Latest Industry News RSS
On June 21 2008 MasterCard took the path of least resistance and temporarily repealed its MasterCard and Maestro intra-EEA cross border consumer card interchange fees to conform with the European Commission’s December 2007 decision. It is continuing with its appeal of that decision to the European Court of First Instance, filed in March 2008. It [...]
Documents recently translated into English contain details of substantial fines imposed by the Competition Authority of Iceland (CAI) on the local companies Visa Iceland/Greidslumidlun and MasterCard Iceland/Kreditkort for ‘serious violations” of the Competition Act over a prolonged period. At the time both were consortia owned by the Icelandic banks. Following the model established in most [...]
The post Iceland’s Competition Authority fines Visa and MasterCard appeared first on Payments Cards & Mobile.
Between its launch day on May 27 2008 and July 1, the UK’s Faster Payments service processed £2.6 billion in value and 5 million transactions. Over its first three days of operation 318,405 faster payments were processed to a value of £200 million. This equates to around 90,000 payments a day, 3,750 payments an hour [...]
Is the UK market moving towards a credit card sector dominated by MasterCard and a debit card sector dominated by Visa? The answer is clearly ‘Yes’ – the direction is established and only its full extent remains to be seen. It’s a remarkable fact that just five years ago, there were twice as many payments [...]
Following HSBC’s recent decision to change its UK debit card brand from Maestro to Visa (ECR May/June 2008, p5) there are now rumours that the remaining large issuer of Maestro in the UK, Royal Bank of Scotland is planning to follow suit. RBS is refusing to comment on these speculations but if true, they could [...]