By James H. Mann on Posted in Regulatory and Compliance
Much has been and will be written about the Memorandum of Understanding, filed on July 13, 2012, that sets out the parties’ binding obligation to enter into a class settlement agreement in the long-pending interchange fee antitrust litigation (“MOU”). Commentators generally have focused thus far on Visa’s and MasterCard’s settlement pay… Read the rest
By Richard A. Gibbs on Posted in Deals and Technology
On January 30, 2012, MasterCard introduced its roadmap for migration from magnetic stripe to EMV technology. MasterCard states that the roadmap will serve as the foundation for MasterCard’s next generation of products and services developed to enhance the way consumers pay.
Chris McWilton, MasterCard President of U.S. Markets states that Master… Read the rest
By Karen Ross on Posted in Deals and Technology
In December 2011 MasterCard and Western Union announced an expansion of their existing prepaid partnership to include electronic payment features and a global reach in their effort to target the unbanked and under-banked. Prior to this new initiative, the companies jointly provided prepaid services in the United States for about a year. Under the new gl… Read the rest
Our Payments Team addresses changes and continuities in the payments industry every day—leveraging our many years of industry experience and our presence on both coasts and in China. On paymentlawadvisor, we offer commentary on new developments that seem particularly significant, as well as resources that we believe can be helpful to others who are tasked with anticipating, understanding and addressing these developments.