Payments, ATMs, Cards: Five Things I Know I Don’t Know…Sorta

[Originally published on LinkedIn November 4th, 2014] 1. ‘Will EMV at ATMs be ‘ready’ in the United States before the liability deadlines?’ Maybe. The domestic liability shifts (remember that the liability shift for inter-regional Maestro ATM transactions actually went into effect on April 19, 2014) for MasterCard are scheduled for October 2016. Visa’s liability shift

Duck, Cover, and Move Forward: The Card Brand Battle Rages On

Discover Offers Discount to Banks in Bid to Gain on Visa, MasterCard “The reduced pricing for Discover’s signature debit card network will apply to the more than 4,000 banks that are members of the American Bankers Association.” It’s funny….when VISA or MC has done this publicly with banks and merchants in the past, they were

From Russia…with No Love for MC or Visa

This’ll be interesting to watch.  While Visa and MasterCard are brushing the percentage of income that they derive from Russian card usage (interchange and processing fees)…it could set an ugly precedent for other countries to try to do this.  And you thought Durbin was going to negatively impact your FI’s bottom line.  Wait till Visa

The Durbin Dog ‘n Pony Show Continues Despite Latest Ruling

Soapbox time….well a short rant at least .  Reading the latsest ATMMarketplace article on the recent Fed ruling on the Durbin interchange case, and I thought I had been timewarped to 2007, and then transported to Australia.  Why?  The NACS and NRF taking a page from the Australian merchants’ play book of stating that Durbin “has

Durbin…the myth of lower costs to consumers continues, and still we wait

Since the original smoldering of the 2008/2009 financial implosion gave fuel to the Dodd-Frank movement, the whispers of a grand attack on processing interchange were heard, and culminated in the infamous Durbin Amendment. A short sighted, reactionary, and fear mongering attack propelled by bad data, a sense of ‘financial unfairness’, angst towards the financial sector,