The industry is ever-changing. Keep up here.
A Payment Facilitator (“PayFac”) is a company that offers an alternative to contracting with a traditional merchant acquirer or Independent Sales Organization (“ISO”) for card payment services by assuming responsibility for the risk, flow of funds, risk monitoring and ongoing support services for the payment acceptance services required to process transactions.
Businesses accepting card payments should prepare for extensive changes in Credit and Debit Card Interchange Rates and Card Network Fees coming in April 2022.
Upcoming interchange rate changes in regards to downgrades require merchants to review their processing costs and determine if network fee increases will impact their operating margins.
A well-crafted payments contract will be clear and unambiguous. In this article, recent case law on conflicting contractual clauses is discussed.
A recent court decision determined that all third-party liabilities cannot be passed on to merchants; it all depends on the explicit drafting of the contract.
Payments contracts should be drafted carefully to ensure the contracts well represent the agreed upon allocation of risk.
Free speech is at issue, but the Supreme Court’s decision still leaves the legality of surcharge restrictions unresolved under the First Amendment…
Are you ready to ring in a New Year with the new PCI QIR requirements?: Steps integrators and sellers of PA-DSS validated POS systems can take to comply by the end of January.
Visa’s new rules regarding the requirement for small (Level 4) merchants to use Qualified Integrators and Resellers (QIR) takes effect January 31, 2017.
Disclosure, limited liability and periodic statements required for prepaid accounts under the CFPB’s new Prepaid Rule amending Regulations E and Z
