IntraFi’s Post

The Consumer Financial Protection Bureau issued a new ruling limiting the fees #creditcard issuers can charge consumers. But what about merchants? In today's Bankhawk North America blog post (https://lnkd.in/ecH6nhPJ), we discuss how Bankhawk helps merchants contend with #banking and #cardpayment fees. Learn more about how Bankhawk has saved companies millions at na.bankhawl.com.

COMMENTARY: The Great Hope Rising From the Quiet Revolution Against Card Payments - Digital Transactions https://buff.ly/49b7PJS #discountingforcash #cardpayments #cash #banks #cardnetworks #surcharging #discounting

🔍 The Federal Reserve Board's recent proposal to reduce the main component of its debit card interchange ceiling has stirred debate in the payments industry. Merchant groups argue the cut isn't sufficient, while the banking lobby criticizes it as arbitrary. The proposed reduction, from 21 cents to 14.4 cents per transaction, has varying reactions. Some experts believe it was overdue, while others caution about market distortions and potential consumer impact. The industry awaits the Fed's final decision amid these diverse perspectives. #PaymentsIndustry #DebitInterchange #FederalReserveProposal

Trend to Watch: An interesting approach by Australian regulators to target both issuers AND merchants to reduce (and possible eliminate) both transaction processing fees and surcharging. If you agree the issue exists is this the formula for a truly customer-centric solution?

Who will drive the adoption of open banking: merchants or consumers?? Watch below to see what we heard from attendees at MRC | Merchant Risk Council Barcelona!

This focus on the safety of deposits continues on one year after the SVB failure, as noted in Treasury Today Group's recent article featuring Law Helie, MBA, General Manager of Consumer Banking at nCino, Inc.. Lenders are putting a strong emphasis on the need to build deposits as a shield against volatility and are actively searching for ways to strengthen their deposit bases, as customers are also searching for more security and limiting their risk exposure. Interested in this topic? Read the full article below, and register for our upcoming webinar about growing consumer deposits: https://lnkd.in/dcpefPh5

Curious about how consumers perceive chargebacks? Banks, processors, and merchants are grappling with rising chargeback volumes, but do consumers truly understand this concern? Join us on February 8th, 2024, for an enlightening exploration of the 2024 Cardholder Dispute Index. Based on a survey by Chargebacks911, this detailed report unveils how cardholders shape the chargeback landscape. Reserve your spot NOW: https://lnkd.in/ebweGNKa #WebinarAlert | #ChargebackSolutions | #BusinessSuccess

💳 Demystifying the Magic: Unveiling the Credit Card Transaction Clearing Process 💳   Have you ever wondered how a swipe at the grocery store translates into funds seamlessly appearing in the merchant's account? It's all thanks to the intricate dance of the credit card transaction clearing process. Join me as we lift the curtain on this fascinating behind-the-scenes journey!   Step 1: Authorization: Let's say you buy a delicious latte. Your card details are sent to your bank for approval. They check your available credit and, if everything checks out, send an authorization signal to the merchant's bank. This is like getting a green light!   Step 2: Batching: The merchant collects many authorized transactions throughout the day and bundles them into a "batch." Think of it as a group shopping cart ready for checkout.   Step 3: Clearing: This is where the magic happens! The merchant's bank sends the batch to a clearing house, a neutral third party overseeing the entire process. They match the transactions with the issuing banks (yours!), ensuring everything aligns.   Step 4: Settlement: Time to transfer funds! The clearing house calculates the net amount each bank owes or receives and facilitates the transfer. Remember that latte? The merchant's bank now has the funds, minus processing fees.   Step 5: Funding: Finally, the merchant's bank deposits the funds minus their fees into their account. The money arrives, and the cycle continues!   The Magic Continues: This complex process happens behind the scenes in seconds, thanks to sophisticated technology and networks. Security is paramount: Every step involves robust measures to protect your sensitive financial information. Speed is crucial: Merchants rely on timely settlements to manage their cash flow effectively.   So, the next time you tap your card, remember the amazing journey your transaction takes!   #CreditCardProcessing #Finance #Banking #BehindTheScenes #Payments

Payments 3.0: A Trend To Cash And Pay by Bank - Digital Transactions https://buff.ly/3uL4Uta #payments #interchange #debitcard #creditcard #RTP #paybybank #discount #fees #surcharges #cardpayments #BenJackson #InnovativePaymentsAssociation #IPA @IPAUpdates

The highly competitive dynamics of the economy sparks many challenges to once thought untouchable power players of the national economy. When a regulatory signals a change in regulatory rules, the reaction can be significant; especially when the change involves regulated service fees. Retailers are poised to receive a reduction but one can bet with confidence that banks & credit unions are poised to oppose the reduction to debit card transaction fees. #banks #regulatoraction