(Alan Rappa)

What The Numbers On Your Credit Card Indicate

Over the years, countless people have looked at 16-digit credit card numbers and said things like “Why do they need so many numbers? It’s not like there are 9.999 quadrillion bank accounts out there.” Well, that’s true. But the numbers on your card aren’t just about how many accounts or cardholders exist. They also indicate information about your card issuer, its network and tells processors whether or not the number is valid. [More]

10 Answers To Credit Card Questions We Get Asked All The Time

frankieleon

Credit cards come with a lot of fine print. But the scene isn’t just complicated for cardholders; it’s complicated for the retailers that accept them, too. What needs signing, and what doesn’t? When can a store ask for ID? Are they allowed to charge different prices for cash and credit? [More]

MasterCard Extends Zero-Liability Policy To ATM & PIN Transactions

MasterCard Extends Zero-Liability Policy To ATM & PIN Transactions

While both MasterCard and Visa have zero-liability policies for fraudulent transactions made by swiping a card or using the card number online or over the phone, that same level of protection has not been afforded to all cardholders for bogus ATM withdrawals or PIN-based purchases. However, MasterCard announced today that it is extending the zero-liability policy in the U.S. to include these two types of transactions. [More]

(Clean Wal-Mart)

Walmart Slaps Visa With $5B Lawsuit For Allegedly Fixing Card Swipe Fees

Thought retailers were done fighting credit card companies over those credit and debit card swipe fees? You thought wrong! Or not wrong, because no one can predict the future, but Walmart is steamed up and suing mad at Visa, alleging in a new lawsuit that the card company set ridiculously high card swipe fees. [More]

MasterCard, Visa Form Industry Group To Address Payment Security Issues

MasterCard, Visa Form Industry Group To Address Payment Security Issues

In the wake of numerous high-profile data breaches and growing concerns about identity theft, credit card competitors Visa and MasterCard are teaming up to launch a cross-industry effort aimed at improving payment security for consumers. [More]

Visa, MasterCard Endorsement Of Tap-And-Pay Could Replace Your Wallet With A Smartphone

Visa, MasterCard Endorsement Of Tap-And-Pay Could Replace Your Wallet With A Smartphone

We use our smartphones for everything, from taking photos and video to mobile banking. So why not replace your wallet with your phone? That’s a change that could be coming sooner rather than later now that MasterCard and Visa have endorsed a new mobile payment technology. [More]

(frankieleon)

Target, Macy’s Reject Fee-Fixing Settlement With Credit Card Companies & File Fresh Lawsuit

Last summer, some of the country’s largest retailers reached a settlment with Visa and MasterCard that was supposed to put to rest qualms the businesses had with the credit card companies’ alleged practice of fee-fixing. The $7.2 billion settlement didn’t sit well with some, including Target and Macy’s, prompting a group of retailers to file a new lawsuit this week, effectively rejecting that previous agreement. [More]

(dooley)

MasterCard’s New MasterPass Seeks To Cut Out That Annoying “Waiting To Checkout” Thing

Who needs a physical wallet anymore? Those old things made of leather or duct tape or whatever? Eww. MasterCard is banking on the popularity of other digital wallet systems with the introduction of its new offering, the MasterPass. It doesn’t shut with velcro and you don’t need one of those chain things to keep it in your pocket.  [More]

(frankieleon)

How Do Different Credit & Debit Cards Stack Up In Terms Of Consumer Protection?

We’ve mentioned any number of times how federal laws offer more protection to consumers who make purchases with credit cards because $50 is the most you can be held responsible for a fraudulent purchase, while the sky could be the limit with debit cards. But how do the various networks compare? [More]

(supercharger5150)

PayPal Blocked Access To My Account After Denying Me A Debit Card

Consumerist reader “A.M.” has a small business running a Minecraft server that brings in a bit of money via PayPal. He recently applied for a PayPal/Mastercard debit card, only to be denied. That wasn’t such a big deal; the real problem was his sudden inability to access the money in his PayPal account. [More]

(TheTruthAbout)

Having Separate Credit Card Accounts From Your Spouse Can Keep You From Being Stranded Abroad

While many couples consolidate their bank and credit card accounts, there is at least one situation where having a separate account from your spouse can save you some huge headaches. [More]

Visa, MasterCard Agree To Let Merchants Add Surcharges To Credit Card Purchases

Earlier this week, we told you that a settlement in a huge lawsuit between merchants and Visa and MasterCard was in the offing and that it could open the door to retailers tacking on surcharges to credit card customers. Well, that proposed settlement has come to pass, meaning you may soon be paying more for the privilege of using your credit card. [More]

Get Ready To Pay Surcharge Every Time You Pay With Credit Card

Get Ready To Pay Surcharge Every Time You Pay With Credit Card

Visa and MasterCard know there is nothing that American consumers love more than fees and surcharges. That’s why the credit card companies are reportedly looking to do away with longstanding rules that prohibit merchants from adding on extra costs to customers who pay with credit. [More]

Visa, MasterCard Don't Want You Knowing Which Companies Are Failing At Protecting Your Information

Visa, MasterCard Don't Want You Knowing Which Companies Are Failing At Protecting Your Information

If your bank tells you that your credit card information was stolen from an online merchant you bought something from, it only makes sense that the bank also tell you which e-tailer failed at protecting your information. But the banks say they can’t share this info because the folks at Visa and MasterCard prefer to keep that information private lest you stop doing business with the sources of the leaked information. [More]

Payment Processor: Up To 1.5 Million Credit Card Numbers Stolen

Payment Processor: Up To 1.5 Million Credit Card Numbers Stolen

The news from the hacked third-party payment processor for MasterCard and Visa got worse over the weekend, as early reported estimates of around 50,000 card numbers put at risk turned out to be wrong by 1.45 million. [More]

MasterCard, Visa Payment Processor Says Violation Occurred In Early March; 50,000 Cards At Risk

MasterCard, Visa Payment Processor Says Violation Occurred In Early March; 50,000 Cards At Risk

Earlier today, we wrote about how MasterCard and Visa had begun notifying banks about a possible data breach at a third-party company that processes credit card payments. Now more information has come out regarding when the breach occurred and how many people may be affected. [More]

MasterCard, Visa Warn Banks Of Possible Data Breach

MasterCard, Visa Warn Banks Of Possible Data Breach

MasterCard has notified law enforcement and banks that issue its cards of a possible data breach at a third-party payment processing company. [More]

Intel Wants To Make It Easy (And Safe) To Pay For Purchases By Swiping Your Card Against Your Ultrabook

Intel Wants To Make It Easy (And Safe) To Pay For Purchases By Swiping Your Card Against Your Ultrabook

The big story, in terms of a technology that is here and that consumers seem to actually want, is super-thin Ultrabook laptops that contain Intel-produced processors. And the folks at Intel tell me they don’t just want to provide users with a faster, lighter-weight computing experience; they also want to make it safer and easier to shop online. [More]