Visa news and archive

US retailers call for action against soaring credit card fees

Retailers across the nation are calling for action to be taken against increasing credit card swipe fees, which are driving up costs for businesses and consumers. At a Senate Judiciary Committee hearing on November 19, the National Retail Federation (NRF) underlined the economic impact caused by these fees and pushed for the Credit Card...

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Cos partners with Visa and United Repair Centre on circular initiative

Fashion retailer Cos has become one of the first partners of Visa’s new Recommerce Behavioural Insights Lab, an initiative running experiments to understand how consumers can be helped in engaging with a more circular economy. The financial services firm hopes to partner with leading brands on the cause in order to aid in bridging the gap...

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American Express, Visa and Mastercard suspend operations in Russia

Visa, Mastercard and American Express have all suspended operations in Russia following the country’s invasion of Ukraine. In a statement, Stephen J. Squeri, chairman and chief executive at American Express, said: “In light of Russia’s ongoing, unjustified attack on the people of Ukraine, we are suspending all operations in Russia. “As a result,...

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BusinessMember

American Express, Visa and Mastercard suspend operations in Russia

Visa, Mastercard and American Express have all suspended operations in Russia following the country’s invasion of Ukraine. In a statement, Stephen J. Squeri, chairman and chief executive at American Express, said: “In light of Russia’s ongoing, unjustified attack on the people of Ukraine, we are suspending all operations in Russia. “As a result,...

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Retail

Amazon will not ban Visa from its UK payment options

Fashion brands and retailers selling on Amazon will be pleased the online giant has scrapped plans to ban Visa cards from its UK payment options. In an ongoing dispute between the credit card company and retailer, Visa was to be frozen out until an agreement was reached. “The expected change regarding the use of Visa credit cards on Amazon.co.uk...

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Retail

Visa & Mastercard to cut fees on payments made with foreign credit cards in Europe

The European Commission has accepted an offer by Visa and Mastercard to significantly reduce the fee European retailers need to pay to the cardholder’s bank when a tourist or online shopper makes a payment using a credit card issued outside the bloc. Known as Inter-regional interchange fees or inter-regional MIFs, these fees will now be reduced...

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UK consumer spending falls at fastest rate in eight months

Consumer spending dropped by 1 percent in December 2018, with the run-up to Christmas hitting the sector particularly hard, new data shows. Visa’s UK Consumer Spending Index, compiled by IHS Markit, revealed that overall expenditure continued to decline at the end of last year - with December’s -1.0 percent year-on-year reduction the fastest...

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Apparel

E-wallets to rival cards as most popular online payment type

Alternative online payments are to overtake credit and debit card payments globally by 2017, according to WorldPay’s ‘Your Global Guide to Alternative Payments’ report. The study found online purchases made using alternative payments, any form of payment other than credit or debit cards known as e-wallets, will rise to 59 percent in 2017, from...

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