Report: Holiday Shoppers Saved So Much On Gas, They Spent 8% More This Year

Report: Holiday Shoppers Saved So Much On Gas, They Spent 8% More This Year

If you felt like you reached into your wallet a few more times this holiday season than last year, or that you were forking over bigger chunks of change, you’re not alone: a new report says retail sales were up 7.9% over 2014’s numbers. [More]

MasterCard Launches Program To Make Anything – Clothes, Rings – A Payment Device

MasterCard Launches Program To Make Anything – Clothes, Rings – A Payment Device

MasterCard’s quest to make paying for things easier already includes a few out-there systems: verification via selfie for online orders, anyone? And it doesn’t appear that the credit card company is holding back in its latest endeavor, partnering with a fashion designer and other companies to create an array of consumer products-turned-mobile payment systems. Because, you know, paying with pieces of plastic and phones was so last year.  [More]

MasterCard Rolling Out Payment Verification Technology That Uses Facial Recognition, Fingerprint Scans

MasterCard Rolling Out Payment Verification Technology That Uses Facial Recognition, Fingerprint Scans

With consumers’ shopping habits continually evolving – making more purchases online through smartphones and tablets – more retailers have revamped the way in which they allow such transactions to be made (“Buy” buttons, anyone?). So it should come as no surprise then that the businesses handling such transactions – your credit card company and bank – would also seek to evolve their methods to make payment verification simple and secure. That’s apparently the idea behind MasterCard Identity Check.  [More]

The Chip-And-PIN Credit Card Era Starts Today. What You Need To Know

The Chip-And-PIN Credit Card Era Starts Today. What You Need To Know

Over the past few months, you may have noticed more retailers adorning their checkout stands with shiny new credit card readers. While those systems still have an area along the side where you swipe your card’s magnetic strip, they also have a smaller slot (typically) on the front where you simply jam gently insert your card. This is all part of the country’s shift toward more secure, but far from perfect, chip-enabled cards that kicks into high-gear today. [More]

I’ve Been Forced To Sign A Bogus Credit Card Bill While Traveling Abroad. What Can I Do?

(kevindean)

International travel is great! There are millions of great places to see, people to meet, and foods to try waiting out there in the world. Unfortunately, there are also crooks and fraudsters everywhere. Most of us know how to handle a sticky situation when we’re on our home turf, but what do you do when someone in a place where you don’t speak the language is taking advantage of your wallet in a way you didn’t agree to? [More]

Most Small Business Owners Aren’t Ready For Chip-And-PIN Credit Cards

Most Small Business Owners Aren’t Ready For Chip-And-PIN Credit Cards

Following a string of high-profile data breaches last year, Visa and MasterCard handed down a requirement that all merchants transition to the more secure chip-enabled credit card payment system by October of this year. While several major retailers have already made or are in the process of making the switch, a new report finds that many small business owners don’t even know about the deadline – or the potentially costly consequence of not meeting it. [More]

(Scott Lynch)

Appeals Court Breathes New Life Into ATM Fee Price-Fixing Suit

More than two years after a federal court dismissed price-fixing lawsuits against Visa, MasterCard, Bank of America, JPMorgan Chase, and Wells Fargo, a federal appeals court has revived the cases that involve allegations that these banks and payment networks illegally and anticompetitively established fee levels for out-of-network ATM use. [More]

Court Says Sheriff Crossed Line By Convincing Visa, MasterCard To Sever Ties With Backpage.com

Court Says Sheriff Crossed Line By Convincing Visa, MasterCard To Sever Ties With Backpage.com

First, an Illinois sheriff convinced Visa and MasterCard to stop doing business with online classifieds site Backpage.com, claiming the site was a storefront for sex traffickers. Then Backpage sued the sheriff, alleging his actions were tantamount to government censorship. Now a judge in the case has told the sheriff to back off of Backpage. [More]

Backpage.com Sues Sheriff For Persuading Visa, MasterCard To Stop Serving Site

Backpage.com Sues Sheriff For Persuading Visa, MasterCard To Stop Serving Site

Earlier this month, the sheriff of Cook County, IL, persuaded both Visa and MasterCard to end their relationships with online classifieds site Backpage.com, alleging the site is known to “promote prostitution and facilitate online sex trafficking.” Today, the website fired back with a lawsuit against the sheriff. [More]

Survey Says: You’d Rather Have Your Nude Pics Leaked Than Your Financial Information

Survey Says: You’d Rather Have Your Nude Pics Leaked Than Your Financial Information

MasterCard wants to know how you feel, so they asked a bunch of people: Do you feel safe? Do you feel secure? Do you feel like you need a cookie and a nice cup of cocoa? Wait, scratch that last one. MasterCard’s survey only covered feelings about how safe and secure you feel your financial information is. The answer? Not very secure at all. [More]

(frankieleon)

Could You Soon Be Making Purchases By Scanning Your Face? That’s The Plan At MasterCard

Who has time to memorize the special code or password when you could just scan your face to approve an online purchase? While using facial recognition as confirmation you’re, well, you, might seem a little far-fetched, it could be a reality this fall according to MasterCard. [More]

(frankieleon.)

Visa, MasterCard Cut Ties With Backpage.com After Pressure From Law Enforcement

After pressure from law enforcement, both Visa and MasterCard have announced they will no longer process payments for classified ads on Backpage.com. The site has often been criticized for its “Adult” section, which some say makes it easy for pimps and sex traffickers to solicit customers for sex. [More]

(Mike Mozart)

Target Wants To Perfect Chip-and-PIN Before Venturing Into Digital Payment Methods

Consumers and businesses alike are always seeking out ways to streamline the checkout experience, most recently with mobile payment systems like Apple Pay and Android Pay. But there’s one major retailer that won’t be jumping into new payment options just yet. [More]

(Karen Chappell)

Visa Unveils Plan To Breakdown Airline Fees Separately On Statements

With all the extra fees tacked on by airlines – bag fees, WiFi fees, seat upgrade fees – it can be hard to remember exactly what you paid for each of these add-on charges. Visa customers won’t have to worry about keeping things straight anymore, as the credit card company now plans to breakdown airline charges on monthly statement. [More]

(Mike Mozart)

Walmart Executive: Chip-And-Signature Credit Cards Not Enough To Protect Consumers

The long-awaited move from traditional magnetic stripe credit cards to cards equipped with computer chips has been touted as a safer, more secure method of payment for consumers. But a top executives at the country’s largest retailers says all the hype surrounding the new cards will likely be a security letdown without the use of PIN requirements. [More]

American Express To Fight Court Ruling That Would Let Retailers Encourage Use Of Competing Cards

American Express To Fight Court Ruling That Would Let Retailers Encourage Use Of Competing Cards

Back in February, a federal court ruled that American Express merchant agreements violate antitrust laws, resulting in higher costs for consumers, by forbidding retailers that accept AmEx from encouraging customers to use competing cards like those from Visa, MasterCard, and Discover. Today, the credit card company’s CEO said the company is asking the court to stay this ruling. [More]

(The.Comedian)

American Express Loses Antitrust Lawsuit Over Merchant Rules

After nearly five years of legal battles, a federal court has ruled that American Express’s merchant agreements violate antitrust laws and has resulted in higher costs for consumers. [More]

(Misfit Photographer)

New Visa Feature Uses Smartphone Location Tracker To Prevent Fraud By Knowing Where You Are At All Times

Forgetting to tell your bank that you’ll be traveling far outside of your normal spending zone can often lead to frustrations like having transactions rejected out of concern that your card is being used fraudulently. In an attempt to make the lives of frequent travelers easier – and prevent fraud – Visa plans to launch a new service this spring that automatically informs banks where you are. [More]