MasterCard

POS transaction service providers are being forced to cut their fees in an attempt to prevent a legislative intervention from the government.

Taxpayers can now use foreign-issued bank cards to pay their taxes online, the Independent Authority for Public Revenue (AADE) has announced.

The AADE said that Visa and Mastercard cards issued by foreign banks can also be used to pay the ENFIA property tax, administrative fees, boat taxes, among others.

The high fees for card transactions whether through POS or e-commerce are an international problem that has mobilized the relevant regulatory authorities.

Economy Minister Kostis Hatzidakis intends to raise the issue of fees for the use of credit or debit cards during his meeting next week with representatives of the two payment-technology corporations MasterCard and Visa, in an attempt to contain the costs of plastic money, especially for product categories with a small profit margin, such as tobacco, newspapers etc.

The value of transactions with plastic money reached 62 billion euros in 2023, recording an increase of 15% compared to 2022, a rate that is expected to be maintained this year with a marginal slowdown, according to estimates by Mastercard, assessing the positive macroeconomic environment and, in particular, the universal mandatory introduction of point of sale devices (POS) in 35 new professio

The European Commission wants to make online transactions faster and safer by making immediate payments the main option to pay for online items or simply transferring money. The EU's proposed law aims to make quick payments a barrier to the dominance of international systems such as Visa and MasterCard, as well as the entry of large internet companies into the payments sector.

Payment processor Visa Inc. said late Saturday that it plans to start separately categorizing sales at gun shops, a major win for gun control advocates who say it will help better track suspicious surges of gun sales that could be a prelude to a mass shooting.

Ljubljana – Online shopping has retained the popularity gained during the Covid-19 pandemic with three out of four of those questioned in a survey commissioned by Mastercard Slovenija saying they shop online at least sometimes. A growing number make their purchases at Slovenian sites.

Apple announced on Feb. 8 a new service that will allow U.S. businesses later this year to accept payments on their iPhones from touchless cards or other iPhones, a new challenger in the booming payments business.

The Facebook-backed digital currency project Diem has announced the winding down and $182-million sale of its technology, capping a years-long initiative that drew significant concern from regulators.