Analytics

A $5.7 billion settlement by Visa and MasterCard was rejected by an appeals court in New York, potentially renewing years of litigation with U.S. merchants over allegations that credit-card swipe fees were improperly fixed.

Visa Inc. has thrown its counterpunch at Walmart, saying the retailer had previously agreed to accept signature debit transactions in addition to chip-and-PIN transactions at its point of sale terminals.

The approach of many payment and financial services companies to security is still stuck in the 20th century. But luckily, firms of all sizes can choose to travel in time to 2016.

The credit card industry’s switch to microchips is expected to improve security at the point of sale, but fraudulent online purchases remain a big vulnerability.

People and businesses expect access to their money and payments in real-time, and electronic funds transfers such as Fedwire and Swift transfers offer a convenient way to send payments to vendors, clients and partners rapidly.

Chief Technology Officer David Reilly has had to make major reductions in traditional expenses so Bank of America can afford to collaborate with fintech firms that are developing innovative products the bank craves.

Building on industry initiatives to ease the user experience for chip cards and increase use of contactless technology, Oberthur Technologies has developed a dual interface card in the U.S. market that combines new Visa and MasterCard specs and 'tap and go.'

Since consumers find EMV cards frustrating and difficult to use, EMV may do more to promote NFC as the preferred payment method among consumers and business owners.

The major card networks are losing value along with the rest of the stock market in the wake of Britain's historic vote to leave the European Union, but Visa and MasterCard may not face the type of doom and gloom that others endure in the current shaky political and financial situation in the U.K.

Avoiding fraud committed by large-scale criminal organizations using stolen credit cards and botnets or proxy servers can be particularly difficult.