Merchant

The Reserve Bank of Australia has launched a review of the country’s credit card surcharging practices after receiving complaints that retailers were assessing fees well in excess of their card-acceptance costs.

China UnionPay customers now may use their cards in Peru under an agreement the card company signed last week with Lima-based Interbank Ltd., a spokesperson from the card company tells PaymentsSource.

Ukash, a United Kingdom-based firm that sells prepaid vouchers for online shopping, is expanding the product’s functionality and giving users the option to transfer unused funds to an account accessible with a MasterCard-branded prepaid debit smart card.

Telefónica UK, Vodafone UK, and T-Mobile and Orange parent Everything Everywhere plan to form a joint venture in mobile marketing and payments, the companies announced June 16.

The Federal Reserve’s proposed cap on debit fees is “discriminatory,” because it singles out the nation’s biggest banks and credit unions, so should be barred from being finalized, lawyers for Minnesota’s TCF Bank told a federal appeals court yesterday.

MasterCard Worldwide is making headway in the use of its PayPass service by embedding the contactless chips in wristbands distributed at festivals and other events.

MasterCard Worldwide is making headway in the use of its PayPass service by embedding the contactless chips in wristbands distributed at festivals and other events.

JPMorgan Chase & Co. on June 17 will roll out a second EMV card, expanding its target audience for the higher-technology card to a broader consumer base from elite international business travelers.

Heartland Payment Systems Inc.’s merchant clients could save up to $2,000 annually as a result of pending limits on debit card interchange fees, an executive at the processing company said June 16.

Intuit Inc. is among various vendors that could feel a shock from the emergence of Near Field Communication-powered mobile-payment schemes such as Google Wallet and Isis designed to eclipse banks’ existing, more-pedestrian offerings, such as online and mobile bank-account management.