An appellate court today rejected the settlement in which Visa, MasterCard and credit card-issuing major banks agreed to pay $6.05 billion to settle a long-running lawsuit by retailers alleging the violation of antitrust laws in setting credit card interchange fees.
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ABA — through its Corporation for American Banking subsidiary — announced today that it has endorsed Rippleshot’s automated card compromise detection platform.
Outstanding credit card balances could reach $1 trillion by the end of 2016, according to a CardHub study released last week.
New credit card accounts rose 16.3 percent year-on-year in the fourth quarter of 2015 to total 80.3 million, according to the latest edition of ABA’s Credit Card Market Monitor released today.
Visa today announced the launch of Quick Chip for EMV, a technology enhancement designed to speed up EMV card authorizations to two seconds or less and allow shoppers to dip and withdraw their cards instantly — just as they do with magstripe cards.
After a yearlong suspension while it updated its submission system, the Consumer Financial Protection Bureau will resume accepting the card agreements that issuers are required to submit to the bureau.
Six months after the EMV card fraud liability shift, more than four in 10 retailers have not updated terminals in any of their stores, and an additional quarter of retailers have completed updates of less than half of their terminals, according to a survey by the website CardHub.
New credit card accounts rose 16.5 percent year-on-year in the third quarter of 2015 to total 78.9 million, according to the latest edition of ABA’s Credit Card Market Monitor released today.
Nearly all U.S. adults are aware of EMV transition, while 7 in 10 already have a chip card in their wallet.
Adoption of EMV chip technology among both retailers and consumers grew exponentially in 2015, according to new data from Visa.