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The payment card interchange fee and merchant discount antitrust litigation is a United States class-action lawsuit filed in 2005 by merchants and trade associations against Visa, Mastercard, and numerous financial institutions that issue payment cards. The suit was filed because of price fixing and other allegedly anti-competitive trade ...
The Personal Information Protection and Electronic Documents Act ( PIPEDA; French: Loi sur la protection des renseignements personnels et les documents électroniques) is a Canadian law relating to data privacy. [ 2] It governs how private sector organizations collect, use and disclose personal information in the course of commercial business.
Interchange fee is a term used in the payment card industry to describe a fee paid between banks for the acceptance of card-based transactions. Usually for sales/services transactions it is a fee that a merchant's bank (the "acquiring bank") pays a customer's bank (the "issuing bank"). In a credit card or debit card transaction, the card ...
The Durbin amendment, implemented by Regulation II, [ 1] is a provision of United States federal law, 15 U.S.C. § 1693o-2, that requires the Federal Reserve to limit fees charged to retailers for debit card processing. It was passed as part of the Dodd–Frank financial reform legislation in 2010, as a last-minute addition by Dick Durbin, a ...
The Financial Services Regulatory Authority of Ontario ( FSRA; French: Autorité ontarienne de réglementation des services financiers) is a self-funding Crown agency which acts as the financial regulator for the Canadian province of Ontario. Established in 2016, FSRA officially succeeded its predecessor agencies – the Financial Services ...
As of 2024, almost all usage of credit on these services, including use of credit cards to fund an ADW account, is prohibited under section 15C of the Act. [2] Initial amendments to the Act in 2017 prohibited provision of credit by the operator to those physically present in Australia, but permitted use of an independently-issued credit card to ...
Opponents of credit card swipe fee legislation claim it will benefit big box retailers, cause harm to consumers and small businesses. From our readers:
Surcharge (payment systems) A surcharge, also known as checkout fee, is an extra fee charged by a merchant when receiving a payment by cheque, credit card, charge card or debit card (but not cash) which at least covers the cost to the merchant of accepting that means of payment, such as the merchant service fee imposed by a credit card company. [1]