Appeals Court Resurrects Fed’s Debit Card Swipe Fee Limits

Appeals Court Resurrects Fed’s Debit Card Swipe Fee Limits

In a move that will please banks and annoy retailers, a federal appeals court has overruled a lower court decision on swipe fees — the amount banks charge retailers for each debit card transaction — and revived the previous controversial standards put in place by the Federal Reserve in 2011. [More]

Visa, MasterCard Agree To Let Merchants Add Surcharges To Credit Card Purchases

Earlier this week, we told you that a settlement in a huge lawsuit between merchants and Visa and MasterCard was in the offing and that it could open the door to retailers tacking on surcharges to credit card customers. Well, that proposed settlement has come to pass, meaning you may soon be paying more for the privilege of using your credit card. [More]

Get Ready To Pay Surcharge Every Time You Pay With Credit Card

Get Ready To Pay Surcharge Every Time You Pay With Credit Card

Visa and MasterCard know there is nothing that American consumers love more than fees and surcharges. That’s why the credit card companies are reportedly looking to do away with longstanding rules that prohibit merchants from adding on extra costs to customers who pay with credit. [More]

Intel Wants To Make It Easy (And Safe) To Pay For Purchases By Swiping Your Card Against Your Ultrabook

Intel Wants To Make It Easy (And Safe) To Pay For Purchases By Swiping Your Card Against Your Ultrabook

The big story, in terms of a technology that is here and that consumers seem to actually want, is super-thin Ultrabook laptops that contain Intel-produced processors. And the folks at Intel tell me they don’t just want to provide users with a faster, lighter-weight computing experience; they also want to make it safer and easier to shop online. [More]

McDonald's Exec: Swipe Fee Reform May End Up Hurting Our Bottom Line

McDonald's Exec: Swipe Fee Reform May End Up Hurting Our Bottom Line

A number of the new or increased banking fees, including Bank of America’s scrapped attempt to charge debit card users $5/month, that have popped up recently have been financial institutions’ reactions to recently enacted regulations that cap swipe fees — the amount banks charge retailers each time a debit card is used to make a purchase. While the goal is to put billions back into retailers’ coffers, some of the nation’s biggest chains say it may end up hurting them. [More]