EMC2Blog

The credit card processing world is constantly changing.  Expenses passed onto the banks are going up in some cases and going down in others.  When that happens, they pass those costs (or reduction in costs) to their ISO partners.  In a recent study conducted by The Strawhecker Group (TSG) it was discovered that SSL (internet) …

Department of Homeland Security issued a seizure warrant to Dwolla for the money in Mt. Gox’s Dwolla account related to Bitcoin. Mt. Gox is the leading company in Bitcoin buying and trading and this is the second time this month Mt. Gox has been in the news, first being sued by CoinLab, which claims Mt. …

Visa Europe, Ltd plans to “significantly” reduce the fees it sets for processing cross-border credit card payments in a bid to appease European Union. Visa Europe’s intends to bring its fees in line with MasterCard. Visa Europe also committed to overhaul its rules so that banks will be able to apply a reduced cross-border interbank …

Last week the first legal pay-to-play poker website in the United States was approved for live transactions for a 30-day trial period. Players from across the nation and Europe are logging on as casino companies, tech developers, regulators, and lawmakers study the technology and stress testing the process. Station Casinos, which owns 16 properties in …

AribaPay, the electronic B2B payments solution, launched today (May by Ariba and powered by Discover Network, is reported to “solve the last mile” of B2B payments by offering an “efficient and transparent” way for buyers to pay suppliers.  Checks have been declared dead outside of the US years ago, but they are alive and well …

On May 2nd it was announced that Authorize.net would be available for UK and European merchants processing in Pounds, Sterling, Euros, and USD.  Authorize.net, which is a small business solutions of CyberSource which is owned by Visa, will now allow small business merchants based in the UK to use the popular payment platform to accept and manage …

The FTC has wasted no time enforcing its modified Business Opportunity (“Biz-op”) Rule, which was established in March. In November the FTC filed its first six cases across the country in an effort to crack down on Biz-Ops. A number of the companies had been running for years without hearing from the FTC, however in …

MasterCard has certified a plethora of NFC-enabled smart phones for use with MasterCard PayPass contactless payment technology. The certified devices include: BlackBerry Bold 9790, BlackBerry Curve 9380, HTC One X, Intel Smartphone Reference Device, LG Viper 4G LTE, LG Optimus Elite, Nokia 603, Nokia Lumia 610 NFC, Samsung Wave Y, Samsung Galaxy mini 2, Samsung …

Bank of America’s $5-a-month debit card fee may not happen next year as initially planned due to extremely negative feedback from Bank of America customers.  Reuters, citing “a person familiar with the bank’s plans” says B of A may make it possible for many of their customers to avoid the $5 monthly fee, which has …

Last week Bank of America, the largest bank in the USA, said it plans to start charging a $5 monthly fee to customers who used their debit card for purchases.  This is just the first in line of some expected changes as new regulations limit banks’ profits. Wells Fargo and Chase are testing $3 monthly …