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Visa has mandated that
from 14th October 2017 all Contactless transactions must now be communicated to your acquiring bank for real-time authorisation, regardless of value. This
follows the same process that is already in place for Apple Pay and Android Pay.
This move supports a growing trend toward contactless payments and reducing risk associated with fraud and charge-backs for both card-holders and merchants.
This will impact all business with an additional charge for these transactions.
Currently only transactions that are completed either via Chip & Pin, over the phone or via the Internet attract this charge.
Worldpay buyout by Vantiv
Reported By The Guardian Read Full Post
Posted 28 - 07 - 2017
Worldpay, which handles 40% of all card payments at tills in Britain, has agreed to a £7.7bn potential takeover by US rival in a move that has rekindled the debate about foreign takeovers.
The cash-and-shares offer makes Worldpay the latest British company to be snapped up by a foreign buyer after the Brexit vote, which triggered a sharp fall in the value of the pound.
Cambridge-based Arm Holdings was bought by Japan’s SoftBank for £24bn last July, and other deals include the engineering group WS Atkins, which was bought by Canada’s SNC-Lavalin for £2.1bn in April.
The Worldpay deal was announced after intense talks through Tuesday night following its admission that it had been approached by Vantiv and JP Morgan Chase, driving its shares up 28%.
On Wednesday, after Worldpay said it had agreed terms about a “possible offer” with Vantiv, JP Morgan pulled out and Worldpay’s shares ended 8% lower at 372p – the biggest fallers in the FTSE 100.
UK Government to ban ALL charges
for paying by credit or debit card