Merchants have been challenging surcharge bans in numerous states on free-speech grounds. They have the wind at their backs following another court victory on Wednesday. ... Read full article
Companies like Visa and Mastercard make decisions about security in secrecy, without enough input from banks and merchants. ... Read full article
Long-time CEO grew M&T Bank into a $120 billion regional lender; Jim McCarthy, a high-profile manager, didn’t inform company about relationships. ... Read full article
Digital currency surges past both $12,000 and $13,000 on Wednesday; the bank may make it back quickly, depending on the corporate income tax rate. ... Read full article
America’s largest lenders made an epic mistake a decade ago when they cashed out of Visa and Mastercard through initial public offerings, says Chenault, who will step down in February as CEO of American Express. ... Read full article
Brian Johnson joins agency as senior adviser to acting director Mick Mulvaney; CME and Cboe are expected to begin trading bitcoin futures in the next few weeks. ... Read full article
German bank says the $220 million settlement closes the book on its Libor-related misdeeds; reopening mandatory arbitration could backfire on banks. ... Read full article
In a surprise move, the Supreme Court will decide whether Amex may bar merchants from steering customers to less expensive card networks. The card issuer will have to prove the consumer gain from its practices outweighs the merchant pain. ... Read full article
New entrants don’t pose a disruptive threat to the incumbent cohort of issuers, credit card networks and acquirers primarily because the incumbents — Visa, Mastercard and First Data — are prepared to compete in all segments of the market. ... Read full article
Why choose a former Visa chief to run a custody bank? Because to survive long term, Bank of New York Mellon will have to look more and more like a payments company. ... Read full article
The Wall Street Journal enumerates the reasons why President Trump needs to fire the CFPB director; the bitcoin market is sharply divided over whether it’s a currency or a store of value. ... Read full article
The Trump administration is stepping away from the government’s 7-year legal fight with Amex that centers on retailers’ right to encourage the use of particular cards. The decision is good news for issuers of credit and debit cards, though it is hardly the ... Read full article
U.S Bank’s commercial Visa card customers can now use their smartphones to make corporate payments via Apple Pay, Android Pay or Samsung Pay. ... Read full article
India's sudden shakeup of its currency system last fall was an early holiday for digital payment companies, and Visa was no exception. ... Read full article
