The pending anti-trust settlement, pitting the six major card issuers and two major card brands against the retailers, has sparked a legislative backlash.
Card, retail executives say practice unlikely to take root in U.S.
Despite slow uptake and Google's low-touch service, search giant remains largest foe in digital wallet disintermediation threat.
Retailers with annual sales below $1 million have dropped year-to-date, while large retailers have seen sales hike.
The multiple-party, multiple-year case over credit card interchange moved one step closer to resolution on Nov. 9 when the Honorable Judge John Gleeson granted preliminary approval of the settlement agreement between retailers, payment networks and nine major card issuers.
As consumers head to the malls and shopping strips this holiday season, more than half are expected to use cash or debit cards and only one out of three shoppers will break out credit cards to buy gifts, so reports an online survey of Litle & Co., a Lowell-Mass.-based payments...
Decision can still be appealed and National Retail Federation said it's considering that route.
Both sides of testy dispute issue statements ahead of New York hearing.
The negotiated settlement meant to end the longstanding dispute over credit card interchange moved closer to becoming final last week as attorneys for both sides in the dispute proposed a final settlement agreement to the U.S. District Court in New York and made a motion for its approval.
Retail group points to $18 million in savings each day.