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Meta
Category Archives: Debit Card Processing
Merchant Tax Reporting
The Housing and Recovery Act of 2008 included Amendment 6050W, Merchant Tax Reporting. The purpose of this Amendment is to encourage accurate tax reporting. The Amendment requires all payment processing organizations to report gross sales, collect and verify TIN numbers, … Continue reading
Verifone Acquires Hypercom
Verifone has announced plans to acquire Hypercom, a major competitor in the credit card terminal industry. To view the press release announcement Click here
Justice Dept. Settles with Visa & MasterCard
According to reports in the Ft. Lauderdale Sun-Sentinel, the US Justice Department settled disputes with Visa and MasterCard on October 4, 2010. The bankcard associations have agreed to allow merchants to offer discounts to consumers who use less expensive types … Continue reading
Wal-Mart Credit Card Processing Outage
A Wal-Mart Stores data system failure left shoppers unable to use some credit and debit cards on 9/23/2010, a spokesman for the world’s largest retailer said, according to CNN.com. The outage lasted about 90 minutes at Wal-Mart and Sam’s Club … Continue reading
The Dodd-Frank Act: What it might mean to Merchants
ANY_ITEM_HERE The Dodd-Frank Reform and Consumer Protection Act, signed by President Obama in July 2010, is now law. Included in the act is the Durbin Amendment, a provision in the bill dealing with debit card Interchange fees and other issues … Continue reading
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