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• VeriFone and PayPal team up

  • Payment Industry

  October 26, 2010

  According to a TechCrunch post, VeriFone has announced that its PAYware Mobile App will be enhanced to support PayPal’s merchant acceptance application using VeriFone’s encrypted card reader for the iPhone.  Also, the PAYware Mobile App will be enhanced to support PayPal Bump technology that enables iPhone users to bump their phones together to transfer money between them.  In addition, PAYware Mobile will offer integrated transaction reports for PayPal and traditional card payments. 

  For more on PAYware Mobile, the iPhone reader and service plan pricing visit: http://verifone.merchantrates.com/verifone.aspx more

• Bank Challenges Constitutionality of Interchange Regulation

  • Merchant Rates
  • Payment Industry

  October 17, 2010

  As part of the Dodd-Frank financial reform bill, the Durbin Amendment mandates the Fed to regulate debit card Interchange. TCF National Bank filed a federal lawsuit alleging the Durbin Amendment is unconstitutional in violation of the Due Process Clause of the Fifth Amendment and the Equal Protection Clause of the Fourteenth Amendment.

  The Fed is to release a draft of its Interchange rules by January 2011, and issue final rules no later than March 20, 2011. The bank is seeking to stop enforcement of any Interchange rules until the case can be heard. Once the rules are established, others may also initiate lawsuits against the validity of the Amendment.

  This litigation may go on for years; with an ultimate decision likely being made in the U.S. Supreme Court. Until then, we may not see … more

• MerchantRates wins 2010 Small Business WebAward

  • Merchant Rates
  • Press Release

  October 09, 2010

  

  Vantage Card Services was awarded the 2010 Small Business Standard of Excellence WebAward for its MerchantRates.com site. 

  The Web Marketing Association is the producer of the WebAward Competition.  Now in its 14th year, the WebAwards is the premier annual website award competition that names the best Web sites in 96 industries while setting the standard of excellence for all website development.  Entries were judged on design, copy writing, innovation, content, interactivity, navigation, and use of technology.

  MerchantRates.com provides instant merchant Interchange rate quotes and merchant applications.  MerchantRates.com also provides educational resources, best practice guides and helpful frequently asked questions and answers.  more

• VantageB2B adds Level 3 Merchant Services Video

  • Payment Industry
  • Trade Credit

  October 06, 2010

  VantageB2B (http://vantageb2b.com) has added a three minute video presentation to help business-to-business and business-to-government enterprises learn more about Level 3 merchant services for accepting corporate, business, purchasing and GSA purchasing cards.

  more

• MasterCard and Visa Settle Antitrust Case

  • Credit Card News
  • Payment Industry

  October 04, 2010

  Visa and MasterCard have agreed to new changes that will allow merchants greater flexibility to steer their customer’s payment choice.

  The Dodd-Frank financial regulations signed into law in July allow merchants to set a $10 minimum card purchase. Now, announced in a Justice Department consent decree, Visa and MasterCard have agreed that merchants can:

  Offer consumers an immediate discount or rebate or a free or discounted product or service for using a particular credit card network, low-cost card within that network or other form of payment;

  Express a preference for the use of a particular credit card network, low-cost card within that network or other form of payment;

  Promote a particular credit card network, low-cost card within that network or other form of payment … more

by Ty Hardison

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