There is no greater lighting rod in the payments space. Whether you herald it as a protector of retailers’ rights or complain that it is the ultimate government overreach, the Durbin Amendment is here to stay….for now. So how do you make it work for you, no matter your opinion? I would suggest you look at the provisions for routing. As you know the Durbin Amendment requires that each debit card must provide routing through at least two unaffiliated networks. So now merchant
When general purpose reloadable cards were launched, “reloadable” was not that important. Since a customer bought a card for $19.95, the program manager was fine with a “one and done” cards and any reload was just icing on the cake. Today the fees are very competitive and for many customers GPR cards are a better solution than a traditional DDA account. But the industry is still burdened by a high percentage of cards that are loaded once and discarded. There is one technolog
As most of you are aware, we live and work in a Global Economy. Whether it is importing the latest electronic device or sourcing a service, small and mid-sized enterprises (SME) work with partners around the world. And typically they use their bank to make payments, unaware that there are better solutions. SME’s are constantly looking for ways for goods to flow more smoothly across borders and emerging trade/FX management tools can automate certain aspects of the import and e
A payee focused platform should enable organizations to quickly and transparently distribute funds to artists, policyholders, contractors, content creators, suppliers, and resellers anywhere in the world. The payee’s user experience should be straightforward and offer multiple payment options to fit their current needs. And the paying company should have a platform that is more flexible than traditional payout solutions with simplified and streamlined tax and cash management.