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Found 2 items · updated 12:21 AM
Oct 17Sat
  1. Payments DiveSource summary71

    Visa and Mastercard urge court to approve swipe fee settlement

    Visa and Mastercard filed a joint response with the court, urging approval of a swipe fee settlement involving more than 12 million merchants. The final approval hearing is scheduled for November 16. The agreement would reduce credit card interchange fees by 10 basis points, set a 1.25% rate for standard consumer cards, and allow merchants to decline some high-fee Visa and Mastercard premium and commercial credit cards. Walmart and several merchant groups oppose the proposal, while Visa and Mastercard said the objections repeat arguments the court previously rejected.

    推荐理由：The filing presents the settlement’s rate adjustments, merchants’ right to decline some high-fee cards, and the main opposing parties, helping explain the litigation’s impact on merchant costs and card network rules.

Oct 12Mon
  1. Payments Cards & MobileSource summary74

    Mastercard to introduce offline payment requirements for bank cards in Europe

    Starting in February 2027, Mastercard will require newly issued credit and debit cards in Europe to support offline payments, and from May will require new and replacement terminals at key retailers to support the functionality. When there is no network connection, terminals can locally approve transactions within a maximum limit of €200 based on spending parameters preset by the card issuer in the card’s chip; once the connection is restored, the transactions will be submitted for clearing. The feature applies to essential spending scenarios including supermarkets, grocery stores, gas stations, pharmacies, and travel or ticketing terminals.

    推荐理由：Offline transactions are approved locally by the chip based on parameters preset by the card issuer, then submitted for clearing once the connection is restored. The article also lists the phased implementation dates for bank cards and key retail terminals.