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Payment Systems Merchants

Sheppard Mullin Richter & Hampton LLP

Swipe Fee Showdown: Illinois Passes Novel Payments Law

Illinois has become the first state to enact restrictions on credit and debit card interchange fees – commonly known as swipe fees – linked to taxes and gratuities. The Interchange Fee Prohibition Act (the “Act”), embedded as...more

Sheppard Mullin Richter & Hampton LLP

FTC Notifies Online Marketplaces of Obligations Under INFORM Act

On June 20, the FTC announced that it has sent letters to 50 online marketplaces nationwide notifying them about their obligations to comply with the new Integrity, Notification, and Fairness in Online Retail Marketplaces...more

McDermott Will & Emery

[Webinar] PCI DSS 4.0: Timelines and Initial Preparation Steps Required for Your Business - February 1st, 12:00 pm - 1:00 pm EST

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Last year, the Payment Card Industry Security Standards Council released version 4.0 of its Data Security Standard (PCI DSS 4.0). The new version, which brings major changes to the payments ecosystem and compliance...more

BCLP

FRB Action Brings Lower Costs to Merchants for Online Debit Card Transactions

BCLP on

The purpose of the Durbin Amendment was to lower merchants’ costs of accepting debit cards for customer payments. Up to now, because of technology limitations, online merchants were not provided lower cost debit card...more

McDermott Will & Emery

PCI DSS 4.0 Introduces Transformational Change: New Risk Analysis, Governance Requirements and Alternative Customized Approach

On March 31, 2022, the Payment Card Industry Security Standards Council released version 4.0 of its Data Security Standard (PCI DSS 4.0). The new version—which brings major changes to the payments ecosystem—places an...more

Arnall Golden Gregory LLP

Colorado Opens the Door to Surcharging: Five Key Takeaways

On Friday, July 9, 2021, Colorado’s governor signed a new law changing Colorado’s status from one of the few states that bans surcharging to one that expressly permits it. Colorado Revised Statute § 5-2-212—which takes effect...more

Arnall Golden Gregory LLP

Court Declares Kansas Surcharging Ban Unconstitutional

On February 10, 2021, legislation was introduced to repeal Kansas’s ban on surcharging. A mere two weeks later, a federal judge essentially ensured its end by declaring the statute unconstitutional....more

Arnall Golden Gregory LLP

Merchant, Beware: That Surcharge May Be Illegal

As most consumers know, there is often a fee associated with paying by credit card. That fee, called a “surcharge,” allows the merchant to recoup the additional processing costs associated with accepting card payments. While...more

Pillsbury - Internet & Social Media Law Blog

Banks, Payments and Fintech—Staying Nimble and Customer-Focused during a Pandemic

Recently, Pillsbury’s Deborah Thoren-Peden sat down with a panel of experts that included Millicent Calinog Tracey (former Wells Fargo SVP), Samantha Ettus (founder and CEO of Park Place Payments) and Pillsbury partner John...more

Hogan Lovells

Payments regulatory news, March 2020 #3

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COVID-19: UK Finance increases spending limit for contactless card payments - On 24 March 2020, UK Finance has announced that, from 1 April 2020, it is increasing the spending limit for contactless card payments from £30...more

Ballard Spahr LLP

The Federal Reserve’s Entry into Real-Time Payments

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Real-time payments (RTP) has been the rave of recent payments industry news. With the Federal Reserve announcing that it is about to embark upon the creation of a ubiquitous real-time payments framework, the topic is...more

A&O Shearman

UK Payment Systems Regulator Revises Timeline for Market Review into the Supply of Card-Acquiring Services

A&O Shearman on

The U.K. Payment Systems Regulator has revised the timeline for its work on the market review into the supply of card-acquiring services. The PSR will publish its interim report for consultation in Q1 2020, instead of by the...more

A&O Shearman

UK Payment Systems Regulator Launches Consultation on Supply of Card-Acquiring Services

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The U.K. Payment Systems Regulator has launched a consultation on the PSR's proposed approach to assessing the profitability of card-acquiring service providers for U.K. merchants and consumers. The Consultation Paper may be...more

Latham & Watkins LLP

Payment Systems Regulator to Review Card Acquiring Market on Competition Concerns

Latham & Watkins LLP on

The PSR is to consider whether there is effective competition in the market and makes clear that further reviews of the payments ecosystem could be triggered by its findings - The Payment Systems Regulator (PSR) has...more

BCLP

Credit Cards and the Payment Card Industry Data Security Standard

BCLP on

For most retailers their primary source of revenue comes from credit card transactions. In order to accept credit cards, a retailer must enter into a contractual agreement with a payment processor and a merchant bank....more

Kelley Drye & Warren LLP

FTC Requests Auditors’ Data on PCI Data Security Assessments

Earlier this week, the FTC issued orders to nine credit card and payment security auditors in an effort to gain insight into data security compliance auditing and its role in protecting consumers’ information and privacy....more

Ballard Spahr LLP

Second Circuit Rejects Constitutional Challenge to New York “No Credit Card Surcharge” Law

Ballard Spahr LLP on

A New York state law that prohibits merchants from imposing a surcharge on credit card purchases does not violate the First Amendment or the Due Process Clause, the U.S. Court of Appeals for the Second Circuit recently ruled....more

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