News Topic: Merchant
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Card brands postpone fee hike, but merchants want interchange reform
Mastercard and Visa's one-year delay is only a partial victory for retailers, who want the networks to have less power to set rates. ]] ... Read full article
Banks keep piling credit card fees on retailers. Congress must act.
The fees banks charge to merchants have skyrocketed because people are making more purchases using their credit cards during the pandemic. Lawmakers can cap these fees before they further eat into retailers' profits. ... Read full article
An attempt to make point-of-sale payment devices obsolete
MagicCube’s i-Accept is a hardware-free option for accepting card and electronic payments that could appeal to cost-conscious small businesses and open up a new market for banks that provide them payments services. ... Read full article
Amex hires Wells Fargo's Colleen Taylor to lead U.S. merchant services
American Express hired Taylor to oversee its efforts to entice more U.S. merchants to accept the firm's cards. ... Read full article
Better data is key to beating bias in small-business lending
The increased use of technology, along with holistic data points, can eradicate racial and gender disparity for fintech lenders in small business, says Become’s Eden Amirav. ... Read full article
Contactless payments will miss the boat without 'in time' funding
Digital wallets arguably reached a tipping point this spring when contactless payments jumped 40% in response to concerns that cash and payment terminals were helping to spread the coronavirus, Vidya Peters of Marqeta writes. ... Read full article
As businesses try to recover, it's time for fintechs to get proactive
A spike in demand has led to a bigger emphasis on innovative solutions for the digital payments market. ... Read full article
Coronavirus relief is an opportunity to bridge the digital divide
As the market deals with the short-term challenge of getting stimulus payments into the hands of citizens, the country has a unique opportunity to put unbanked and underbanked citizens on a long-term path to electronic payment methods, says FIS' Jim ... Read full article