An overview of October 2024 changes. Every year in April and October, the card brands update processing rates and rules. This is a summary of the rate and rule changes that will impact the broadest …
Visa antitrust suit filed by the DOJ on September 24. On September 24th, the US Department of Justice (DOJ) filed a civil antitrust lawsuit against Visa, accusing it of illegally monopolizing the US debit card …
Every year in April and October, the card brands update processing rates and rules. Verisave has been monitoring developments to provide our clients with advance notice of the changes that will go into effect. Anticipated …
In June, a Federal judge rejected the proposed $30 billion settlement announced by Visa and Mastercard in March 2024. The settlement stemmed from a 2005 class-action lawsuit by merchants that accused Visa, Mastercard, and banks …
Illinois Interchange Fee Prohibition Act Challenged. On August 15th, the American Bankers Association (ABA), America’s Credit Unions, the Illinois Bankers Association and the Illinois Credit Union League filed a lawsuit to block the Illinois Interchange …
Discover Financial Settlement Now Subject to Court Approval. On July 1, 2024, Discover Financial entered into an agreement to settle class action lawsuits from merchants regarding a card product misclassification which caused merchants to pay …
Accessing Optimal Credit Card Processing Discounts for a Major Payment Facilitator A Payment Facilitator, or PayFac, is a payment service provider that makes it easy for organizations to accept credit card and other electronic payments …
In May, both Visa and Mastercard shared details on ways they are using generative AI to combat fraud. What will this mean for your business? Here’s what we know so far: Visa Visa announced that …
Visa seeks to provide more flexibility and security for the modern payments landscape. On May 15th, Visa unveiled new innovation related to payment cards and account-to account payments that it asserts will provide account holders …
Regulatory Updates Regarding Credit Card Fees: Q2/24 This article provides an update regarding ongoing regulatory activity impacting credit card processing. Comment Period for Federal Reserve Proposal to Lower Debit Interchange Ends The comment period for …
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