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]

JetBlue Also Reportedly Looking To End American Express Partnership

JetBlue Also Reportedly Looking To End American Express Partnership

For ten years, JetBlue and American Express have been partners on the airline’s co-branded credit cards. But a new report claims that this longterm relationship may be coming to an end with JetBlue and that it’s already picked out a new partner. [More]

Costco Says Dumping American Express Was About “Saving Money For Customers”

Costco Says Dumping American Express Was About “Saving Money For Customers”

Yesterday, American Express announced the impending end of its monogamous relationship with Costco, meaning that not only will AmEx cards no longer be accepted at the popular warehouse store but that co-branded AmEx/Costco credit cards will be useless after March 31, 2016. Now Costco is breaking its silence on the split, saying it was all done in the best interest of Costco shoppers. [More]

Visa, MasterCard Working On Security Improvements To Make Data Breaches Suck Less

Visa, MasterCard Working On Security Improvements To Make Data Breaches Suck Less

The data breaches, major and minor, that we’ve seen over the past few years aren’t going anywhere. Payment system and database hacks are, for now, basically inevitable. And that’s why Visa and MasterCard have both announced plans to expand their security features for online shopping. [More]

3 Things Costco Shoppers Need To Know About Split From American Express

3 Things Costco Shoppers Need To Know About Split From American Express

Yesterday, American Express confirmed rumors that it would be ending its exclusive partnership with Costco at the end of March 2016. While that is more than a year away, Costco members and AmEx cardholders already have some important questions. [More]

Costco To Stop Accepting American Express In 2016

Costco To Stop Accepting American Express In 2016

It’s been rumored for months that Costco and American Express would eventually end their exclusive relationship, allowing members of the warehouse club to use other cards. Now AmEx has confirmed that the deal will indeed come to an end in early 2016. [More]

Senator Pressures Visa, MasterCard To Stop Serving File-Sharing Sites

Senator Pressures Visa, MasterCard To Stop Serving File-Sharing Sites

File-sharing and copyright infringement have been a bugaboo among lawmakers since internet speeds got fast enough to swap music in the late 1990s. No tactic so far has actually yet stopped audiences from swapping music and movies among themselves, and while some sites and services have been shuttered, another two or three are always ready to pop up. So now a lawmaker is trying a new strategy: appealing to the middlemen who actually move the money. [More]

(photographybynatalia)

Costco May Finally Start Accepting Something Other Than American Express

Costco may be very generous with the free food samples and might have a very forgiving return policy, but when it comes to paying with a credit card at the warehouse club, customers have only one option: American Express. But a new report claims that we could be seeing the end of Costco customers being forced to use their AmEx when buying 872 lbs. of steak and enough toilet paper to keep a small nation clean. [More]

Bogus Credit Card Charges Look Like They Were Made With Chip-Enabled Cards

Bogus Credit Card Charges Look Like They Were Made With Chip-Enabled Cards

As banks begin rolling out new credit cards embedded with microchips intended to help prevent fraudulent use, some financial institutions are reportedly seeing a spike in bogus transaction charges that appear to be coming from these newer cards, even though chip-enabled cards have yet to be sent out. [More]

(zipsonic)

Why Did CVS & Rite-Aid Stop Taking Apple Pay?

After nearly a week of accepting payment via the recently launched Apple Pay system, both CVS and Rite-Aid suddenly stopped offering this option to shoppers over the weekend. And neither retailer is giving a reason why, though it appears to be part of a retail-industry effort to eventually roll out its own payment system. [More]

(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]