Overview Square Inc., a payments processing company led by Twitter CEO Jack Dorsey, went public yesterday. Despite the company’s weak financials dominating headline coverage over the past few days, technology-focused firms such as Square continue to grow in market...
Federal Judge Richard Leon’s decision to overturn a U.S. Federal Reserve rule on debit card interchange fees charged by banks represents a victory for retailers, and will likely force the Fed to reduce such fees. Leon ruled that the Fed did not do an adequate...
Beginning January 27, 2013, merchants in the United States and U.S. Territories will be permitted to impose a surcharge on consumers when they use a credit card. Historically Visa has not permitted retailer surcharging, but allowing surcharging was a key provision...
ECS is now offering SparkBase’s Paycloud mobile wallet and loyalty application. This program launched recently with more than 3,000 merchants. Paycloud transforms iPhones and Android smartphones into mobile wallets that enable loyalty rewards and deliver merchant...
In response to complaints about problems implementing a new federal law requiring acquirers to report merchants’ electronic payment transactions, the Internal Revenue Service delayed the penalty provisions and withholding requirements for a year, until Jan. 1, 2013....
