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Credit cards
Visa and Mastercard agree $30bn settlement over US transaction fees
...In October, the Fed found payment card networks in the US charged nearly $32bn in interchange fees in 2021, up almost a fifth on the previous year....
March 26, 2024
Your QuestionsLucy Warwick-Ching
Should I use the travel insurance provided by my credit card?
...How can I make sure we’re fully covered?...
March 27, 2024
FT Live
Innovation in Wealth Management Summit
Augmented intelligence for client-centric services
Thursday, 2 May9 Montague Close, London, UK
UK economy
UK moves closer to US-style class actions
...Merricks claims that Mastercard infringed EU competition law by imposing unfair fees — known as “interchange fees” — on customers between May 1992 and June 2008 for the use of debit and credit cards....
July 3, 2022
Leon Black
The downfall of Wall Street billionaire Leon Black
...“It says you’re going to give me $100k,” she said, referring to the monthly payments. “But for how long, it doesn’t say.”...
November 22, 2023
The Future of Money
Account-to-account payments pose fresh threat to credit card networks Premium content
...But progress has been slower in other markets, especially the US, where the average interchange fee banks collect for card transactions is as much 1.4 per cent....
November 14, 2022
Financial services
Visa set to raise fees after removal of EU cap post-Brexit
...According to people briefed on the plans, Visa will in October raise its “interchange fees” — a levy it charges on behalf of banks for every debit or credit card payment that uses its network — on cross-border...
March 19, 2021
FT Live
Evolving retirement strategies in an ever-changing world
What new regulatory developments mean for IFAs
Tuesday, 30 April1 Friday Street, London
Transcript
Europe’s Big Tech trust buster
...Is that more unique in the antitrust sector or what have you seen in your reporting?...
February 15, 2023
Financial services
Visa hits back at Amazon over claims its fees are too high
...Before Visa’s interchange fee increase in October, Amazon had moved to limit its use in markets including Singapore, where a 0.5 per cent surcharge for Visa credit transactions was introduced this year,...
November 20, 2021
#techFT
Services are apple of Cook’s eye
...payments. 5....
January 11, 2022
Fintech
Marqeta IPO puts spotlight on fintech fees
...Marqeta’s largest partner is Sutton Bank, which receives a payment from Marqeta in exchange for the interchange fee....
June 8, 2021
The Future of Money
What is behind insurtechs’ disappointing IPOs? Premium content
...It’s mainly based on interchange, which means, whenever you swipe your card we will get a transaction fee....
November 22, 2021
Fintech
VCs flood into banking-as-a-service Premium content
...Synctera will then take a share of the revenue the partner banks receive from the fintech through sources such as interchange fees on branded debit cards....
January 25, 2021
The Future of Money
Lessons from the UK’s first fintech failures Premium content
...It will also lift a different type of fee for cross-border transactions next year, and charge more for UK businesses to take payment via corporate credit cards....
March 22, 2021
Personal Finance
The coming squeeze on free banking
...New charges for once-free services In November, app-based bank Starling started charging £5 for replacement debit cards and £20 for CHAPS transfers, which tend to be used for occasional high-value payments...
January 29, 2021
News in-depthBanks
Brazil’s banks face pincer threat from big tech and fintech
...and cut fee income for banks....
June 26, 2020
FT Live
Diversity in Finance Awards 2024
Celebrating diversity, inclusion and equality in the financial services sector.
Thursday, 20 June44 Grosvenor Square, London W1K 2HP, UK
EU financial regulation
Visa and Mastercard to cut foreign card fees in EU
...Mastercard and Visa will cut the fees they charge on purchases made in the EU with foreign-issued debit and credit cards, a concession the payment companies hope will end their long-running antitrust battles...
April 29, 2019
Personal Finance
How to get refunds for school fees, season tickets and much more
...It seems to me, therefore, that parents have the upper hand in this situation when it comes to negotiating a reduction in fees or more favourable payment terms.”...
March 27, 2020
UK banks
ATM operators in turmoil over Link move to cut fees
...Investors are concerned about the decision by the Link scheme, which represents both the banks and the independent cash machine operators, to cut the interchange fee paid by card issuers for each cash withdrawal...
January 31, 2018
EU business regulation
Brussels fines Mastercard €570m for restricting competition
...In December 2015 the bloc’s interchange fee regulation capped the fee charged by the US payment group and its rival Visa within the European Economic Area to a maximum of 0.2 per cent of transaction value...
January 22, 2019
Serious MoneyClaer Barrett
Checking out the UK’s first till-free grocery store
...The banks pay a levy known as an “interchange fee” to private companies operating ATMs, but this has recently been cut....
May 3, 2019
Retail & Consumer industry
Legal row between retailers and card processors faces fresh delay
...are costs that businesses face for processing card payments levied each time a credit card is used as payment by customers....
July 4, 2018
Financial services
Visa and Mastercard near $6.5bn settlement over swipe fees
...Card payment networks argue consumers benefit, in part through generous reward schemes....
June 28, 2018
US & Canadian companies
Amex to woo retailers with biggest fee cut in 20 years
...Meanwhile, authorities from Europe to Australia have taken a tougher line on card charges. In the US, the Supreme Court is considering an antitrust complaint....
March 11, 2018
Due Diligence
The problems at Deutsche Bank keep coming Premium content
...JPMorgan Chase has re-hired Daniele Apa as a London-based managing director in its oil and gas investment group....
June 1, 2018
News in-depthUS & Canadian companies
New American Express chief prepares for battle in rewards war
...The company handles everything from issuing the cards to processing the payments, and charges merchants a fee of 2.4 per cent for every transaction....
October 30, 2017

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