PYMNTS

NOVEMBER 12, 2020

Wells Fargo & Co is seeking to sell its private-label credit card and point-of-sale (POS) financing unit as part of an ongoing strategic review of its businesses. Credit card fees rose $912 million during the third quarter, up from $797 million in the second quarter. Debit card POS purchase volume hit $102.9

Credit Cards 114

Credit Cards Point-of-Sale (POS) Push-to-Card Debit Card 114

Stax

AUGUST 1, 2024

Visa’s surcharge rules around disclosure, compliance, options (brand-level/product-level), notifying acquirers, surcharge cap, etc. In essence, customers need to be fully aware that a credit card surcharge will be applied when they checkout at a point of sale (POS). Earlier, the surcharge cap used to be 4%.

Rules 88

Rules Credit Cards Caps Processors 88

PYMNTS

FEBRUARY 15, 2019

Federal Reserve asset cap on Wells Fargo will last all year instead of through the first half. Sloan was disclosing Q4 2018 earnings , and Wells Fargo also reported single-digit gains in credit and debit cards. The bank also reported general purpose credit card point-of-sale (POS) purchase volume of $20.2

Point-of-Sale (POS) 53

Point-of-Sale (POS) Debit Card Federal Reserve Caps 53

PYMNTS

JANUARY 15, 2019

Federal Reserve asset cap on Wells Fargo will last all year instead of through the first half, said the bank’s CEO Tim Sloan on Tuesday (Jan. Wells Fargo also reported single-digit gains in credit and debit cards. The bank also reported general purpose credit card point-of-sale (POS) purchase volume of $20.2

Credit Cards 46

Credit Cards Federal Reserve Caps Debit Card 46

Stax

DECEMBER 13, 2023

However, in general, surcharge laws state that businesses cannot profit from surcharge fees—they can only use it to offset some or all of the fees they pay to credit card networks and processors. Visa caps the surcharge rate at 3% (Mastercard caps it at 4%) and it can be as low as 2% in certain states (e.g.

Credit Cards 88

Credit Cards Debit Card Laws Rules 88

EBizCharge

JULY 25, 2024

Surcharge Limits: The surcharge cannot exceed a certain percentage of the transaction amount, usually capped at 4%. Equal Treatment: The surcharge must be applied uniformly to all credit card transactions. Prohibited States: Some states, like California and New York, have laws prohibiting credit card surcharges.

Best Practices 52

Best Practices Credit Cards Compliance Debit Card 52

Stax

MARCH 14, 2024

Most B2C transactions are performed at the point of sale (POS), whether it’s eCommerce or in-store checkout, which lends them to faster payment methods like mobile payments more often than B2B transactions. ACH payments take up to three days to process and cost around 1% of the transaction with a $10 cap.

B2B 88

B2B Process B2C Credit Cards 88

PYMNTS

OCTOBER 28, 2019

Merchants of all types are racing to gain an edge so they can increase sales and perhaps breathe easier for a little bit come January. To gain that edge, merchants are increasingly turning to new buy now, pay later solutions at the point of sale (POS). Many retailers have a broad range of AOVs on their sites.

Payment APIs and Integration 43

Payment APIs and Integration Point-of-Sale (POS) Debit Card Caps 43

CB Insights

DECEMBER 4, 2019

To compete, Amazon is investing in product including hiring product managers for devices solutions, which could see Alexa move from the home and office, and into brick-and-mortar or point-of-sale POS. With the card, parents can manage spending limits and allocate funds for their children through a mobile app.

Online and Mobile Banking 101

Online and Mobile Banking Push-to-Card Payment APIs and Integration Non-Bank 101