UPDATE: In the massive antitrust class action against Visa, Mastercard and more than 25 banks, the deadline has been extended to February 4, 2025 for victims of overpaid credit or debit card transaction fees to file a claim...more
Our Financial Services Group summarizes the closely observed preliminary settlement agreement over the fees credit card companies and banks charge merchants....more
The Competition Appeal Tribunal has handed down a judgment determining several preliminary issues in the £17 billion collective action brought against Mastercard in relation to anti-competitive multilateral interchange fees,...more
Our weekly Online Travel Update for the week ending Friday, December 9, 2022, is below. Payments again feature prominently in this week’s Update as American Express (not to be outdone by Mastercard’s recent announcement)...more
This week’s Update features two stories detailing fintech’s growing influence on online travel. Regular readers of our Update know that we’ve featured a number of fintech and payment related stories this past year, with...more
Europe: European Commission communication on EU Retail Payments Strategy - On 24 September 2020 the European Commission published a communication setting out an EU Retail Payments Strategy identifying key priorities and...more
U.S. Developments - CFTC Approves LedgerX to Clear Fully-Collateralized Futures and Options - The Commodity Futures Trading Commission (CFTC) announced that it has approved LedgerX, LLC’s amended order of registration to...more
This analysis identified and processed over 8,000 patents and patent applications worldwide relating to blockchain, cryptocurrencies, and cryptographic tokens as of July 2018. The analysis did not include patents and...more
Earlier this month, the Electronic Transactions Association (ETA) hosted its annual TRANSACT conference to connect and educate the various branches of the payments industry. Industry leaders spoke on technology, security,...more
As the demand for insurance coverage for cyber-related losses continues to grow, more insurance companies are offering cyber insurance policies and endorsements, but the market is far from mature and the available policies...more
Welcome to the Hogan Lovells Global Payments Newsletter. In this monthly publication we provide an overview of the most recent payments, regulatory and market developments from major jurisdictions around the world as well as...more
Payment Card Industry fines and penalties are fines charged by payment card brands like Mastercard and Visa to merchants’ acquiring banks for violation of their industry rules and regulations, which often occurs when there is...more
On September 29, 2015, the PCI Security Standards Council (“PCI SSC”) issued a press release and accompanying guidance to businesses for incident response management in the event of a data breach. PCI SSC is a global forum...more
Attorneys for certain banks and other financial institutions that are caught up in Target’s 2013 data breach are objecting to the $67 million deal struck last week between the retailer and Visa Inc. The banks and credit...more
Large-scale data breaches have become increasingly common, bringing with them not only bad press and loss of customer goodwill, but serious monetary risk. New cyber security legislation enacted in multiple states, including...more
Senior U.S. District Court Judge Paul Magnuson issued an order on Thursday, May 7 denying a request by counsel for card issuer banks to enjoin the settlement of data breach related claims negotiated between Target and...more