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 …
October 2024 Credit Card Processing Rate and Rule Changes
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 Hit with Debit Card Antitrust Suit
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 …
Preview of October 2024 Rate and Rule Changes
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 …
Judge Rejects $30B Visa and Mastercard Antitrust Settlement
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 …
Banks Sue to Stop Illinois Interchange Fee Prohibition Act
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 Expected to Pay Merchants $1.2B to Settle Product Misclassification Suit
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 …
An Innovative Solution Brings $905k in Annual Savings to a Large Payment Facilitator (PayFac)
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 …
