(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]

Credit Cards To Sell Your Buying History So Online Advertisers Can Target You More Precisely

Credit Cards To Sell Your Buying History So Online Advertisers Can Target You More Precisely

How about a world where you swipe for a Big Mac and then the next time you go online you get an ad for Slimfast? That’s the big idea behind Visa and Mastercard’s new business foray: selling off all your swipe data to online advertisers so they can more precisely target their ads to what’s going on in your skull. It’s another nail in the coffin for the quaint fiction we call “online privacy.” [More]

Bank Of America, Chase, Wells Fargo, Visa, MasterCard Sued Over ATM Fees

Bank Of America, Chase, Wells Fargo, Visa, MasterCard Sued Over ATM Fees

Have you ever glared angrily at the ATM, knowing that you’re going to be saddled with fees and wishing you could sue everyone involved? Well, it looks like more than one person has followed through on this idea. [More]

ATM Council Sues Visa And Mastercard For Forcing Them To Charge Consumers Set Fees

ATM Council Sues Visa And Mastercard For Forcing Them To Charge Consumers Set Fees

Visa and Mastercard have been accused of price fixing in a lawsuit filed Wednesday by the the National ATM Council. The suit alleges that nonbank ATM operators could charge customers lower ATM fees when they use other, cheaper payment networks, but are prevented from this by the set access fees Visa and MasterCard charge. [More]

Credit Card Marketer Uses Clever Way To Circumvent New Regs

Credit Card Marketer Uses Clever Way To Circumvent New Regs

Looks like at least one credit card marketer has cooked up a clever way around regulations that forbid unsolicited credit cards from being issued and showing up in your mailbox. [More]

VISA And Mastercard Plan To Hike Debit Card Fees On Small Items For Merchants

VISA And Mastercard Plan To Hike Debit Card Fees On Small Items For Merchants

VISA and Mastercard are planning to sharply raise the debit card transaction fees for small purchases for merchants, according to an analyst note. A $2 cup of coffee incurs about an 8 cent fee currently, but under the new policy, the fee will hike to 23 cents. [More]

MasterCard Fixes Merchant Violation Form

MasterCard Fixes Merchant Violation Form

After a reader noticed that Mastercard’s Merchant Violation report form for consumers only let you put in 100 characters even though it said you had 5,000, we wrote a post about it (in addition to using the form itself to report the error). Now Mastercard has informed us that they fixed it, and indeed it passes our test. Finally, “As a point of reference, consumer questions and issues can be raised on our Twitter page at @MasterCard, as well as the web forms,” the MasterCard rep pointed out via email. That’s right, there’s now at least two ways to talk to MasterCard using over 100 characters. [More]