Payment Card Best Practices

The merchant card industry is changing, so much so that even the word “merchant” has become out-of-date. In recent years, the industry standard verbiage changed from merchant cards to payment cards to be all-inclusive of the complexities of the payment card world. Examples of payment cards can include traditional credit and debit cards, but also gift cards (closed loop), pre-paid cards (open loop), ghost, and virtual cards.

Bankers, If You Can’t Produce a BSB, You Are Late

We have reached the tipping point in bank billing transparency globally, and it is exciting. The vision of creating a global standard for bank fee reporting started with a few individuals willing to do the work, a few large corporations willing to apply pressure, and a few global banks willing to be leaders in providing transparency to their customers.

The Payment Card Settlement lacks long-term relief

If history tells us anything about the card network and card issuing bank interchange system, it is this: the proposed terms of the settlement will not provide greater transparency or reductions in interchange fees moving forward. Merchants will continue to face complexity, obscurity and substantial costs in the long term, writes Chelsey Kukuk, payment card expert at Redbridge.

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