January 2025 Credit Card Processing Rate Changes
2025 begins with an early set of rate changes. Every year in April and October, the card brands update processing rates and rules. Sometimes, rate changes occur at other times of the year as well. …
2025 Card Brand Outlook
Verisave offers its take on the landscape for the card brands in 2025. The payments industry is in constant flux. While it’s critical to react quickly to card brand updates and major processor activities, it’s …
American Express Fails to Block Merchant Class Action Suit
Merchant suit asserts American Express policies inflate cost of card payments. In December 2024, American Express failed in its attempt to persuade a federal judge to block a proposed class action suit filed by merchants. …
CFPB Warns Card Issuers About Illegal Practices
CFPB addresses unlawful practices regarding awards. In December 2024, the Consumer Financial Protection Bureau (CFPB) issued a circular warning credit card issuers that they may violate federal law when they devalue earned rewards, hide the …
Senate Committee Holds Hearing on Credit Card Fees
Hearing scheduled to bring attention to the CCCA bill. Senator Dick Durbin (D-IL) is apparently making an effort to revive the stalled Credit Card Competition Act (CCCA) which has been languishing since he introduced the …
Visa Releases Fall 2024 Biannual Threats Report
Payment threat actors are becoming more organized and sophisticated. Visa has released its Fall 2024 Biannual Threats Report which provides an overview of the top threats to the payments ecosystem as identified by its payment …
Litigation over Illinois Interchange Fee Prohibition Act Escalates
Opposing briefs filed on interchange law. In June 2024, the Illinois Interchange Fee Prohibition Act (IFPA) was signed into law. It prohibits the collection of interchange fees on sales taxes, excise taxes, and tips if …
Payment Enumeration Attacks Explained
Enumeration attacks are a top threat to the payments ecosystem. Enumeration attacks are a type of cyberattack used to discover data in a system or application. For example, a malicious actor may use an API …
How a Medical and Dental Supplies Manufacturer Trimmed Processing Costs
Trimming costs by $33k per month through a payments stack optimization. Finance teams are problem solvers by nature. But with all of their creativity and thoroughness, they can only address so many projects at once–there …
Heartland Clients Identify and Eliminate Fee Increases
Annual Card-Brand Increases Often Trigger Processor Rate Increases Recently, several clients of Heartland Payment Systems found themselves facing unexpected fee increases, including new annual and one-time infrastructure fees. It’s not uncommon for payment processors to …
