Content about Visa Inc.

New York -- Visa Inc. has entered into an agreement with mobile commerce provider ROAM, an Ingenico company, to enable merchants of all sizes to accept electronic payments using mobile technology. The companies aim to displace cash payments by expanding the reach of electronic payments to new merchant categories, and by making it easier for merchants and acquirers to take advantage of secure mobile acceptance solutions.

Washington, D.C. -- On Tuesday, a majority of named class plaintiffs filed a notice of appeal to challenge a ruling from the U.S. District Court for the Eastern District of New York granting preliminary approval to a proposed settlement of a long-standing antitrust class action filed by merchants against Visa, MasterCard and the largest banks. The merchant group will ask the U.S. Court of Appeals for the Second Circuit to deny preliminary approval due to the legal defects in the proposed settlement.
 

Foster City, Calif. -- Visa Inc. announced Tuesday it has expanded the reach of V.me by Visa, landing more than 50 additional financial institution partners.  V.me, Visa’s new digital wallet service, eliminates the need for repeatedly entering account number, bill-to and ship-to information at checkout, simplifying the process. Account holders will be able to make payments online using V.me and check out simply by entering a username and password.
 

Washington -- Lawyers representing the National Retail Federation and many of the nation’s most prominent retail companies are set to appear in court today to ask a federal judge to reject a proposed class-action settlement of an antitrust lawsuit over the $30 billion a year in credit card swipe fees charged by Visa and MasterCard.



Foster City, Calif. -- Visa Inc. and 1-800-Flowers.com said Monday that V.me by Visa will be offered as a checkout option on the florist’s site, making the digital wallet service more broadly available so more consumers can purchase online by simply entering a username and password.

1-800-Flowers.com joins merchants such as Rakuten Buy.com, StudentUniverse.com, MovieTickets.com, BlueNile.com, ShoeBuy.com, ZooStores.com, Cooking.com, 88Hours.com and Scentiments.com, which are all using the digital wallet service.

Washington, D.C. -- The National Retail Federation announced that its board of directors has authorized the Federation to go to court to block the proposed $7.25 billion settlement of a federal antitrust lawsuit over skyrocketing Visa and MasterCard credit card swipe fees that cost consumers hundreds of dollars a year.

The July 13 settlement of a lawsuit over allegedly fixed credit card interchange fees is a credit positive for the two largest industry players Visa and Mastercard, but will have a smaller impact on merchant acquirers, retailers and banks, said  Moody’s Investors Service in a new special comment "Credit Card Interchange Fee Settlement is Credit Positive For Visa, MasterCard."

San Francisco -- A new survey conducted this past weekend by Visa Inc. shows that 77% of consumers still need to buy holiday gifts this week. These last-minute shoppers will spend an average of $278 in the final days leading up to Christmas and Hanukkah.

Dallas -- Neiman Marcus announced Thursday that it had entered into agreements with Visa and MasterCard to begin, effective Nov. 1, accepting MasterCard and Visa credit, debit and prepaid cards at all 41 Neiman Marcus stores.

The luxury retailer had long been criticized for accepting only its private-label credit cards, American Express and cash.

"We listened to our customers and heard that they wanted more flexibility in their payment choices," said Karen Katz, president and CEO, Neiman Marcus.
 

San Francisco -- Williams-Sonoma and Barclaycard announced Thursday a new co-branded Visa credit card and loyalty program, allowing cardholders to earn points redeemable for culinary-themed awards and enjoy a wide range of perks.

San Francisco -- Visa announced Tuesday that it plans to accelerate the migration to EMV contact and contactless chip technology in the United States.

The adoption of dual-interface chip technology will help prepare the U.S. payment infrastructure for the arrival of NFC-based mobile payments by building the necessary infrastructure to accept and process chip transactions that support either a signature or PIN at the point of sale.

Arlington, Va. -- In response to legislation introduced on Tuesday by Montana senator Jon Tester to reopen critical reforms of the debit payments market, the Retail Industry Leaders Association issued the following statement:

“Despite the American people’s repeated disapproval of bank bailouts, the Tester bill is just that, this time at the expense of retailers and their consumers,” said Katherine Lugar, executive VP for public affairs, RILA.