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Electronic Payment Revolution Brewing in Lebanon
The Lebanese Republic — more commonly known as Lebanon — has a brewing revolution on its hands. Not a revolution of bullets and democracy but one of electronic payment processing. Unlike neighboring...
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Major Retailers Against U.S. Card Processing Swipe Fee Settlement
A number of major retailers in the United States are opting out of a class-action lawsuit settlement with Visa and MasterCard over credit card processing swipe fees. The reason? They say that the deal...
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Google Wallet Aims to Compete Directly with PayPal Online
As PayPal quickly expands to become a viable payment method at brick and mortar retailers, Google Wallet is taking aim at PayPal’s core business. PayPal has long been an extremely popular method to...
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Credit Card Swipe Fee Settlement with Card Brands Hits Another Snag
The antitrust settlement to the lawsuit numerous retailers filed against Visa, MasterCard and various credit card issuing banks has hit another snag besides a number of major retailers including...
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Visa and MasterCard Sue Retailers Back in Swipe Fees Battle Royale
Visa and MasterCard are coming after retailers and trade groups who rejected the $7 billion antitrust settlement over credit card swipe fees with a lawsuit of their own. The lawsuit was filed on May 24...
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Callaway Gardens Hacked: Another Merchant Suffers Card Data Breach
Callaway Gardens — the Pine Mountain, Georgia resort complex — is the latest merchant victim of hackers. The company’s credit card processing system was hacked for eight whole months before a credit...
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Anonymous Electronic Payment Processing Faces Federal Scrutiny
Electronic payment processors that allow users to transfer funds anonymously are facing close scrutiny by federal regulators and law enforcement in the United States over concerns that they are being...
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Visa Holds Electronic Payments Workshop in Saudi Arabia
Visa and the Institute of Banking (IOB) have recently held two workshops on electronic payments in the Saudi Arabian capital of Riyadh. Called “A Global Perspective on Electronic Payments,” the...
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American Express and Groupon Invest Millions in Square Rival ‘SumUp’
American Express and Groupon have invested at least ten million euros in electronic payment processing start-up SumUp. SumUp currently operates in 11 countries in Europe and is often dubbed “the Square...
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Another Data Breach: Local Government’s Credit Card Processor Hacked
The City of Edwardsville, Illinois has become the victim of a data breach at the company that processes its credit cards. While information on only around 6,000 cards is thought to have been stolen,...
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