Berkshire: Buffett Buys Millions in Visa and CVS Stock – Stocks To Watch Today – Barrons.com

November 14, 2011

Not content to own just Mastercard (MA), Warren Buffett added Visa (V) to Berkshire Hathaway’s (BRKB) portfolio in the third quarter, according to a filing released after the market closed. Buffett reported owning 2.29 million shares of Visa in the quarter. He maintained his stake in MasterCard, which he also added to the portfolio this year, at 405,000 shares.

via Berkshire: Buffett Buys Millions in Visa and CVS Stock – Stocks To Watch Today – Barrons.com.

Advertisements

Intel and MasterCard Join Forces to Enhance the Consumer Payment Experience (Press Release)

November 14, 2011

Intel Corporation and MasterCard Incorporated announced today a multi-year strategic collaboration to further enhance the security and consumer payment experience for online shopping. “MasterCard is constantly working to improve the shopping experience for consumers and merchants”The collaboration will combine MasterCard’s expertise in payment processing and commerce with Intel’s strengths in silicon innovation and chip-based security. It is designed to provide more options for a safer and simpler checkout process for online merchants and consumers using Ultrabook™ devices and future generations of Intel-based PCs.

via Intel and MasterCard Join Forces to Enhance the Consumer Payment Experience for Online Shopping | Business Wire.


Visa, MasterCard Estimate Potential Fee Settlement at $4 Billion- Bloomberg #swipefees

November 5, 2011

Banga didn’t say that any settlement was imminent, either in the class action or in suits brought by individual merchants including Publix Super Markets Inc. (PUSH), the Lakeland, Florida-based supermarket chain, and Rite Aid Corp. (RAD), the Camp Hill, Pennsylvania-based drugstore chain.

‘via Visa, MasterCard Estimate Potential Fee Settlement at $4 Billion- Bloomberg.


David Lazarus; Bank of America; Chase – latimes.com #SwipeFees

November 5, 2011

Bank of America retreated this week from its planned introduction of a $5 monthly fee for many customers to use their debit cards. The bank said it “listened to our customers very closely” and decided that charging people money to access their money maybe wasn’t the best idea after all.

via David Lazarus; Bank of America; Chase – latimes.com.

 http://latimes.vid.trb.com/player/PaperVideoTest.swf


Visa, MasterCard still fixing card fees -merchants | Reuters #swipefees

November 3, 2011

Nearly eight years after Visa Inc and MasterCard Inc agreed to pay more than $3 billion to resolve allegations that they conspired to raise stores’ fees for processing their payment cards, merchants returned to court on Wednesday to argue that the card companies still maintain a costly stranglehold on interchange networks.

U.S. District Judge John Gleeson heard oral arguments in Brooklyn federal court from a slate of lawyers representing the credit card companies, their issuing banks and the merchants over whether to proceed to trial on the latest round of antitrust allegations against the card companies’ and banks’ interchange networks, which process customers’ credit- and debit-card payments to stores.

via Visa, MasterCard still fixing card fees -merchants | News by Country | Reuters.


MasterCard Estimates Settlement of Big Interchange Cases Could Cost It $500 Million (Digital Transactions) #Swipefees

November 3, 2011

Minneapolis attorney K. Craig Wildfang, lead attorney for the class plaintiffs, said he would not comment about the MasterCard disclosure. But Mitch Goldstone, president and chief executive of one of the named class plaintiffs, ScanMyPhotos.com in Irvine, Calif., said he believes the Occupy Wall Street anti-corporate demonstrators and their sympathizers are having an effect on the defendants.

“I’m having the best level of comfort since 2005 that this could be resolved very quickly,” Goldstone says. “Those [Occupy Wall Street participants] are the people that are going to be jurors next fall. The banks know it.”

Trial is set to start Sept. 12, 2012.

 

http://www.digitaltransactions.net/news/story/3262


Visa, MasterCard still fixing card fees -merchants | Reuters #SwipeFees [WayTooHigh.com]

November 3, 2011

Nearly eight years after Visa Inc and MasterCard Inc agreed to pay more than $3 billion to resolve allegations that they conspired to raise stores’ fees for processing their payment cards, merchants returned to court on Wednesday to argue that the card companies still maintain a costly stranglehold on interchange networks.

via Visa, MasterCard still fixing card fees -merchants | News by Country | Reuters.