocacy team works with state and federal regulators to help reduce the regulatory burden on credit unions and protect the credit union movement. Included here is an update on the debit interchange fee and the importance of reporting suspected instances of steering.