Buy Now, Pay Later (“BNPL”) payments are often presented by retailers and BNPL lenders to consumers as an alternative to traditional credit card payments. After close scrutiny of industry practices for several years, the...more
Today, Michigan's "agent of payee" exemption to its money transmitter law is effective and West Virginia also passed an agent of payee exemption earlier this month that will be effective soon. These developments are part of a...more
A new standard published by the Payment Card Industry Security Standards Council (“PCI SSC”) may make it easier and less costly for retailers to take advantage of lower cost PIN based transactions in card present scenarios....more
State laws that prohibit retailers from charging customers a surcharge for using a credit card are being challenged on First Amendment grounds.
For more than four decades, California’s Song-Beverly Credit Card Act of 1971...more
On April 20, 2017, the American Banker reported that U.S. Bank’s new high-end credit card features an interesting differentiator from the high-end cards recently introduced by other large credit card issuers. U.S. Bank’s new...more
The U.S. Supreme Court ruled last week that New York’s statutory ban on merchant’s surcharging customers who choose to pay for credit cards is a regulation of speech and is not merely a regulation of pricing conduct, as the...more