The Only Global Event Dedicated to Commercial Payments
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306-324 Angol Czimer Jozsef.Indd
306 JÓZSEF CZÍMER CHANGING PAYMENT LANDSCAPE1 József Czímer Th is paper is intended to be diff erent from others. I shall of course discuss almost all new achievements in the forefront of the payments industry – and there is a large number of them – but we shall see how very few systems in fact serve the vast numbers of diff erent payment tools. Also, this article tries not to be too technical, because the authors believe that even bankers claiming to be payments specialist are unfamiliar with the entire value chain of the payment service industry. Th e aim of this paper is to show what the customer sees and what is behind this front and accordingly, to show the interaction between the various elements of the system. JEL codes: G20, G21, G23 Keywords: payment services, bank card payments, mobile payments, payment infrastucure Although the European Parliament adopted European Commission proposal to create safer and more innovative European payments in Brussels on 8 October 2015, known as PSD2, this paper will refer to the PSD1 due to the fact that, fi rstly, the PSD2 has not yet entered into force and, secondly, the PSDs this paper deals with have not been changed signifi cantly. When PSD2 enters into force it will intend to amend and replace PSD1 to •reduce ambiguity; • level the playing fi eld for payments providers; • increase consumer protection; • stimulate innovation; • increase competition; and • enforce the implementation of new payments type. Th e two major provisions and implications of PSD2 will be the followings: • it accepts the Th ird Party Payment (TPP) provision; and • under the “Access to Accounts” (XS2A) rule it will force banks to provide customer account information to third parties via API, if the account holder agrees. -
Visa's Annual Report
Annual Report 2017 Annual Report 2017 Mission Statement To connect the world through the most innovative, reliable and secure digital payment network that enables individuals, businesses and economies to thrive. Financial Highlights (GAAP) In millions (except for per share data) FY 2015 FY 2016 FY 2017 Operating revenues $13,880 $15,082 $18,358 Operating expenses $4,816 $7,199 $6,214 Operating income $9,064 $7, 883 $12,144 Net income $6,328 $5,991 $6,699 Stockholders' equity $29,842 $32,912 $32,760 Diluted class A common stock earnings per share $2.58 $2.48 $2.80 Financial Highlights (ADJUSTED)1 In millions (except for per share data) FY 2015 FY 2016 FY 2017 Operating revenues $13,880 $15,082 $18,358 Operating expenses $4,816 $5,060 $6,022 Operating income $9,064 $10,022 $12,336 Net income $6,438 $6,862 $8,335 Diluted class A common stock earnings per share $2.62 $2.84 $3.48 Operational Highlights² 12 months ended September 30 (except where noted) 2015 2016 2017 Total volume, including payments and cash volume³ $7.4 trillion $8.2 trillion $10.2 trillion Payments volume³ $4.9 trillion $5.8 trillion $7.3 trillion Transactions processed on Visa's networks 71.0 billion 83.2 billion 111.2 billion Cards⁴ 2.4 billion 2.5 billion 3.2 billion Stock Performance The accompanying graph and chart compares the cumulative total return on $350 Visa’s common stock with the cumulative total return on Standard & Poor’s 500 Index and the Standard & Poor’s 500 Data Processing Index from September 30, $300 2012 through September 30, 2016. -
Banktocustomerdebitcreditnoti
Usage Guideline BankToCustomerDebitCreditNotificationV06 - Mixed Bank to Corporate Messages Portfolio - Draft - January 31, 2017 This document describes a usage guideline restricting the base message MX camt.054.001.06. You can also consult this information online. Published by Payments Canada and generated by MyStandards. 30 January 2017 Usage Guideline Table of Contents .Message Functionality ................................................................................................................................................. 3 1 Restriction summary ......................................................................................................................................... 5 2 Structure ................................................................................................................................................................. 6 3 Rules ......................................................................................................................................................................... 7 4 Message Building Blocks ............................................................................................................................... 8 5 Message Components .................................................................................................................................... 10 6 Message Datatypes ........................................................................................................................................ 226 7 Restriction appendix -
How We Will Calculate Your Balance:We Use a Method Called “Average Daily Balance (Including New Purchases)”. Index and When
232 - 121144 Platinum Edition® Visa® Card T-GULF-2005 Cards are issued by First Bankcard®, a division of First National Bank of Omaha, which is referred to below as “we”, “us”, “our”, and “First Bankcard”. PLEASE NOTE: If you apply for a credit card, you may receive a Platinum Edition® Visa® Card, a Visa Signature® Card, or we may decline to open an account for you. Eligibility for card products depends on the information provided in your application and your credit card history. The card you are approved for will determine your Visa benefits. IMPORTANT RATE, FEE AND OTHER COST INFORMATION (SUMMARY OF CREDIT TERMS) Interest Rates and Interest Charges Annual Percentage Rate (APR) for Purchases 26.99% when you open your account. This APR will vary with the market based on the Prime Rate. APR for Balance Transfers 26.99% This APR will vary with the market based on the Prime Rate. APR for Cash Advances 25.24%. This APR will vary with the market based on the Prime Rate. Penalty APR and When it Applies None How to Avoid Paying Interest on Your due date is at least 21 days after the close of each billing cycle. We will not charge you any interest on purchases if you pay your entire balance by the due date each month.1 Purchases Minimum Interest Charge If you are charged interest, the charge will be no less than $1.75. For Credit Card Tips from the To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at Consumer Financial Protection Bureau www.consumerfinance.gov/learnmore. -
Global Payments 2020-30 a Quantium Shift in the Next Decade Australia's Challenge
McLean Roche Consulting Group Global Payments 2020-30 A quantium shift in the next decade Australia’s challenge – to keep up 1 Submission To RBA Payments Boards – Future of Payments – January 2020 McLean Roche Consulting Group AUSTRALIA’S PAYMENT CHALLENGE Australian payments will see more change in the next 10 years than the last 40 years combined. Australia has an expensive US/Anglo legacy based retail payments system which will be challenge by new technology, new data uses, new players and the need to protect consumer rights and data. Consumer retail payments total $975.7 billion in 2019 and will reach $3.2 trillion by 2030. A faster rate of expansion will occur in SME and Corporate payments. Payments are a very high volume, low margin business with even the smallest changes in revenues or margins delivering significant changes in actual dollars. Regulators around the globe will be challenged by forces of change and this requires all regulators and politicians to be aware of the scale of change and ensure the regulatory frame work changes and evolves quickly. 4 MYTHS DOMINATE THE NARRATIVE 1. CASH WILL DISAPPEAR – many including regulators keep predicting the death of cash. While bank notes may disappear, various forms of cash now dominate retail payments in Australia combining to total 71% share. 2. CREDIT CARDS DOMINATE LENDING – consumer credit cards are in decline having peaked 8 years ago. All the leading indicators are falling – average balance, average spend, revolve rate and number of cards. Corporate and Commercial cards are the only growth story. 3. DIGITAL PAYMENTS ARE THE FUTURE – many payment products use the ‘digital’ tag for marketing ‘glint’ however the reality is all payment products using Visa, MasterCard, Amex or eftpos payment networks are not digital. -
ABCD Life Sciences Top Titles
ABCD springer.com Life Sciences Top Titles September 2009 springer.com Biochemistry (general) 2 Biochemistry (general) powerful tool that enables us to seek a deeper under- ine the relevant physiological, emotional, cognitive standing of the complex mechanisms underpinning so and social processes. The resulting understanding of many vital biologic systems. In this fully revised and the functional interplay of these processes gives valu- updated second edition of Bioluminescence: Meth- able insights into the biological roots and benefits of ods and Protocols, expert researchers contribute a religion. readable and utilitarian compilation of the newest More on www.springer.com/978-3-642-00127-7 and most innovative techniques that have emerged in this rapidly expanding and progressively diverse Available field including methods to assess cell trafficking, pro- 2009. X, 304 p. 13 illus. (The Frontiers Collection, ) tein-protein interactions, intracellular signaling, and 978-3-642-00127-7 ▶ 69,95 € apoptosis. Also opening up the possibility to visual- ize and quantify biological mechanisms in real-time and in in vivo settings, the volume also describes the in vivo study of bacterial or viral infections, trans- planted cells, stem cells proliferation, vascular flow, E. Jacoby and tumors. Written in the highly successful Meth- ods in Molecular Biology™ series format, chapters Chemogenomics include brief introductions to their respective top- Methods and Applications ics, lists of the necessary materials, equipment, and reagents, step-by-step, readily reproducible laboratory The establishment, analysis, prediction, and expan- protocols, and notes on troubleshooting and avoiding sion of a comprehensive ligand-target Struc- known pitfalls. Authoritative and cutting-edge, Bio- ture-Activity Relationship (SAR) in the post-genomic luminescence: Methods and Protocols, Second Edi- era presents a key research challenge for this cen- tion provides protocols that are detailed enough to tury. -
Bow Credit Card Agreement
CREDIT CARD AGREEMENT (Personal Accounts) By requesting or accepting any Standard MasterCard, account. If we accept a payment from you in excess of your Standard Visa, Platinum MasterCard, Platinum Visa, outstanding balance, your available Credit Limit will not be Platinum Rewards MasterCard, or Platinum Rewards Visa increased by the amount of the overpayment nor will we be account (individually or collectively called “Credit Card required to authorize transactions for an amount in excess account” or “Account”) with Bank of the West, you agree to of your Credit Limit. be bound by all the terms of this Agreement. In this 3. Temporary Reduction of Credit Limit. Merchants, Agreement, the words “you” or “your” mean everyone who such as car rental companies and hotels, may request prior has requested or accepted a Credit Card account with us. credit approval from us for an estimated amount of your The words “we,” “us,” “our,” or “Bank” mean Bank of the Purchases, even if you ultimately do not pay by credit. If our West. If you do not accept this Agreement, you must notify approval is granted, your available Credit Limit will us in writing within 5 days after receipt. Use of your card or temporarily be reduced by the amount authorized by us. If any feature (including a balance transfer) of your Credit you do not ultimately use your Credit Card account to pay Card Agreement shall constitute acceptance of this for your Purchases or if the actual amount of Purchases Agreement. posted to your Credit Card account varies from the 1. Use. Your Standard MasterCard, Standard Visa, estimated amount approved by us, it is the responsibility of Platinum MasterCard, Platinum Visa, Platinum Rewards the merchant, not us, to cancel the prior credit approval MasterCard, or Platinum Rewards Visa card (individually or based on the estimated amount. -
General Contracting Terms and Conditions
K&H Bank Zrt. H–1095 Budapest, Lechner Ödön fasor 9. phone: +(36 1) 328 9000 fax: +(36 1) 328 9696 www.kh.hu • [email protected] GENERAL CONTRACTING TERMS AND CONDITIONS FOR BANKCARD AND CREDIT CARD SERVICES Effective dates: December 13, 2017, January 13, 2018 and February 13, 2018 Date of announcement: December 13, 2017 These GCTC are amended pursuant to Sections XIX.1 and XIX.2 hereof with the scope and effective dates specified below. Amended provisions in Section X.6 – effective date: December 13, 2017 (the effective date is referenced in the footnotes as well) Amendments due to amended legal regulations on payment services, or required for more precise and accurate wording of these GTC – effective date: January 13, 2018 Amended provisions in Sections IX.2 and XV.8 – effective date: February 13, 2018 (provisions becoming effective as of February 13, 2018 are specified also in the footnotes. TABLE OF CONTENTS I. TERMS: ................................................................................................................................................... 4 II. BANKCARD AGREEMENT AND ISSUING BANKCARDS ................................................................. 14 DETAILS OF THE EXTERIOR OF THE BANKCARD ....................................................................................................... 14 EXPIRY OF A BANKCARD ....................................................................................................................................... 14 APPLYING FOR A BANKCARD, CONTRACTING ........................................................................................................ -
Presentation to Australian Smart Cards Summit 2007: Review of Payments System Reforms
Review of Payments System Reforms Michele Bullock Head of Payments Policy Reserve Bank of Australia Overview 1. Scope of the review 2. What issues are being addressed? 3. Developments since the reforms? 4. Progress on the studies 5. Where to from here? Scope Credit cards EFTPOS Scheme debit American Express/Diners Club BPAY ATMs The Issues Source: The Australian What are the Issues? Effects of the reforms? Alternatives to regulation? Changes to current regulations? Developments In the market? Overseas? Analysis? Non-cash Payments per Capita* Per year No No 60 60 Cheques Credit cards 50 50 Debit cards 40 40 Direct credits 30 30 20 20 Direct debits 10 10 BPAY 0 0 1994 19961998 2000 2002 2004 2006 *Debit and credit card data prior to 2002 have been adjusted for a break in the series due to an expansion in the coverage of the Retail Payments Statistics in 2002. Sources: ABS; APCA; BPAY; RBA Number of Card Payments Year-on-year growth %% 30 30 Credit 20 20 Debit 10 10 0 0 1997 1999 2001 2003 2005 2007 Source: RBA Market Shares of Card Schemes By value of purchases % Bankcard, MasterCard and Visa % 90 90 85 85 % American Express and Diners Club % 15 15 10 10 5 5 2002 2003 2004 2005 2006 2007 Source: RBA Merchants Surcharging Credit Cards* Per cent of surveyed merchants %% 12 12 Very large merchants Large merchants 8 8 Small merchants 4 4 Very small merchants 0 0 Jun 2005 Dec 2005 Jun 2006 Dec 2006 * Very large merchants are those with turnover greater than $340 million, large merchants $20 million to $340 million, small merchants $5 million to $20 million and very small merchants $1 million to $5 million. -
Bin Qty Brand Code Bank Level Type Country 180006 1
BIN QTY BRAND CODE BANK LEVEL TYPE COUNTRY 180006 1 Unknown 120 Unknown Unknown Unknown Unknown 180015 1 Unknown 120 Unknown Unknown Unknown Unknown 180028 1 Unknown 120 Unknown Unknown Unknown Unknown 180036 1 Unknown 120 Unknown Unknown Unknown Unknown 180039 1 Unknown 101 Unknown Unknown Unknown Unknown 180050 1 Unknown 120 Unknown Unknown Unknown Unknown 180051 1 Unknown 101 Unknown Unknown Unknown Unknown 213168 1 Unknown 221 Unknown Unknown Unknown Unknown 300000 2 Unknown 101 Unknown Unknown Unknown Unknown 300070 1 Unknown 101 Unknown Unknown Unknown Unknown 300087 1 Unknown 101 Unknown Unknown Unknown Unknown 300100 1 Unknown 101 Unknown Unknown Unknown Unknown 300400 1 Unknown 101 Unknown Unknown Unknown Unknown 300583 1 Unknown 101 Unknown Unknown Unknown Unknown 300600 1 Unknown 101 Unknown Unknown Unknown Unknown 300718 1 Unknown 101 Unknown Unknown Unknown Unknown 300752 35 Unknown 101 Unknown Unknown Unknown Unknown 300763 17 Unknown 101 Unknown Unknown Unknown Unknown 300800 6 Unknown 101 Unknown Unknown Unknown Unknown 300901 1 Unknown 101 Unknown Unknown Unknown Unknown 300903 1 Unknown 101 Unknown Unknown Unknown Unknown 300928 4 Unknown 101 Unknown Unknown Unknown Unknown 300940 1 Unknown 101 Unknown Unknown Unknown Unknown 300941 1 Unknown 101 Unknown Unknown Unknown Unknown 300947 2 Unknown 101 Unknown Unknown Unknown Unknown 301305 1 Unknown 101 Unknown Unknown Unknown Unknown 301460 1 Unknown 101 Unknown Unknown Unknown Unknown 301702 1 Unknown 101 Unknown Unknown Unknown Unknown 301801 1 Unknown 101 Unknown Unknown -
Visa Inc. V. Stoumbos
No. 15-____ IN THE Supreme Court of the United States VISA INC., ET AL., Petitioners, v. MARY STOUMBOS, ET AL., Respondents. On Petition for a Writ of Certiorari to the United States Court of Appeals for the District of Columbia Circuit PETITION FOR A WRIT OF CERTIORARI KENNETH A. GALLO ANTHONY J. FRANZE PAUL, WEISS, RIFKIND, Counsel of Record WHARTON & MARK R. MERLEY GARRISON LLP MATTHEW A. EISENSTEIN 2001 K STREET, NW ARNOLD & PORTER LLP WASHINGTON, DC 20006 601 MASSACHUSETTS AVENUE, (202) 223-7300 NW [email protected] WASHINGTON, DC 20001 (202) 942-5000 Counsel for Petitioners [email protected] MasterCard Incorporated and MasterCard International Counsel for Petitioners Visa Inc., Incorporated Visa U.S.A. Inc., Visa Interna- tional Service Association, and Plus System, Inc. i QUESTION PRESENTED Whether allegations that members of a business as- sociation agreed to adhere to the association’s rules and possess governance rights in the association, without more, are sufficient to plead the element of conspiracy in violation of Section 1 of the Sherman Act, 15 U.S.C. § 1, as the Court of Appeals held below, or are insufficient, as the Third, Fourth, and Ninth Circuits have held. ii PARTIES TO THE PROCEEDINGS Pursuant to Rule 14.1(b), the following list identi- fies all of the parties appearing here and before the United States Court of Appeals for the D.C. Circuit. The petitioners here and appellees below in both Stoumbos v. Visa Inc., et al., No. 1:11-cv-01882 (D.D.C.) (“Stoumbos”) and National ATM Council, et al. -
General Contracting Terms and Conditions
K&H Bank Zrt. H–1095 Budapest, Lechner Ödön fasor 9. phone: (36 1) 328 9000 fax: (36 1) 328 9696 www.kh.hu • [email protected] GENERAL CONTRACTING TERMS AND CONDITIONS FOR BANKCARD AND CREDIT CARD SERVICES Effective as of May 4, 2015 The GCTC has been amended pursuant to section XVII.2.a) herein in order to accommodate new services and to clarify regulations as necessary. TABLE OF CONTENTS TABLE OF CONTENTS .......................................................................................................................... 2 I. TERMS: ...................................................................................................................................... 3 II. BANKCARD AGREEMENT AND ISSUING THE BANKCARD ................................................ 9 III. HANDING OVER THE BANKCARD ........................................................................................ 10 IV. PIN (PERSONAL IDENTIFICATION NUMBER) CODE .......................................................... 13 V. ADDITIONAL (OR CO-) CARDS AND BUSINESS CARDS FOR ORGANISATIONS ........... 13 VI. CREDIT CARDS ....................................................................................................................... 14 VII. BANKCARD USE ..................................................................................................................... 19 VIII. BANKCARD USAGE AUTHORISATION, FINANCIAL COVERAGE ..................................... 24 IX. FEES, EXPENSES, COMMISSIONS AND INTEREST ..........................................................