transaction fees

Is Prepaid the Future of Plastic? Fee-Hungry Banks Hope So

There's a new wave of plastic filling the middle ground between credit cards and debit cards: refillable cards -- or prepaid cards -- that act like a hybrid of both. They're an attractive option for consumers -- and a convenient way for banks to sidestep recent consumer protection laws.

Merchants May Win the Right to Charge Credit Card Users More

Merchants have long sought the right to charge customers more for paying with a credit card, which would help them defray the cost of accepting plastic. That's currently banned by Visa and MasterCard, but deal in the works could change that.

Bank Fees: What's the Breaking Point for Customers?

Bank of America learned pretty quickly last month that customers think $5 a month is too much to pay to use a debit card. But is there such a thing as a reasonable bank fee? One in three people say they're prepared to walk away from their financial institution to avoid a fee, a new survey reveals.

Consumers May Get Hit With Higher Debit Card Fees

New rules proposed by the Fed for debit card transactions may mean that consumers end up paying much more for using their cards, while big retailers save billions. The proposed rules would sharply limit the transaction fees sellers have paid, which could push banks to recoup that money directly from buyers.

PayPal Plans a Better Way to Pay Small Sums

PayPal is aiming to launch an improved micropayments service by the end of this year. It hopes a bigger volume of tiny online purchases will be unleashed if buyers can pay as they go, instead of making a big upfront payment to be debited down.

Goodbye Credit Cards, Hello Smartphones

The smartphone revolution is about to upend another business: credit card processing. With Google's new Android app that allows you to literally pay by phone, and Square's new hardware that turns any iPhone into a transaction processor, your plastic could become obsolete.

What's Inside the Financial Reform Bill

Senate and House negotiators reached agreement early Friday morning on the most sweeping overhaul of financial regulation since the Great Depression. It includes a version of the Volcker rule, creates a consumer financial protection watchdog, and limits derivatives trading.