Plenty of ink has been spilled on Capital One’s bold move to acquire Discover Financial Services, with most of it revolving around combining two large credit card issuers and the odds of the deal securing regulatory approval.
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Topics: Interchange, Mergers, Credit Cards, Durbin, Debit Cards, Capital One, Debit Network, Discover
Financial institution executives who found 2024’s budget cycle particularly vexing are in good company. The unrelenting pace of technology, regulatory, and economic change makes allocating resources and meeting financial goals especially challenging. Time will tell if this is simply the “new normal,” but most internal processes have yet to adapt to these new demands.
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Topics: Digital Banking, Vendor Contract Negotiation, AI, Artificial Intelligence, Bank Vendor Management, Credit Union Vendor Management, Interchange, Regulation, Debit Cards
Most of this year's chatter surrounding card interchange has centered on the prospects for the Credit Card Competition Act's passage. While this pending legislation remains on the watch list, the plot has taken a sudden twist. The Federal Reserve, at an October 25 meeting, pulled debit interchange squarely back onto center stage.
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Topics: Vendor Contract Negotiation, Bank Vendor Management, Credit Union Vendor Management, Durbin Amendment, Debit Cards, Interchange Fees
The financial landscape evolves fast, with banks and credit unions constantly seeking ways to enhance their services, stay competitive, and comply with laws and regulations. One significant challenge they face is the conversion of their card processors – a complex and mission-critical task that can benefit from the expertise of a consulting partner.
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Topics: Fintech, Vendor Contract Negotiation, Bank Vendor Management, Credit Union Vendor Management, Credit Cards, Card Processing, Debit Cards
