Payments News Update – March 27, 2026
Legal and Regulatory Developments
SPOTLIGHT: The Card Industry’s Endless War
Digital Transactions Magazine – March 17, 2026
Talk about a forever war. After more than 20 years of legal wrangling and rejected settlement offers, no end appears to be in sight for merchants’ ongoing battle against Visa Inc. and Mastercard Inc. over interchange fees.
The latest offer from the defendant card networks, which includes temporary interchange caps, changes to their honor-all-cards rule, and a higher cap on any surcharges that might be levied by merchants, was rejected by plaintiff merchants in November. A final hearing will be held to approve or reject the offer, after hearing oral arguments over merchants’ objections.
The latest offer was crafted after Judge Margo Brodie, who was overseeing the case at the time, in June 2024 ordered defendants to revise a settlement offer without giving it preliminary approval. U.S. District Court Judge Brian Cogan has since been assigned to the case. . . .
New York Requires Retailers to Accept Cash Payments
PYMNTS – March 23, 2026
New York Attorney General Letitia James reminded New Yorkers Friday (March 20) that a new law requires stores throughout the state to allow customers to pay in cash.
While sharing this reminder in a consumer alert, James also invited New Yorkers to submit a complaint to the Office of the Attorney General if they believe a store is violating the law.
“Businesses cannot deny New Yorkers access to necessities like food and clothing by refusing to take cash, or charging shoppers more for paying in cash,” James said in the alert. “I will not hesitate to enforce this law to protect consumers across our state.” . . .
EU Cash Payments Rules Raise Concerns Among Retailers
Retail Insight Network – March 24, 2026
European retail and wholesale organisations have urged policymakers to introduce exemptions to proposed EU cash payments regulation, warning that mandatory cash acceptance could raise costs, increase security risks and disrupt digital retail models.
In a joint statement published by EuroCommerce and allied industry groups, merchants said they support continued access to cash payments across the EU.
However, they argue that a “proportionate” framework is needed as digital payments continue to grow and cash usage declines across everyday transactions. . . .
Industry Developments
SPOTLIGHT: 13 Years On, Surcharging Remains Complex for Acquirers
Digital Transactions News – March 23, 2026
It’s been 13 years since merchants were allowed to add surcharges to cover much of their credit card processing costs, yet confusion and complexity remain. Speakers at the Transact 2026 conference last week, sponsored by the Electronic Transactions Association, did their part to dispel much of this confusion.
“Surcharging is a term of art in payments, and it really depends on who you are asking,” said Theresa Kananen, a partner at the Arnall Golden Gregory LLP law firm. A card network has one view of surcharging while state regulators typically have another view, she said.
The card networks have detailed rules about surcharging, such as disclosing the fee via signage to consumers and caps on how much can be surcharged. . . .
Stablecoin Use Surges
Payments Dive – March 20, 2026
The use of stablecoins more than doubled just in the last year, according to an assessment from asset management firm Macquarie Group.
The total value for stablecoin transactions across the globe climbed from $668 billion in February 2025 to $1.78 trillion last month, according to data provided by Macquarie, which was published last week.
“The activity in stablecoins has been growing and growing, signaling to us that stablecoin is actually evolving into a meaningful economic tool in both crypto and real world corridors,” said Paul Golding, a senior analyst for Macquarie. . . .