Over the years, we have seen many increases in interchange fees. Every 6-12 months, Visa/MC will pinpoint specific interchange rates that they choose to go up or down (mostly up). These increases usually apply to only a few categories each release, and they are fairly straightforward to forecast the cost impacts. For example, in October [...]
Within this complex world of payment processing, one major card network is taking a different approach to merchant services. American Express’s new CEO, Stephen Squeri, announced earlier last quarter that AmEx will be reducing their global merchant discount fees (“swipe fees”) by 5-6 basis-points, which could be their largest decrease in price in the last [...]
It’s that time of year again. No, we do not mean tax season. This is what people in the payments world call “Regs Season”. “Regs” is a semi-annual Regulatory Release update which all the major card networks (Visa, MC, Discover, Amex) coordinate to provide a single weekend for their most significant changes in rules, rates, [...]
Unattended self-service terminals and kiosks are all the rage right now. They can be great way for a business to take payments in areas where it is not cost-effective to provide a cashier or clerk. Think, a vending machine in an office building or at an amusement park. And since no one carries cash anymore, [...]
Consumers are constantly looking for more convenient ways to make purchases. While some consumers are slow to adopt the use of mobile payments, many love the convenience especially as more and more merchants are offering it as a payment option. Many merchants are even incorporating reward programs and deals with their mobile apps, making it [...]
Alipay is one of China's top mobile payment services claiming 450 million user worldwide. Most of those users are in China, but their service has been growing and reaching into markets that are popular with Chinese tourists. The newest retailer to accept Alipay is New York City's Asian American grocery chain, iFresh. Read More
EBay has announced that it is replacing PayPal for its primary payments processing with Adyen, a Dutch firm. EBay and PayPal split back in 2015 but had still been tightly linked. EBay plans to take more direct control of payments with this new move and has said the partnership with Adyen would lower costs for [...]
OPC's Anand Goel was quoted in this article in AFP Payments Guide. Ever-Rising Costs Push Merchants Toward Better Card Management Solutions As payment processes and technology become ever more sophisticated, the rules and fees related to cards continue to multiply, as do the opportunities for fraudsters to find cracks in the system. Fortunately, the technology and [...]
AFP Conversations is the only podcast for corporate treasury and finance professionals. Hear treasurers and CFOs discuss: capital structure, risk management, payments, cash forecasting, FP&A, budgeting, bank relationship management, short-term investing, FX, and more! In Episode 71 hear Anand Goel explain How Businesses can Leverage Credit Card Payments Data. https://tunein.com/radio/AFP-Conversations-p918282/?topicId=117771304
By Michael D. Lenihan Published in AFP's Exchange Fall 2017 issue Did you know the credit interchange rates in the United States are the highest in the developed world? This might raise the question as to how your company stacks up against best practices and overall costs of acquiring these sales, given the continued strong [...]
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