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Spending tops $20 trillion on global card networks in 2016 – Infographic
Global card purchase volume for goods and services, which excludes cash advances on credit cards and cash withdrawals on debit cards across the global card networks, grew by 5.8% to $20.606 trillion in 2016, according to The Nilson Report. UnionPay debit cards were the most popular payment product based on purchase volume, followed by Visa [...]
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US government loses legal challenge to overturn AmEx antitrust case
A federal appeals court has rejected the US government’s AmEx antitrust case request that it reconsider its decision allowing American Express to stop merchants from encouraging customers to use rival cards that charge lower fees. That reversal by a three-judge panel allowed AmEx to block merchants that accept its cards from steering customers to rivals Visa [...]
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AmEx enhances fraud prevention capabilities with InAuth acquisition
American Express has acquired InAuth, a mobile device authentication and intelligence solutions provider of fraud prevention. InAuth’s technology is used by some of the largest financial institutions, banks, payment networks and merchants to reduce risk and help identify potential fraud utilizing its mobile-first device authentication capabilities. The acquisition complements and enhances American Express’ comprehensive data [...]
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AmEx update US fraud policies to limit EMV chargebacks
In an effort to promote further adoption of EMV in the US, American Express announced changes to its EMV chargeback policy to help merchants limit their fraud costs as they upgrade their POS systems. By the end of August 2016, merchants will not be held liable for chargebacks for counterfeit fraud when a transaction is under [...]
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AmEx launches Quick Chip for EMV card transactions at POS
American Express has announced the availability of Amex Quick Chip, a technology that enables merchants to provide a more seamless experience at the point of sale for Card Members when they pay with their EMV chip cards. Amex Quick Chip is available to merchant processors, which may deploy the service to interested US merchants through a [...]
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