On Friday, July 13th, 2012 it was announced that Visa, MasterCard, and a number of large credit card issuers had reached an out of court settlement with US merchants regarding a Class Action Lawsuit on Interchange and card rules.  The settlement is complex and impacts an estimated 7 million or more merchants, not just those involved in the Class Action suit.  The MRC doesn’t get involved with regulatory and pricing issues, however, we had so many merchant members contact us about it, that we wanted to make sure you were aware of the potential impacts on both the US and European merchants processing with US acquirers.
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Partnerships With Verifi, GlobalCollect, Merchant e-Solutions and Moneris Give Zuora Customers Pre-Built Integration for Fraud Protection, Chargeback Prevention, Chargeback Management, and Global Payment Processing
REDWOOD SHORES, CA–(Marketwire – Jun 29, 2011) – Zuora, the subscription billing and commerce leader, today announced new partnerships with leading payment gateways and service providers to further position Zuora as the leader in subscription payments. The partnerships include Verifi, a provider of SaaS-based payment, risk management solutions and chargeback protection programs; GlobalCollect, the world’s premier payment service provider of local e-payments for international Customer Not-Present channels; Merchant e-Solutions, a global leader in payment processing services; and Moneris, one of the largest providers of payment processing solutions across the US and Canada.
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By Peter Lucas

Gateways have always had to reinvent themselves.

Now, with e-commerce returning to double-diget growth and mobile payments poised for takeoff, they have to do it again – and this time with more competion than ever.
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by Linda Bustos

In the noble quest to fight online fraud,

online retailers are feeling the pressure from credit card companies and banks to implement 3D secure technologies – namely Verified by Visa and MasterCard SecureCode. In some countries, merchant participation is mandatory to process certain cards.
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By Tony Wootton

Credit card companies are moving beyond network management to gain visibility

across the payment networks and possibly offer merchants more bang for their buck with increased fraud prevention tools and more comprehensive intelligence on fraudsters. The recent acquisitions by American Express (of Accertify) and Visa (of CyberSource) demonstrate that credit card companies are getting very serious about the need to gain transaction information and provide broader fraud prevention services—and they’re realizing there are companies out there that can help them get the job done.
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By Kevin Woodward

By Andrew Johnson

Electronic payments company Verifi Inc. has developed

a service it says can help merchants that conduct card-not-present transactions recover up to 75% of chargebacks.
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By David F. Carr

Most of us have been trained to beware of being approached online by a Nigerian asking for help with a currency exchange.

But for the Forex Financial Club, that could be a perfectly legitimate customer, since Forex actively seeks overseas clients. Like everyone else, though, Forex must guard against signing up false customers. The challenge is to pierce the Internet’s veil of anonymity, inserting validation checks in the sign-up process to minimize fraud and maximize legitimate business.
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