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Proving that politicians should stay out of industries they do not understand and further backing up the law of unintended consequences, Europe’s politicians are currently considering final changes in the proposed Interchange Fee Regulation. One of these changes could allow three-party cards to gain a greater share of Europe’s market. This risks making the most expensive types of [...]
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GlobalCollect, an Ingenico Group company, and UnionPay International, a subsidiary of the global payment network China UnionPay,have unveiled a worldwide partnership that sees GlobalCollect become a worldwide acquirer for the UnionPay network. UnionPay is the number one international card brand in the world measured by the number of cards issued. With the agreement, GlobalCollect can [...]
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Discover Financial Services is suing Visa Inc , alleging the largest cards company has been using anti-competitive practices in its debit card business, and sought compensation for lost profit, court documents showed. Discover, through its Pulse Network LLC unit, alleges that “in order to maintain its monopoly, Visa has undertaken a series of illegal actions that undermine competition [...]
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Bitcoin has a long road ahead before merchants widely accept the currency, but bitcoin acceptance is expanding and accelerating. Silk Road, the illicit online black market, was an infamous early adopter of bitcoin, taking advantage of the currency’s anonymity. The U.S. FBI forced Silk Road to shut down in October 2013. Since then, many legitimate [...]
An industry that was non existent a mere 12 months ago is flourishing and profitable, according to Bitcoin ATM pioneers, Lamassu. Internal Lamassu surveys show that standard cash-to-Bitcoin ATM locations are averaging $20,000 worth of transactions per month, whereas prime locations are averaging $40,000 – $60,000 per month. With an average commission of 5.5%, operators [...]
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