article thumbnail

Justice Department Accuses Visa of Hindering Innovation by Monopolising Debit Network Markets

The Fintech Times

Visa is once again in the firing line of the Justice Department as the US administrator files a civil antitrust lawsuit against the payments processor. Visa has been accused of maintaining a monopoly over debit network markets in violation of Sections 1 and 2 of the Sherman Act.

article thumbnail

Should Your Business Go Cashless?

Cardfellow

If you’d like help finding the right credit card processor for your needs, try CardFellow’s free, no obligation quote comparison tool. The company also owns the Interlink and Plus debit network systems, so it would benefit from increased debit usage as well. It’s also worth remembering that accepting cash isn’t free.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

FTC Probing Visa, Mastercard About Debit Card Practices

PYMNTS

The Federal Trade Commission (FTC) is talking to large merchants to discover if some retailers are being blocked from routing digital payments over alternative debit networks, sources told Bloomberg. A 2010 law known as the Durbin amendment — named for Illinois Democrat Sen.

article thumbnail

How Much Are Debit Card Processing Fees

Payment Savvy

When a customer uses their debit card, several parties are involved in processing the transaction: the bank that issued the debit card (issuing bank), the bank that provides the business with card processing services (acquiring bank), and the payment processor. Who’s Charging Debit Card Processing Fees?

article thumbnail

AI for Debit Routing: Saving on Debit Transactions

Cardfellow

In this article, well look at the first one – how AI can help save your business money through debit card interchange optimization. Debit Routing Background The Durbin Amendment and PIN Debit Routing Choosing Debit Networks AI for Debit Routing Which processors offer AI debit routing optimization?

article thumbnail

A Big List of Payment Gateways

Clearly Payments

BitPay: Bitcoin and cryptocurrency payment gateway and processor (International). GoCardless: Global bank debit network for recurring payments (International). Beanstream (now part of Bambora, Canada): Secure payment processing solutions (Canada). Blackbaud Merchant Services: Payment solutions for nonprofits (United States).

article thumbnail

EMV Chip Cards: What You Need to Know About PIN or Signature Cards and How They Work

Stax

When running the debit card “as credit,” the transaction will be charged according to the debit rates noted in Visa and Mastercard’s interchange tables , not according to the debit network fee schedules. In some cases, it’s less expensive for a merchant to accept PIN debit cards than signature debit cards.