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Payments News Update - May 21, 2020

Legal and Regulatory Developments SPOTLIGHT: Finextra – May 18, 2020 EuroCommerce Director-General Christian Verschueren today pressed the European Commission to act on the growing problems facing retailers and wholesalers resulting from the limited scope of the Interchange Fee Regulation (IFR). He asked for firm proposals to amend...

Payments News Update - May 14, 2020

Legal and Regulatory Developments SPOTLIGHT: PaymentsSource – May 11, 2020 (subscription required) The potential for a new card scheme throughout Europe has been a discussion point surrounding the Single Euro Payment Area since its inception more than a decade ago. A new proposal could bring this concept into reality. The Smart Payment...

Payments News Update - May 7, 2020

Legal and Regulatory Developments SPOTLIGHT: Bloomberg – May 1, 2020 Travel technology companies Sabre Corp. and Farelogix Inc. called it quits on their $360 million deal, but their recent legal victory against antitrust charges is likely to help other firms escape scrutiny. Sabre terminated its planned acquisition of Farelogix Friday, less than a...

Payments News Update - April 30, 2020

Legal and Regulatory Developments SPOTLIGHT: PYMNTS – April 30, 2020 () The COVID-19 pandemic has caused an impact on open banking developments worldwide as regulators, financial institutions (FIs) and businesses set their sights on helping their current customers rather than future innovations. Implementing any new...

Payments News Update - April 23, 2020

Legal and Regulatory Developments SPOTLIGHT: American Antitrust Institute – April 21, 2020 () In a new commentary addressing the Department of Justice’s recent defeat in attempting to block the merger of Sabre and Farelogix, AAI Vice President of Legal Advocacy Randy Stutz...

Payments News Update - April 16, 2020

Legal and Regulatory Developments SPOTLIGHT: International Business Times – April 14, 2020 A number of fintech firms, including PayPal Holdings Inc., Square Inc. and Intuit Inc., have retooled their lending programs and begun facilitating Small Business Administration Paycheck Protection Program loans through major U.S....

Weekly News Update -- December 19, 2019

Legal and Regulatory Developments SPOTLIGHT: MLex – December 13, 2019 (subscription required) () Visa and Mastercard's $6.3 billion class action settlement over their rules for merchants has won a judge's final approval. The deal is fair, reasonable and adequate, US District Judge Margo Brodie said in an...

Payments News Update -- November 21, 2019

Legal and Regulatory Developments SPOTLIGHT: Digital Transactions News – November 18, 2019 Confirming rumors that the Federal Trade Commission is looking into issues involving debit card transaction routing, Visa Inc. late last week reported the Federal Trade Commission has asked it to voluntarily provide information about its routing...

Payments News Update -- August 28, 2019

Legal and Regulatory Developments PaymentsSource – August 28, 2019 (subscription required) Processors that rely on cross-border payments to reach new territories are feeling the economic squeeze of the looming Brexit deadline. The problem with Brexit is less about politics and regulation, and more about how these factors will impact processing...

Payments News Update -- August 21, 2019

Legal and Regulatory Developments SPOTLIGHT: Reuters – August 19, 2019 Global card payments group Visa is critical of the Indian government’s decision to boost adoption of electronic payments by requiring banks and card payment networks to offer no-fee debit card transactions, a senior Visa executive said. Last month, India’s Finance...