Wal-Mart has sued credit card company Visa, alleging the company is forcing the retailer to use a less-secure “signature” method for verifying debit cards in order to route transactions through Visa’s own networks to boost profits.
05-16-2016 Complying with the EMV shift—the move to align credit and debit cards in the United States with proprietary chip technology—is extremely complex and expensive for merchants, and does not do enough to protect retailers from fees and risks associated with fraud, said Mallory Duncan vice president and general counsel at the National Retail Federation.
02-25-2016 The House Financial Services Committee voted 46-9 Dec. 8 in favor of the Data Security Act of 2015 (H.R. 2205). NATSO strongly opposes the legislation, which imposes data security standards for retailers, because it would unnecessarily impose a variety of complicated and expensive obligations on the retail sector.
12-11-2015 NATSO, joining a diverse coalition of retail groups, will be sending a letter to the House Financial Services Committee this week opposing the recently introduced Data Security Act of 2015 (H.R. 2205). That legislation, which is favored by the banking community, would unnecessarily impose a variety of complicated and expensive obligations on the retail sector.
12-07-2015 NATSO served as one of several plaintiffs in a class-action lawsuit against VISA and MasterCard (In re Payment Card Interchange Fee & Merchant Discount Antitrust Litigation). This lawsuit was brought on behalf of merchants who accepted those companies’ payment cards in the United States since January 1, 2004. Over NATSO’s objection, the district court approved a settlement of that class action for a cash payment and an injunction requiring VISA and MasterCard to change some of their rules for accepting their payment cards.
11-30-2015 The House Small Business Committee recently held its second hearing examining the so-called “EMV Deadline” and what it means for small businesses. At this hearing, the Committee heard from small business retailers who shared stories of an expensive, confusing transition to EMV.
10-26-2015 Recent data breaches have brought the issue of data security to the top of many merchants’ radar screens. In particular, NATSO has received a number of questions from truckstop owners […]
09-14-2015 A federal judge rejected a settlement between American Express and merchants over credit card fees after discovering that the merchants’ lawyer inappropriately communicated privileged details of the case with an attorney for MasterCard. The decision, which could have ripple effects for another settlement agreement between many of the same merchants and MasterCard and Visa, means that the merchants and Amex will have to renegotiate the deal or possibly go to trial.
08-05-2015 American Express on May 26 filed an emergency request with the U.S. Court of Appeals for the Second Circuit to pause an injunction that bars the company from prohibiting merchants from steering customers toward a particular card or payment method.
06-01-2015 A federal judge ruled March 26 that a California law banning retailers from charging customers a surcharge on credit card purchases is unconstitutional because it is too vague and violates the First Amendment right of free speech, PYMNTS.com has reported.
04-11-2015 The U.S. Supreme Court on Jan. 20 declined to hear a challenge to the Federal Reserve’s rule over transaction fees that retailers are forced to charge customers when they swipe a debit card.
01-26-2015