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Breaking News articles for April 2024

Merchants amp up rhetoric over acceptance costs

Monday, April 29, 2024

The Merchants Payments Coalition, a group representing several merchant trade groups, is on the warpath, making the case for the Credit Card Competition Act even as Visa and Mastercard have made major concessions on interchange. The CCC, authored by Senator Richard Durbin, D-Ill., aims to induce merchant choice in processing networks by forcing issuing banks to program their cards to be accepted for processing across at least two networks, only one of which can be owned by Visa or Mastercard.

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TRANSACT 2024, another stand-out conference

Thursday, April 25, 2024

TRANSACT 2024, the Electronic Transactions Association's commendable, comprehensive annual conference, drew over 3,000 attendees, 150 exhibitors and 120 speakers from all parts of the payments ecosystem, according to Jodie Kelley, CEO of the ETA.

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Merchants, service providers must evolve together, Ingenico finds

Wednesday, April 24, 2024

Given the transformative effect digital payments have had on the consumer-merchant relationship, Ingenico, a global leader in payment acceptance solutions, worked with consulting firm Edgar Dunn & Co. to identify ways to overcome the biggest barriers to achieving success in the new consumer-merchant landscape.

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Nacha starts year 50 with a bang

Tuesday, April 23, 2024

Fifty years in the making, and the ACH is finally becoming a preferred payment mechanism, especially when money needs to get someplace fast. Not instantaneously, but, typically, within hour.

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Green Sheet interviews NAB's Suri Patel

Thursday, April 18, 2024

North American Bancard expanded its partnership with Visa by joining Visa Platform Connect, a program designed to facilitate rapid, secure connections across the Visa Acceptance Solutions ecosystem. NAB representatives noted that the partnership will enhance NAB's Electronic Payment Exchange (EPX) platform and give merchants a more robust offering with the trusted Visa brand.

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Jawboning begins over interchange settlement

Wednesday, April 17, 2024

The proposed legal settlement announced between Visa, Mastercard and merchants, in which the card brands agreed to roll back interchange and allow payment steering doesn't go far enough for some merchants. The Merchants Payments Coalition is already calling foul, suggesting planned increases in one of the many non-interchange fees Mastercard assesses as evidence the card brands continue "to take advantage of Main Street" merchants.

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ETA spotlights leadership team before TRANSACT 2024

Monday, April 15, 2024

Two days before this year's TRANSACT – Powered by ETA conference kicks off at Mandalay Bay Resort and Casino in Las Vegas, the Electronic Transactions Association heralded its 2024 Board of Directors.

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Green Sheet interviews Aevi, Silverflow CEOs

Friday, April 12, 2024

On February 26, 2024, a new partnership was formed between European fintech leaders Aevi, an in-person payment orchestration provider, and Silverflow, a cloud platform for global card processing. In an exclusive interview with The Green Sheet, company leaders discussed the new strategic alliance that will drive direct payment processing at scale under a unified, fully integrated processing platform.

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CFPB IDs risks in virtual game land

Tuesday, April 9, 2024

Looks like trouble may be brewing in the gaming sphere. The Consumer Financial Protection Bureau just issued a report suggesting growth in banking and payments features in gaming could be putting consumer's assets and personal data at risk.

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Policymakers, business leaders address AI threats

Friday, April 5, 2024

A joint initiative between U.S. and UK policymakers, disclosed April 1, 2024, and a lawsuit filed Feb. 29 by Elon Musk against OpenAI GP LLC, reflect concerns about artificial intelligence and its potential to harm humans and the overall global economy.

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PayPal ruling lifts all digital wallets

Wednesday, April 3, 2024

A March 29, 2024, ruling by a federal judge ended a four-year debate between PayPal Holdings Inc. and the Consumer Financial Protection Bureau over digital wallet and prepaid card fee structures and disclosures. Judge Richard L. Leon of the U.S. District Court for the District of Columbia agreed with PayPal that digital wallets are materially different than "general purpose reloadable (GPR) cards" and should not be held to the same regulatory standards.

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Merchant fraud costs $3 for each dollar lost

Monday, April 1, 2024

Merchants in the United States and Canada incur an average cost of $3 for every $1 lost to fraud. That's according to the LexisNexis true cost of fraud study: ecommerce and retail report, conducted by Forrester Consulting on behalf of LexisNexis Risk Solutions.

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