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C|C Payments Blog

Visa’s Proposed Acquisition of Earthport – A Good Test for Antitrust in the 21st Century

Posted  04/10/19
By Jeffrey I. Shinder
As the 2020 Presidential election begins to heat up, something unusual is happening – antitrust policy is being bandied about as an election issue.  The reason for this is simple.  We live in an era of increasing concentrations of wealth and industrial power.  While the impulse to look at antitrust as part of the solution makes perfect sense, many of the proposals on the table, including the suggestion by one...

Adyen Offers PSD2 Payments to European Merchants, and U.S. Merchants Should Take Notice

Posted  04/10/19
By David Golden
Adyen (Surinamese for "start over again") is a growing Netherlands-based payment platform. Adyen is among the leading providers whose business model is designed to capitalize on the European Union’s Payment Service Directive (“PSD2”), which requires banks to offer application programming interfaces (“APIs”) for third parties to initiate direct bank-to-merchant payments.  The company recently announced a...

Payment News Update - April 10, 2019

Posted  04/10/19
Legal and Regulatory Developments SPOTLIGHT: UK Antitrust Watchdog Probe’s Visa’s £247M Takeover Bid Law360 - April 4, 2019 Britain’s antitrust watchdog said Thursday that it has opened a preliminary investigation into whether Visa’s £247 million ($324 million) offer for payment network Earthport PLC will hinder competition in the U.K.’s cross-border payments sector.  The Competition and Markets...

Does the Apple Card Signal Apple’s Plan to Ultimately Disrupt the Payments Industry?

Posted  04/3/19
By Jeffrey I. Shinder
Apple made big news last week when it announced its entry into subscription services, ranging from news to video streaming services.  Antitrust commentators, justifiably, expressed concerns that Apple might exploit the market power it enjoys via its dominant platform to undermine competition in those industries.  Obscured by the mainstream press attention regarding Apple’s foray into subscription services was...

The Arrival of the China Pays

Posted  04/3/19
By Kristian Soltes
The payments news last week was dominated by Apple, whose CEO Tim Cook promised that its newly introduced Apple Card and its Apple Pay platform will “transform another fundamental method of payment.” But many payments professionals are equally intrigued by the steady unveiling of potentially more impactful disruptors. These disruptors come not from the innovation labs at Cupertino, but from China. Two companies,...

Why the Fed Needs to Offer a Real-Time Payments Alternative

Posted  03/27/19
By Jeffrey I. Shinder
The U.S. continues to be an embarrassing laggard in payments.  While the rest of the developed world spent the last 25 years implementing Chip & PIN to reduce fraud, the United States continued to rely on signatures and magnetic stripes.  That was the equivalent of the world migrating to personal computers, while Americans remained loyal to the typewriter.  Remarkably, while we have begun to use Chip based cards we...

Facebook's Foray into Payments: Revolutionary or More of the Same?

Posted  03/20/19
By Jeffrey I. Shinder
To merchants, the evolution of digital payments was supposed to be a “get out of jail” card that released them from the shackles of the current payment system.  That dream could be reduced to the following proposition - the technology industry could conquer any industry. If anyone could disintermediate Visa and Mastercard and shake up payments, it would be Apple. Facebook, Google, Samsung, or some other tech...

Can Blockchain Introduce Competition in Payments?

Posted  03/20/19
By Jeffrey I. Shinder, Matthew Vaccaro
U.S. merchants' unhappy experience in payments is well known by now.  Take it or leave it interchange rates that are orders of magnitude higher than rates that prevail in other parts of the world.  An increasingly long list of opaquely described network fees, which are also take it or leave it propositions.  Indefensible extensions of the Honor All Cards rules to force merchants that implement contactless...

C|C Payments Weekly News Update

Posted  03/13/19
By Kristian Soltes

March 13, 2019

Legal and Regulatory Developments SPOTLIGHT: The Battle for Real-Time Payments Dominance in the U.S. Finextra - March 11, 2019

Since Fed catalysed the private sector to deliver real-time payment capabilities, there has been advocacy for the central bank backed, real-time payments (RTP) scheme. Many feel the lack of a ubiquitous RTP infrastructure has become a road block to innovation in financial...

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