144
145
CMSPI – IAC State of the Industry Report
CMSPI – IAC State of the Industry Report
Miscellaneous
Single Network Debit Cards (SNDC)
A term used in Australia to describe debit cards issued with only one network, meaning it is not routable for merchants A term used in Australia to describe debit cards issued with two or more networks (i.e. co-badged), meaning it may be routable for merchants The interest rate that commercial banks charge credit-worthy customers, based on the Federal Reserve's federal funds overnight rate.
Digital
“Digital” has a broad meaning, but in this report Digital Payment Methods (DPMs) are non-cash and card payment methods accessed via digital channels. This could include digital wallets, open banking solutions and Buy Now Pay Later (BNPL). The Oxford Dictionary defines omni- channel as “denoting or relating to commerce that integrates the different methods of interaction available to customers (e.g. online, via a mobile device, in a physical store, etc.).” SEPA is a payment integration initiative of the European Union for the simplification of bank transfers denominated in euros. It was introduced for credit transfers in 2008, followed by direct debits in 2009, and fully implemented by 2014 in the euro area. SEPA is approved and regulated by the European Payment Council (EPC). Unified Payments Interface ( UPI) is a payments system in India that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing and merchant payments into one hood. 353 In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, MDL No. 1720 (MKB) (JO) is a class action lawsuit in the U.S. focused on interchange fees. Plaintiffs include a large number of merchants, while the Defendants are card networks and banks. At the time of writing, a settlement has been reached and approved. For more information see: Payment Card Settlement | Official Court- Authorized Website - Frequently Asked Questions.
Dual Network Debit Cards (DNDC)
Prime Rate
Omni-Channel
Payment Methods The Worldpay Global Payments Report is used as a primary source for determining international payment mixes in Section 4. Please refer to the Worldpay Global Payments Report for payment method descriptions. 354
Single Euro Payments Area (SEPA)
Unified Payments Interface ( UPI)
MDL 1720
353 UPI: Unified Payments Interface - Instant Mobile Payments | NPCI
354 https://worldpay.globalpaymentsreport.com/en)
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