What Merchants Need to Know About the Visa / Mastercard Settlement

Though there are multiple class action lawsuits in place against the card brands, the particular litigation addressed in the March 26, 2024, settlement carries industry-wide implications. Per the settlement, Visa and Mastercard have agreed that, interchange rates will lower rates by 4 basis points for the next 3 years.

What does it take to be a successful Merchant of Record?

Many enterprise merchants in recent years, in particular QSR chains and Convenience & Energy Retailing companies, have become the Merchant of Record (MoR) for their franchisees. In an earlier article, we explained what it means to be a Merchant of Record. Here, we’ll explain the profile of companies that might...

When Should a Merchant Be Merchant of Record?

The biggest benefit to becoming the Merchant of Record is the opportunity to optimize payment operations and standardize the customer experience. As technology has evolved, so has the need to optimize transaction flows across channels of commerce, control costs, and improve resiliency.

What Does the New Interchange Legislation Mean For You?

A growing number of states have recently introduced legislation to prohibit charging interchange fees on the sales and excise tax portion of retail transactions. Thus far, there are active bills in the states of Georgia, Florida, Idaho, North Dakota, and Texas, however that number is expected to grow in the...

Keeping an eye on Credit Cards in Congress

Should the CCCA bill pass, there will certainly be available savings on credit card fees from the forced competition, but this will also require significant planning. Adding a second routing option is not as easy as just toggling a switch.

PCI DSS 4.0 looms large  

Merchants need to immediately start understanding what additional budget they are planning to allocate to tackle the increased time and costs necessary to maintain PCI compliance. Even working to find and procure the services of an approved scanning vendor will take time and internal resources.

Is a Payment Orchestration Layer right for your business?

If your business is looking to reduce friction for consumers at checkout, increase payment acceptance, optimize transaction routing, and innovate your payment architecture quickly as you add geographies, currencies, and additions to your payment flow, then a Payment Orchestration Layer is an obvious and necessary addition.

Is PINLess Debit Routing a fit for your payment ecosystem?

Utilizing PINLess debit to decrease cost of acceptance is certainly very enticing, but it also can be a very daunting undertaking.  For some merchants, PINLess debit may mean a full-scale change to POS, reconciliation, and acquirer/gateway message specification and configurations to support this transaction routing.

Should You Be Accepting Cryptocurrency?

As new currencies continue to emerge in the market, the questions that must always steer consumer engagement and technology roadmaps are: what is the impact on consumers who wish to transact for physical goods? What segment of the population are you missing if you don’t move to implement? And does...

Can EMV 3DS 2.0 Benefit Your Organization?

EMV 3DS 2.0, the new standard, allows merchants to perform enhanced consumer authentication via means such as biometric verification or one-time SMS passcodes. Previously, all a fraudster would need to complete a Card-Not-Present transaction is a payment card and zip code. With EMV 3-D Secure pushing a one-time code to...

Verified by MonsterInsights