PayPal gave merchants and others a peak at the new payments technology that, it said, will allow it to overcome the dominance of Visa and MasterCard at the point of sale.
New debit cap "is going to create a train wreck that will affect every consumer with a debit card," says CUNA President/CEO Bill Cheney.
Several sources tell Credit Union Times that Sen. Jon Tester (D-Mont.) will offer amendment during debate of a funding bill.
Washington, D.C. publications, stations venue for pitch for no delay to Fed's interchange debit cap.
The retailers are stepping up their defense of the Durbin Amendment and the interchange cap.
Retail and financial service industries are duking it out over attempts to regulate debit interchange fees.
Consumer and retail groups are praising the U.S. Department of Justice's actions against major credit card brands, but analysts are split about whether the moves will result in real lower prices for consumers.
Credit unions took their case for keeping the status quo on interchange fees to Capitol Hill last week as House and Senate conferees began their effort to reconcile the different versions of the regulatory overhaul bill.
WASHINGTON - Last night several hundred credit union executives geared up for today's meetings with lawmakers on interchange by nibbling on hors d'oeuvres and listening to speeches from CUNA leaders.
Retailers expressed disappointment this morning that the Senate version of financial reform legislation formally unveiled yesterday does not address the issue of credit and debit card interchange.