First was a little piece of news about usage of Apple Pay that indicates pretty significant issues with the in-store experience.
Now is news on a potential question of legality:
http://www.paymentssource.com/news/compliance/apple-pay-may-reignite-war-over-durbin-amendment-3021023-1.html
Here is a snippet from the piece:
Just months after the Supreme Court appeared to end the legal fight over swipe-fee rules, a new battle is brewing over the interplay between mobile payments like Apple Pay and the Durbin amendment.
At issue is the ease with which merchants can choose routing options that promise lower fees against the backdrop of rapidly changing technology.
The amendment, inserted by Sen. Richard Durbin, D-Ill., into the 2010 Dodd-Frank Act, requires issuers to give greater access to certain PIN networks and not just Visa and MasterCard. But merchants and some payments experts say that requirement is being violated because retailers have not been able to use the other networks in a variety of situations, including Near Field Communication and other contactless transactions like Apple Pay and online commerce.
Happy Reading,
J.W. Gant
At issue is the ease with which merchants can choose routing options that promise lower fees against the backdrop of rapidly changing technology.
The amendment, inserted by Sen. Richard Durbin, D-Ill., into the 2010 Dodd-Frank Act, requires issuers to give greater access to certain PIN networks and not just Visa and MasterCard. But merchants and some payments experts say that requirement is being violated because retailers have not been able to use the other networks in a variety of situations, including Near Field Communication and other contactless transactions like Apple Pay and online commerce.
Happy Reading,
J.W. Gant
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