Credit unions processing their payments with FIS and The Members Group are among the first to have the chance to sign on with V.me, Visa’s new digital wallet program designed to make online shopping easier and more secure.
National ATM Council trade group objects that it's included in proposed settlement while it has its own case ongoing against card brands.
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.
A retail group which was not a party to the original anti-trust fight between retailers and major card brands and card issuers over credit card interchange said it is moving closer to taking legal action to try and block a settlement in that case.
National Retail Federation exploring intervention, not a party to the original legal fight.
Interchange settlement now opposed by Retail Industry Leaders Association, which includes Walmrt, Apple, Pepboys and Abercrombie & Fitch, among others.
Merchant Payments Coalition says not all retailers keen on agreement with card brands and issuers and that it only becomes final if enough agree.
CUNA and NAFCU expressed a measure of relief about credit card settlement that could impact credit union credit card programs.
Reaction to settlement of longstanding credit card anti-trust suit.
The $1.4 billion State Department Federal Credit Union in Alexandria, Va., is now offering its 67,500 members a Visa-branded EMV credit card.