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How Visa and MasterCard Shape the Payments Industry

Clearly Payments

Bank of America launched the BankAmericard in 1958, widely considered the first credit card available to consumers, which eventually evolved into Visa. In 1966, a group of California banks formed the Interbank Card Association (ICA), later known as Master Charge and then Mastercard.

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Rule On Money Laundering Loophole Due To Prepaid Cards Could Get Resubmitted

PYMNTS

A proposition back in 2011 to close a loophole that enables drug cartels to move large sums of money across boarders using prepaid cards has been delayed but is not dead. Treasury Department’s Financial Crimes Enforcement Network spokesman Stephen Hudak said the rule is being reworked and could be resubmitted in 2017. In 2009, the U.S.