All articles tagged with #merchants
A proposed settlement between Visa, Mastercard, and merchants could allow merchants to discriminate against high-reward credit cards by refusing to accept higher-tier cards or passing on higher fees to consumers, potentially leading to declined transactions for rewards cardholders.
Visa and Mastercard have proposed a settlement that could allow merchants to discriminate between different tiers of their cards, potentially leading to declined high-reward credit cards or surcharges for consumers, amid ongoing litigation over interchange fees. The settlement also includes temporary fee reductions but faces opposition from merchant groups who argue it doesn't go far enough, and it does not involve American Express or debit cards.
Visa and Mastercard have reached a deal to resolve a long-standing dispute with merchants, ending ongoing conflicts over payment practices.
Visa and Mastercard have reached a revised settlement with merchants over swipe fees, which involves lowering fees slightly and providing more acceptance options, ending a 20-year legal dispute; the deal still faces approval and may face opposition from some merchants.
Visa and Mastercard are close to a settlement ending a two-decade legal dispute with merchants, involving a reduction in interchange fees by about 10 basis points and relaxed acceptance rules, potentially allowing merchants to impose surcharges on their cards.
Fiserv faces a class action lawsuit alleging it misled investors about the growth of its Clover platform by hiding slowdowns and forcing merchant conversions, leading to significant stock declines and ongoing legal and financial scrutiny.
Fiserv is sued for allegedly forcing merchants to migrate to its Clover POS system and misleading investors about its growth, concealing a slowdown in new merchant sign-ups and losing merchants to competitors. The lawsuit claims Fiserv inflated its growth figures through forced migrations and false statements, leading to a decline in stock value. Fiserv disputes the allegations and plans to defend itself.
PayPal has introduced a new feature allowing U.S. businesses to accept over 100 cryptocurrencies as payment, including Bitcoin, Ethereum, and novelty tokens, with a promotional fee of 0.99% for the first year. The process involves connecting crypto wallets, selling crypto on exchanges, and converting proceeds into PayPal's stablecoin before settling in USD. This move continues PayPal's push into digital assets, expanding its crypto capabilities for merchants and consumers alike.
Visa and Mastercard have agreed to a $30 billion settlement with U.S. merchants, promising to lower credit card processing fees for retailers and allowing them to impose surcharges on premium cards with higher swipe fees. While this could make using premium cards more expensive, experts are skeptical about significant changes for credit card users. The settlement, subject to court approval, includes lowering interchange rates and allowing merchants to steer customers to other payment methods. It's unclear whether merchants will pass down savings to consumers, and credit card issuers are not expected to make significant changes in the near term.
Visa and Mastercard have agreed to cap the swipe fees they charge to merchants as part of a class-action settlement, potentially saving merchants an estimated $30 billion over five years. The settlement, subject to court approval, stems from a 2005 lawsuit by merchants arguing that they paid excessive fees to accept Visa and Mastercard credit cards. In addition to capping the fees, the companies will roll back posted swipe fees for at least three years and not raise them above last year's rates for five years. Merchants will also be allowed to adjust prices based on the costs of accepting different cards.
In Palworld, the economy is driven by merchants who facilitate the trading of resources, goods, and Pals. There are two types of merchants: Pal Merchants found in villages and Small Settlement areas, and Wandering Merchants that spawn at random. Pal Merchants specialize in trading Pals for gold, while Wandering Merchants offer essential items for survival. Players can locate Settlement merchants at Small Settlements on the map and buy a variety of items from them. The game's early access phase promises ongoing updates on merchant locations and available items.
In Palworld, wheat seeds are essential for making wheat and flour, necessary for breeding Pals and building facilities. Players can obtain wheat seeds by capturing or defeating specific Pals, purchasing them from merchants, or finding them in random chests. Five Pals, including Dinossom and Flopie, drop wheat seeds, and the Wandering Merchant at the Small Settlement sells them for 100 Gold Coins each. Once obtained, players can use wheat seeds to establish a Wheat Plantation and farm wheat consistently by assigning grass and water type Pals to it.
A player of Baldur's Gate 3 has discovered an exploit that allows them to buy out a merchant's entire inventory for just one gold piece by selling and buying back a container holding the items. The bug, which may only work on PC without mods, takes advantage of the game's failure to register the value of the items inside the container. It is unclear if this exploit will be patched in the future.
The Federal Reserve is planning to propose a reduction in the fees that merchants pay to banks for debit card transactions, which currently stand at 21 cents plus 0.05% of the transaction amount. The proposal aims to lower the cap if the costs for processing debit card payments are found to be decreasing.
Shares of Visa and Mastercard fell by about 2% after a report that lawmakers plan to reintroduce proposed legislation that would allow merchants to process credit cards over different networks, potentially reducing fees for merchants. A new bill could be introduced this week.