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November 22, 2011

NRF and Other Groups File Lawsuit Against Fed Over Durbin Amendment

NRF logo 140 The National Retail Federation, the Food Marketing Institute, the National Association of Convenience Stores and two retailers announced they have filed a lawsuit in federal court saying the Federal Reserve failed to follow the Durbin Amendment to the Dodd-Frank Act of 2010.
“The Federal Reserve was required by law to come up with swipe fees that were ‘reasonable’ and ‘proportional’ but what we got were neither,” NRF Senior Vice President and CEO General Counsel Mallory Duncan said. “Instead, the Fed allowed themselves to be influenced by the very banks they are supposed to regulate and raised the originally proposed cap to include expenses the law said were not allowed. In doing so, they literally gave away half the savings that could have been seen by merchants and their customers. We want them to go back and follow the law this time.”

MasterCard and Telefónica Create Mobile Joint Venture in Brazil

MasterCard logo 140pxMasterCard and Telefónica have announced they are forming a joint venture to offer mobile financial solutions for 65 million Vivo consumers in Brazil. "The initiative will create a mobile wallet allowing consumers to make payments via their mobile phones as well as transfer funds, pay bills and make online purchases."

WorldPay and Diners Club Expand Acceptance Partnership in Europe

Diners club logo 140x60pxWorldPay and Diners Club International (DCI), a business unit of Discover Financial Services, have announced the signing of a merchant acquiring agreement that will increase the acceptance of Discover and Diners Club cards in the U.K. "WorldPay will build on its current relationship by adding Diners Club and Discover as standard options to its portfolio of payments processing services beginning in early 2012, in time for the summer Olympic Games in London."

November 21, 2011

Shopkick Rewards Visa Cardholders When and Where they Shop

Visa logo 60pxh Visa and shopkick have announced that cardholders can now qualify for valuable rewards just for paying with Visa.
Shopkick now lets mobile users earn more redeemable kicks by choosing to link their eligible Visa debit or credit card into its new Buy & Collect program and then making qualifying purchases at participating shopkick merchants with the linked card. Shopkick users have the option to earn more rewards while shopping in their favorite stores and merchants can increase sales and better measure the effectiveness of their location-based marketing efforts.
Through Visa’s real-time messaging platform, shopkick merchants can also offer Visa cardholders rewards visiting and browsing in a store, as well as making qualifying purchases while they are in the store.

Chase and British Airways Unveil Airline Co-Brand Card with EMV

Chase logo 140px Chase and British Airways have announced that EMV chip-with-signature technology is now available on the British Airways Visa Card.
“The addition of EMV chip-with-signature to the British Airways Visa Card offers cardmembers a higher level of convenience,” said Naney Pandit, general manager, Chase Card Services. “Since most of our cardmembers frequently travel abroad, we want to provide them with benefits that make them feel right at home, no matter where they are. Cardmembers can now use the British Airways Card at any chip-enabled, point-of-sale device, such as train ticket kiosk, restaurant or gas station.”

PaymentOne Introduces PayOne Mobile SDK for Android Developers

PaymentOne logo 140px PaymentOne has announced the availability of its PayOne Mobile SDK with Android One Click API.
By adding the simple Android One Click API from the PayOne Mobile SDK in their code, Android developers can begin making money from app downloads and in-app purchases made over the PaymentOne network, spanning more than 70 countries and 3.5 billion consumers. PaymentOne pioneered direct carrier billing and no-credit-card-required payments, and has been innovating simple user experiences that deliver secure "fraud-proof" transactions for more than a decade.


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