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Merchants Payments Coalition

Welcome to the News View for "Merchants Payments Coalition".

Here, on these archive pages, you'll find all of the articles on Payments News for Merchants Payments Coalition listed in date sequence beginning with the most recent article at the top of the page.

Click here for a complete listing of what's available in the Payments News Archive - organized by both posting date and subject category.

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September 26, 2011

October 22, 2010

Sears Expands Payment Methods to Support Installment Payments

sears_logo_140px.pngSears has added yet another new payment option to its existing suite of financing solutions – the Sears Monthly Payment Plan. The new plan offers a more controlled form of borrowing for shoppers who want to avoid unexpected finance charges. The basic terms are 48 equal payments on purchases over $750, with APRs as low as 12.99%, subject to credit approval. Financing is provided by GE Money Bank.

September 02, 2010

DRF Survey Reveals Top Three Concerns of Payment Professionals

survey_graphic.pngThe Direct Response Forum (DRF) has released survey results from this years annual event held in Memphis in August. The merchant survey showed interchange fees the #1 concern of payment professionals (57% of the respondents), CNP Chargeback Rules are #2 concern, and PCI compliance the #3 concern. The DRF is a forum for CNP merchants; this year event attracted 420 payment professionals that collectively represent billions of dollars in card-not-present credit and debit card transactions every year.

February 09, 2010

A Look at Accepting Credit Cards on iPhones

In an article titled "iPhone credit card swipe war heats up", Jessica Bruder writes for CNNMoney.com about several new approaches to enable iPhones to become point-of-sale devices for payment card acceptance: Square, VeriFone Payware Mobile, and Mophie - among others.

Bruder writes: "They're battling each other for the hearts -- and wallets -- of mobile merchants, promising an improvement over the clunky, hardwired credit card terminals that have been a staple of brick-and-mortar commerce for decades."

December 01, 2009

Introducing Square

A few minutes ago, Twitter co-founder Jack Dorsey tweeted about his new company: Square - a new way to accept payments. Checkout his tweets, the new Square twitter tweets and the new Square website. More information about Square is in this TechCrunch article including a video demonstration and an interview with Dorsey..

March 30, 2009

Chase Paymentech, Revolution Money Expand RevolutionCard Merchant Acceptance

Chase Paymentech and Revolution Money, operator of the RevolutionCard payment network, have announced that Chase Paymentech's processing platforms now enable the acceptance of RevolutionCard transactions for online and retail merchants. Revolution Money says it "currently operates the largest PIN-based acceptance network for credit card purchase transactions in the U.S." READ MORE »

March 26, 2009

TSYS Acquiring Solutions Adds Healthcare Provider POS Solutions

TSYS Acquiring Solutions has announced partnership agreements with mPay Gateway and Nova Libra to provide point-of-sale payment solutions that meet the needs of healthcare providers and their patients, as well as pharmacies and drug stores. READ MORE »

May 15, 2008

Merchants Welcome Judiciary Committee Hearing on Interchange Fees

In a press release, the Merchants Payments Coalition says that "merchants welcome encouragement from Democrats and Republicans alike in support of HR 5546, the Credit Card Fair Fee Act, bi-partisan legislation that would end credit card industry price fixing, which is the subject of a hearing today by the House Judiciary Committee Antitrust Task Force." READ MORE »

May 05, 2008

PaySimple Introduces Small Business Payment Processing Center

PaySimple has announced the availability of PaySimple 2.0 that the company says 'helps small businesses bridge the technology gap, and to grow with the efficiency and cost-savings that large companies have, but with the customization and personal touch that small companies need.' With PaySimple Solution 2.0's Payment Processing Center, users have the ability to electronically collect payments via eCheck/ACH or credit card as well as pay their vendors via those channels from one system. READ MORE »

April 16, 2008

Merchant Link Sees Continued Growth of TransactionVault

Merchant Link has announced that it has seen a significant increase in the adoption of its credit card payments security product, TransactionVault, by quick service, casual and table service restaurant organizations nationwide, including Perkin's, Zaxby's, Famous Dave's, La Madeline, and Ruth's Chris Steak House. READ MORE »

March 06, 2008

More Retailers Welcome Antitrust Legislation on Interchange Fees

The Merchants Payments Coalition (MPC) has issued a press release favoring the legislation introduced today dealing with interchange fees. From the press release: "Today House Judiciary Committee Chairman John Conyers (D-MI) and Rep. Chris Cannon (R-UT) introduced the "Credit Card Fair Fee Act," legislation that for the first time deals with the biggest credit card fee of all - the interchange fee, which grew to $36 billion in 2006."

READ MORE »

July 16, 2007

Merchants Payments Coalition Focuses on Interchange Fees

The Merchants Payments Coalition has begun running a series of advertisements in Washington newspapers in anticipation of a hearing on interchange fees scheduled to be held Thursday by the House Judiciary Committee's Antitrust Task Force.

READ MORE »

April 18, 2007

Shift to Premium Credit Cards Increases Merchant Interchange Concerns

The Merchants Payments Coalition says that "increases in credit card interchange rates announced by Visa last week average only 0.6 percent, but the $36 billion in total interchange fees consumers paid in 2006 will probably increase close to 20 percent this year" because of the movement of cardholders to premium credit cards that have higher interchange fees associated with them.

READ MORE »

February 13, 2007

Merchants Complain About Card Association Interchange Valentines

The Merchants Payments Coalition has announced that it views Visa, MasterCard and their affiliated banks as receiving a "one-day Valentine gift of $169 million this year because of hidden "interchange" fees collected on
transactions during the holiday."

READ MORE »

February 06, 2007

Merchants Say US Consumers Support Interchange Fee Disclosures

According to the Merchants Payments Coalition and a poll they commissioned, US consumers "overwhelmingly believe that Visa and MasterCard should disclose the $30 billion in hidden "interchange" fees they charge each year and consumers want Congress to do something about it."

READ MORE »

January 31, 2007

US Merchants Welcome EU Report, Pressures On Interchange

The Merchants Payments Coalition issued a press release today welcoming today's release of a European Union (EU) policy report that calls for closer scrutiny of competition in the European retail banking sector.

READ MORE »

January 25, 2007

Merchants Applaud Congressional Call for Disclosure From Credit Card Industry

The Merchants Payments Coalition (MPC) Legislative Committee Chairwoman Jennifer Hatcher today issued the following statement based on comments from Senator Christopher Dodd (D- CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, at this morning's Hearing titled "Examining the Billing, Marketing, and Disclosure Practices of the Credit Card Industry and Their Impact on Consumers."

READ MORE »

November 13, 2006

Merchant Payments Coalition Speaks Out Re: Interchange Fees

The Merchants Payments Coalition issued a press release today saying that "an independent new report confirms that "merchants get nothing" out of programs that constitute nearly half of the $30.7 billion in credit and debit card interchange fees Visa and MasterCard collect annually in the United States."

READ MORE »

October 19, 2006

Merchants Respond to Visa's Release of Default Interchange Rates

Mallory Duncan, chairman of the Merchants Payments Coalition (MPC) and senior vice president and general counsel at the National Retail Federation, issued a statement yesterday following Visa's posting its interchange fees on its web site.

READ MORE »

July 27, 2006

Retailers Say Visa and MasterCard Violate Antitrust Laws

AccountingWEB.com reports on last week's testimony by attorney W. Stephen Cannon, representing the Merchants Payments Coalition, to the Senate Judiciary committee accusing Visa and MasterCard of violating federal antitrust laws through their practice of setting the interchange rates charged by banks to complete consumer transactions.

June 16, 2006

Merchants Welcome Investigation Into Interchange Fees

The Merchants Payments Coalition has announced that it "welcomes the decision of Senate Judiciary Committee Chairman Arlen Specter, R- Pa., to investigate credit card companies and their anti-competitive fee- setting practices in a hearing to be held later this month."

READ MORE »

May 02, 2005

Merchants Welcome Fed Conference on Credit Card Fees

The Merchants Payments Coalition today issued a press release applauding the Federal Reserve Bank of Kansas City for holding a conference on credit and debit card interchange fees later this week. The conference on interchange rates is scheduled for May 4-6 in Santa Fe, New Mexico.

READ MORE »

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