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What is the Durbin Amendment for Payments in the USA?

Clearly Payments

financial system since it began in 2010. Named after its chief advocate, Senator Richard Durbin , this legislative moved was designed to fix the increasing interchange fees charged by banks for debit card transactions. Prior to the Durbin Amendment, merchants would typically see debit card fees as 2% plus $0.40

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Hyperwallet Adds Visa Direct To Payout Methods

PYMNTS

payees to transfer their earnings onto an existing Visa debit card. Additionally, Hyperwallet anticipates that payees will be able to transfer global payment disbursements onto Visa debit cards issued outside of the U.S. Visa can also transfer funds to non-Visa branded debit cards. in Q1 2017.

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A Guide to Bad Check Collection

Payment Savvy

Even though ATMs, mobile banking, and credit card payments are part of our everyday life, some people still write checks. For others, they take advantage of the processing lag-time to give a few extra days to receive the money they are writing the check against. So as a business owner, how should you handle bad checks?

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FTC Refunds $12M To Consumer Victims Of Bogus Online Trial Memberships

PYMNTS

The FTC alleged the Utah-based company operated deceptive trial memberships and bogus government grant and money-making schemes in 2010. I Works asked consumers to provide their credit or debit card information to pay a $1.99 shipping, handling or processing fee. The FTC said the average refund is $86.

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Innovative Ecosystem Draws FinTech Firms To Toronto

PYMNTS

Clients, in turn, receive debit cards and can move money through mobile check deposit, wire, BillPay and automated clearing house (ACH). that let them deposit cash and checks. Bensoussan says it only takes a few minutes to onboard a bank account compared to other options, which can take days or weeks.

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FTC Awards $9.7M To Credit Card Billing Scam Victims

PYMNTS

Victims of an illegal credit card billing scam have started receiving checks from the Federal Trade Commission. The FTC said it has begun mailing checks, amounting to $9.7 According to the FTC , the average check will be about $30 and is the result of a lawsuit the FTC filed against the company in 1999. billion.

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Merchant Account Benefits for your Business

Payment Savvy

Nowadays, consumers are increasingly making purchases using credit and debit cards. Merchant accounts act like intermediaries allowing a business to accept credit and debit cards in-person and remotely. With a merchant account, you can be able to accept credit and debit card payments. Customer Satisfaction.