Visa and MasterCard have blasted an amendment approved by the US Senate that would direct the Federal Reserve to issue a set of rules that would ensure debit card interchange fees are ‘reasonable and proportional’ to the processing costs incurred.
CUP forges a mobile payments alliance
Chinese payment network China UnionPay (CUP) has partnered with a number of commercial banks and mobile phone operators to establish an industry association specifically for mobile payments.
Western Union teams up with Absa Bank
Western Union has teamed up with South Africa’s Absa Bank to offer cross-border money transfers via the internet or mobile phones.
Chase rewards commercial cardholders
The US issuer Chase has rolled out a suite of commercial card solutions aimed at its mid-market corporate client base, which include virtual card issuance and reward programmes for commercial cardholders.
PCI SSC updates PTS security requirements
The PCI Security Standards Council (PCI SSC), the body that manages payment data security standards, has released updated security requirements for the payments industry.
Heartland announces recruitment drive
Payments processor Heartland Payment Systems intends to hire 1,198 sales professionals within the next 18 months.
Consumer confidence in China remains high
Confidence among Chinese consumers is at a high level, according to figures released by the China UnionPay (CUP) Bankcard Consumer Confidence Index (BCCI).
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