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Weekly News Update

Payments News Update -- May 22, 2019

Posted  05/22/19
Legal and Regulatory Developments SPOTLIGHT: U.S. May Follow Philly and New Jersey to Ban Cashless Businesses WHYY – May 20, 2019 Earlier this year, Philly and New Jersey passed laws banning cashless businesses, restaurants and retail shops where customers can only pay with plastic or their phones. Now, two Democrats in Congress want the country to follow suit. New Jersey U.S. Rep. Donald Payne,...

Payments News Update -- May 8, 2019

Posted  05/8/19
Legal and Regulatory Developments SPOTLIGHT: Debit Dynamics Digital Transactions News – May 1, 2019 Merchants have said it before, and they’re saying it again: It’s high time the Federal Reserve lowers its regulated debit card interchange rate. The call by the Retail Industry Leaders Association came shortly after the Fed in March released its latest study of debit card revenues and expenses. The...

Payments News Update -- May 1, 2019

Posted  05/1/19
Legal and Regulatory Developments SPOTLIGHT: Factors Align for Widespread U.S. Contactless Payments Adoption, A Fed Study Suggests Digital Transactions News – April 26, 2019 The conditions for the widespread adoption of contactless payments using chip cards are in place, asserts a new report from the Federal Reserve Bank of Boston. But when that will happen and what will trigger it are unknown in the Fed...

Payments News Update -- April 24, 2019

Posted  04/24/19
Legal and Regulatory Developments SPOTLIGHT: The Government's Set a Steep Learning Curve for Crypto Compliance PaymentSource PayThink – April 22, 2019 The market and regulatory forces that fueled a substantial uptick in merger and acquisition activity in the blockchain industry in the U.S. in 2018 are expected to continue through 2019. Cryptocurrency prices remain significantly below their high-water...

Payments News Update -- April 17, 2019

Posted  04/17/19
Legal and Regulatory Developments SPOTLIGHT: Appeals Court Revives £14B Mastercard Class Action Law360 – April 16, 2019 An appeals court in London on Tuesday revived a £14 billion ($18.3 billion) proposed class action lawsuit accusing Mastercard of flouting European Union competition law by charging consumers high credit card fees, in a test of the U.K.’s fledgling class action regime.  The Court of...

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...

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...

C|C Payments Weekly News Update

Posted  03/6/19
By Kristian Soltes

March 6, 2019

Legal and Regulatory Developments

SPOTLIGHT: Will 'Open Banking' Sizzle or Fizzle in the U.S.?

The Financial Brand - February 27, 2019

In the U.S., open banking may not yet be law like it is in the U.K., but its impact will continue to ripple across the pond. Here's how experts say the concept will affect banking providers worldwide, including American institutions.

Open banking allows...

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