DIRS.INFO The most relevant business & tech news

☆ The Big Number: $30 Billion
▼ + stars: | 2024-03-29 | by ( Santul Nerkar | ) www.nytimes.com time to read: 1 min

The agreement may offer relief for smaller retailers and consumers who have been squeezed by rising costs. But there are reasons to be skeptical that you’ll be paying less every time you use a credit card. Swipe fees have increased over time. According to the Nilson Report, which tracks credit card payments, American merchants paid more than $70 billion in swipe fees to Visa and Mastercard last year.

Persons: you’ll, Nilson Organizations: Visa, Mastercard

☆ Visa and Mastercard Agree to Cap Swipe Fees in Settlement
▼ + stars: | 2024-03-26 | by ( Tara Siegel Bernard | ) www.nytimes.com time to read: +1 min

Visa and Mastercard have agreed to cap the so-called swipe fees they charge to merchants that accept their credit cards, as part of a class-action settlement that could save merchants an estimated $30 billion over five years — the latest development in a nearly 20-year legal battle. Each time a customer uses one of its credit cards, Visa or Mastercard collects a swipe fee — also called an interchange fee — for processing the transaction, which it shares with banks issuing the cards. The settlement, which was announced on Tuesday and is subject to court approval, can be traced back to a 2005 lawsuit by merchants arguing that they paid excessive fees to accept Visa and Mastercard credit cards. As more consumer spending has shifted to credit cards over the years, processing fees have also risen. To accept Visa and Mastercard, U.S. merchants paid $101 billion in total fees in 2023, including $72 billion in interchange fees, according to the Nilson Report, which tracks the payments industry.

Persons: Nilson Organizations: Visa, Mastercard

☆ American kids are facing an epidemic of loneliness. Overhauling youth sports could help fix that.
▼ + stars: | 2023-10-08 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +14 min

AdvertisementAdvertisementA Hooptown Youth League game. While Americans of all ages are vulnerable to loneliness, young people are particularly at risk. Data on grade-school-aged children is limited in the US, but research in other countries has found that young children aren't immune to these problems. One of the few studies to explore sports participation's connection to youth loneliness was conducted by European researchers in 2019. A Hooptown Youth League game.

Persons: —, Nancy Curtin's, we'd, Mike Nilson, Gonzaga University's, Nilson, Chris Elam, It's, Vivek Murthy, General's, John Ewing, they're, There's, Charlie Riedel, Matt Hoffmann, Hoffman, Jon Solomon, — Solomon, David J, Phillip Solomon, Solomon, Curtin Organizations: Service, Hooptown, League, YMCA, Amateur Athletic Union, AAU, Portland Press, Getty, Sports, Fitness Industry Association, National Federation of State High School, Team, Kansas City Royals, Oakland Athletics, Cal State Fullerton, Aspen Institute's Sports, Society Program, Aspen Institute, CDC, rec, Aspen, Spokane — Locations: Oregon, Spokane , Washington, Spokane, Kansas City, Mo

The Credit Card Competition Act was reintroduced last month in both the House and the Senate, after not being brought up for a vote in either chamber during the previous Congress. Retailers in support of the legislation argue credit card processing costs are hurting consumers by driving up the cost of business, and, in turn, the price shoppers pay at checkout. On the other side of the fight, major credit card processing networks like Visa , Mastercard , Discover and Capital One say the bill will actually hurt consumers by diminishing popular credit card rewards programs and lessening fraud protections. Visa and Mastercard account for 80% of all credit card volume, according to data from the Nilson Report, a publication tracking the global payment industry. On average, U.S. credit card swipe fees account for 2.24% of a transaction, according to the Merchants Payments Coalition.

Persons: Doug Kantor, Sen, Dick Durbin, He's, Nilson, Durbin, Harley Finkelstein, Finkelstein Organizations: Visa Inc, Mastercard Inc, Visa, Mastercard, Kroger, Walmart, Discover, Merchants Payments Coalition, CNBC, Main, Electronic Payments Coalition Locations: Tiskilwa , Illinois, U.S, Washington, Shopify, Target, America

☆ Mastercard launches global plan to recycle credit cards
▼ + stars: | 2023-06-21 | by ( Simon Jessop | ) www.reuters.com time to read: +2 min

Under the plan, Mastercard will provide shredding machines to HSBC, each of which is capable of holding 10,000 cards, equivalent to 50 kg (110 pounds) of plastic. Once full, it will be transferred to a plastic recycling facility. The pilot project, which will run for an initial six months, will allow customers to recycle any plastic card, including those from rivals. Currently, Mastercard said it has around 3.1 billion cards in circulation. Each year, it estimates around 600 million cards are produced by the industry, each with a life span of around five years.

Persons: Ajay Bhalla, Jose Carvalho, Nilson, Simon Jessop, Tommy Reggiori Wilkes, Jonathan Oatis Organizations: HSBC Mastercard, Payments, Mastercard, Wednesday, HSBC Holdings Plc, Mastercard Inc, HSBC, HSBC UK, Thomson Locations: Britain

☆ Mastercard's stock has outperformed Visa's over the past 5 years. Here's why
▼ + stars: | 2023-05-27 | by ( Juhohn Lee | ) www.cnbc.com time to read: +2 min

As the world transitions to a more cashless society, Mastercard's value has continued to soar. While Visa outpaces Mastercard in terms of cards in circulation, net revenue and market share based on purchase transactions, Mastercard's stock has outperformed Visa's over the past 5 years. "Visa did not use to own Visa Europe. "Back in 2016, 2017, Visa was able to buy Visa Europe, and they have gone through a huge effort to modernize Visa's operations in Europe. "So, it's kind of a double benefit to revenue when you have more market share in Europe in particular."

☆ Worldline seeks to crack tough French payments nut
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +2 min

MILAN, April 19 (Reuters Breakingviews) - Worldline’s (WLN.PA) boss Gilles Grapinet has spotted an opportunity to access a hard-to-crack payments market. A partnership with Crédit Agricole will allow Worldline to enter Europe’s top market for merchant payments, which several domestic banks still handle directly. Analysts reckon the French bank will confer its entire merchant acquiring business to the new company. For Worldline, the deal may be a stepping-stone to make similar accords with other French lenders or even purchase the whole of Crédit Agricole’s payments business over time. But this deal shows that payments companies still have some scope for dealmaking to improve their fortunes.

☆ The Best Travel Card for Beginners
▼ + stars: | 2023-04-19 | by ( ) www.wsj.com time to read: +7 min

By Ana StaplesThe Chase Sapphire Preferred® Card is a solid pick for cardholders who want valuable travel benefits without a high annual fee. At $95 per year, the card offers strong travel protections usually found on travel cards with annual fees north of $400. Plus, it earns high rewards rates on purchases in dining and online grocery categories, which is why Buy Side from WSJ named it Best Travel Card for Beginners. Sapphire Preferred’s closest competitor—and our pick for the Best Travel Card—is the Capital One Venture Rewards Credit Card. What to know about Chase credit cardsJPMorgan Chase is the largest credit card issuer in the market, according to market tracker Nilson.

☆ Exclusive: Discover to enable tracking of purchases at gun retailers from April
▼ + stars: | 2023-02-17 | by ( Ross Kerber | ) www.reuters.com time to read: +2 min

Proponents of the move, including gun control activists and Democratic politicians, say it will allow financial institutions to better assist authorities in investigating crimes involving gun violence in the United States. Discover said it will include the new code in its next policy and product update to merchants and payment partners, in April. A Visa representative declined to comment on its schedule for the new code. "The decision to use the new merchant category code is eventually left up to the users in the industry," the ISO representative said. Industry leader Visa had a 61% share, Mastercard 26% and American Express 11%.

"We have a nice little sign in front of our register that says 'Hey, credit card fees, they cost us a lot of money,'" Victor Garcia, longtime owner of Sol Dias, told CNBC. CNBC | Cait FredaThe swipe fees aren't new, but the worsening problem comes at a time when Main Street businesses across the country are increasingly struggling with changing macroeconomic conditions. Although the central bank does not conduct the same survey for credit card transactions, the processes used for debit and credit cards are similar. Meanwhile, credit card fees amount to the third-highest operating expense on average for restaurants, according to the Texas Restaurant Association. The European Union cracked down on similar increases, capping fees in 2015 at 0.2% for debit card purchases and 0.3% for credit card purchases.

☆ Highly processed foods are linked to early death, a new study finds
▼ + stars: | 2022-11-07 | by ( Aria Bendix | Aria Bendix Is The Breaking Health Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +5 min

That amounts to more than 10% of annual premature deaths in Brazil among that age group. The authors say their study is the first to estimate the impact of ultra-processed food on the risk of early death. The authors applied that model to Brazil's population and level of ultra-processed food consumption. Ultra-processed foods can often be identified by their long list of ingredients, many of which you wouldn’t normally find in your own kitchen. Willett also said that there may be little benefit to replacing ultra-processed foods with certain items, such as more red meat or foods cooked in a lot of butter.

☆ Walmart and Target push to lower credit card fees
▼ + stars: | 2022-09-20 | by ( Nathaniel Meyersohn | Cnn Business | ) edition.cnn.com time to read: +3 min

A pair of bipartisan bills in Congress aim to lower the swipe fees, also known as interchange fees, that retailers pay every time a customer makes a purchase with their card. Visa V Mastercard MA anddominate more than 80% of the US credit card market. Proponents of these bills say they would generate more competition in the credit card network market and break Visa and Mastercard's hold over the industry. "Credit card swipe fees inflate the prices that consumers pay for groceries and gas," Durbin said in July. "Bringing real competition to credit card networks will help reduce swipe fees and hold down costs for Main Street merchants and their customers."

☆ All the Perks You’re Missing Out on Without This Card
▼ + stars: | 2022-07-10 | by ( ) www.wsj.com time to read: +12 min

By Ana StaplesAt $695 a year, The Platinum Card® from American Express is a travel credit card for heavy spenders who prefer to travel in luxury. You typically want a rewards credit card that already fits your spending, not a card you have to adjust your shopping habits for. For more than two decades until the early 2010s, the Platinum Card from American Express was the only premium travel credit card in the market. The Platinum Card started off as a charge card, meaning it didn’t allow you to carry a balance. The feature offers the flexibility of a traditional credit card by providing card members the option to pay off purchases over time with interest.

Persons: Ana Staples, Amex, Uber, you’ll, That’s, it’s, Jan, “, Marriott, you’d, Nilson, won’t Organizations: American Express, Luxury, Delta Sky, Walmart, American, Amex, incidentals, airfare, Hulu, ESPN, Disney, New York Times, Global, TSA, Saks Fifth, Honors, Avis Preferred, Hertz, Executive Travel, Venture, Capital, Express, Survey, Discover, Chase, Visa, Mastercard, Amex Assurance Company Locations: Amex, Hulu, U.S

☆ The Ultimate Travel Card for Serious Travelers
▼ + stars: | 2022-06-27 | by ( Ana Staples | ) www.wsj.com time to read: +8 min

Those generous rewards, along with its $395 annual fee (relatively modest for a premium travel card) make this card Buy Side from WSJ’s pick for Best Travel Rewards Card for Heavy Travelers. The $300 annual travel credit and the 10,000-mile annual bonus (worth $100 in travel) more than make up for the $395 annual fee. Note that (unlike when you redeem miles for recent travel) you need to book through Capital One Travel to receive the travel credit. If you tend to carry a balance, a rewards credit card may not be a good idea for you. The launch of the Venture X in 2021 made Capital One a serious player in the luxury travel card space.

Persons: Ana Staples, spender, you’ll, Hertz, Nilson Organizations: Card, Capital, Travelers, Venture, Venture X, American Express, Chase, Chase Reserve, Survey, Hertz Locations: Capital, U.S, Hertz.com

☆ If You Want One Travel Card…This Is It
▼ + stars: | 2022-06-20 | by ( ) www.wsj.com time to read: +9 min

With an annual fee of $95, Capital One Venture Rewards offers a lower price compared to many top travel cards. Still, Venture Rewards’ high rewards rate on general purchases, flexible redemption policies, and generous sign-up bonus make it a great travel credit card. However, when it comes to travel credit card products, it’s often perks and benefits that make up a large portion of the card’s value. In contrast, other popular travel card issuers including American Express and Chase offer travel redemptions only through their travel portals. Last year, Capital One ramped up its game by launching its first luxury travel credit card with a highly competitive annual fee.

☆ Rezultatele celei de-a cincea ediții a Moldova In Fashion Conference. Cum s-a desfășurat evenimentul în format digital
▼ + stars: | 2020-11-27 | by ( Onixmedia Srl | ) diez.md time to read: +3 min

Evenimentul a fost organizat de către ZIPHOUSE Fashion Hub, parte componentă a Universității Tehnice a Moldovei și a avut loc în premieră în format digital. Alături de ea, cu cuvinte de salut și de susținere au venit și Steven Fisher, ambasadorul Regatului Unit în Moldova, Scott Hocklander, președintele USAID în Moldova, dar și de către Dirk Vantyghem, directorul executiv al European Apparel and Textile Confederation. Ediția din acest an a prezentat celor peste 100 de participanți măsurile de recuperare în această perioadă în care industria fashion trece printr-o schimbare radicală, punându-se accent în mod special pe conceptele de sustenabilitate și slow fashion. ###Moldova In Fashion Conference este un eveniment esențial pentru dezvoltarea industriei ușoare autohtone, având drept scop informarea producătorilor locali, prezentarea inovațiilor din domeniul de către experții internaționali și de a da tonul noului sezon și noului an. Evenimentul a fost organizat de către Centrul de Excelență în Design și Tehnologii ZIPHOUSE al Universității Tehnice a Moldovei, în parteneriat cu Asociația Patronală a Industriei Ușoare (APIUS) și suportul Proiectului de Competitivitate din Moldova, finanțat de Agenția Statelor Unite pentru Dezvoltare Internațională (USAID), Guvernul Suediei și UK Aid.

Persons: Anna Lyberg, Steven Fisher, Scott Hocklander, Dirk Vantyghem, Johanna Nilson, Daniela Tamaș, Wendy Heijne Organizations: Evenimentul, Universității Tehnice, Moldovei, Conference, Agenția Statelor Unite, UK Locations: Suediei, Moldova, Regatului Unit, Textile Confederation, -

☆ Dieta lui Zlatan Ibrahimovic ca să fie în formă la aproape 40 de ani. Ce aliment nu lipsește de la masă
▼ + stars: | 2020-11-26 | by ( ) www.jurnal.md time to read: +1 min

Suedezul uimește pe toată lumea la 39 de ani, iar secretul celei de a doua tinereți din cariera sa nu este unul greu de aflat. Iar dieta strictă pe care o aplică atacantul suedez este una din explicațiile formei sale excepționale. Ibrahimovic consumă doar carne albă și fructe și legume proaspete, nu congelate, și a renunțat la orice preferințe personale de la înghețată la pizza și paste. Alunele reprezintă alimentul bogat în magneziu și grăsimi bune care nu lipsește de la masa lui. El susține că artele marțiale îl ajută mai mult să-și păstreze mobilitatea și flexibilitatea pe care o demonstrează la 39 de ani.

Persons: Suedezul, Ibra, Milan Locations: Napoli

☆ MasterCard, Visa, and Amex are trying to enter China
▼ + stars: | 2017-07-24 | by ( Ayoub Aouad | ) www.businessinsider.com time to read: +3 min

US card networks MasterCard, Visa, and American Express are preparing to submit a license request to operate in China, according to Reuters. China's card market is poised to be the largest in the world, which makes entering the region a significant growth opportunity for US networks. For companies seeking to build out a robust mobile payments product, China's thriving mobile payments ecosystem offers some insight — and some lessons. Insider Intelligence, Business Insider's premium research service, has compiled a detailed report on mobile payments in China that:Forecasts and compares mobile payments volume, in-store mobile payments users, mobile payments volume per capita, and mobile commerce penetration in China and the U.S.Overviews the key competitors in China's mobile payments market, and how new entrants may shuffle the hierarchy of dominant players. Uncovers the key drivers propelling China's mobile payments market.

Persons: Nilson Organizations: Intelligence, MasterCard, Visa, American Express, Reuters, GlobalData, Fox Business, Business Locations: China, U.S

Search resuls for: "Nilson"

18 mentions found