Credit card network Visa has an interesting proposal for small food businesses across the country. It will give as many as 50 of them $10,000 each to upgrade their systems, especially to accept contactless mobile payments. The catch is that they have to agree not to accept cash anymore. [More]
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Visa Under Investigation In Ohio For Debit Card Verification Practices
By 4.21.17 — Updated: 5.9.17
Visa has revealed that at least one state attorney general’s office is looking into several aspects of the company’s debit card practices. [More]
Verifone, Largest Maker Of Card Payment Terminals, Targeted By Hack
By 3.7.17
Verifone, the company behind many of the payment systems you see at retailers across the country, is reportedly the latest hack attack victim. [More]
IBM & Visa Team Up To Turn Everything Into A Mobile Payment System
By 2.16.17
Consumers make millions of purchases each year through their phones with systems like Apple Pay, PayPal, Samsung Pay, and other programs. But soon, people might be able to use any number of other connected devices to buy products or pay for services, as IBM and Visa announced a partnership to bring payment systems to a number of “smart” products. [More]
Costco’s Credit Card Transfer Issues Didn’t Affect Sales, Profits
By 10.3.16
Costco’s complicated, complaint-riddled switch from an American Express-branded store credit card to a Visa Citi card may have been a big issue for the membership store’s customers, but it apparently wasn’t a problem for the company’s bottom line. [More]
There Could Soon Be Fewer Bodega And Bar ATMs After MasterCard, Visa Policy Shift
By 9.9.16
You know what it looks like: it’s buried way in the back of the corner store or your local watering hole, covered in a thin layer of grime from all those who have punched its keypad before. It’s the ubiquitous non-bank ATM, and it could be vanishing from some familiar spots in the near future with new policies at MasterCard and Visa that shift the blame for fraudulent transactions. [More]
Uber “Local Rewards” Program Offers Free Rides For Shopping, Dining Out
By 8.30.16
Two months ago, Uber launched a rewards program that offered free rides to users who used a Capital One credit card. Today, the company unveiled a separate reward program with Visa, providing free rides based on how much customers spend at local businesses. [More]
Costco Citi Card Users Receive Cancellation Notices, Are Very Confused
By 8.22.16
Costco, Citibank, Visa, and all of the companies’ customers had plenty of notice that the warehouse club’s store-branded credit card would be switching from American Express to a Citi Visa card. The transition didn’t go very smoothly for some members, but everyone assumed that the transition-related problems would be over by now. Nope. Some customers received cancellation notices at the end of last week, and are now very confused. [More]
Visa Sues Walmart In Response To Lawsuit Over Security Of Debit Card Authorizations
By 6.29.16
Last month, Walmart sued Visa, accusing the card network of pushing the retailer to use a less-secure method of verifying debit card transactions. Now Visa is firing back with a lawsuit of its own, claiming the nation’s largest retailer is violating its contract by setting up payment terminals so that they can only accept the more secure form of validation. [More]
Kroger Accuses Visa Of Using Threats To Force Supermarkets To Accept Less Secure Debit Cards
By 6.28.16
Another week, another large retailer accusing Visa of forcing stores to accept debit cards in a way that it is not as secure as it could be — and which will cost the retailer more money to process. [More]
SCOTUS Will Hear Visa, MasterCard Appeal In ATM Fee Price-Fixing Case
By 6.28.16
Ten months after an appellate court ruled that a lawsuit accusing Visa, MasterCard, and a slew of major banks of conspiring to fix ATM fees could go forward, the United States Supreme Court said it will review an appeal from those companies seeking to throw the case out completely. [More]
Costco’s AmEx To Visa Transition Isn’t Going Great For Some Customers
By 6.22.16
Costco’s decision to switch from only accepting American Express credit cards to only accepting Visa cards is a big deal for their customers (and for American Express) and has been in the works for a long time. That should have given Costco and Citi plenty of time to make sure the transition was smooth and everyone would have their cards working and on time, right? No, of course not. [More]
Costco Officially Switches From AmEx To Visa Today
By 6.20.16
It’s officially out with the old and in with the new at Costco today, as the company closes the book on its 16-year relationship with American Express in exchange for its new deal with Citi Visa. [More]
Credit Card Forgers Going On One Last Crime Spree While Magnetic Stripe Readers Are Still Prevalent
By 6.17.16
America has long served as a haven for credit card crooks because it’s only recently that we’ve switched to credit and debit cards that use smart chips (EMV). However, criminals are taking advantage of retailers’ delay in installing card readers that use the technology, and holding sort of a fire sale on stolen credit card numbers. [More]
Home Depot Accuses Visa, MasterCard Of Colluding On “Defective” Credit Cards
By 6.15.16
While banks and credit card issuers are slowly rolling out new debit and credit cards containing microchips intended to make them less susceptible to fraud, Home Depot says in a recently filed lawsuit that the two largest card networks have colluded with the banks to produce cards that are not as secure as they should be. [More]
Walmart Sues Visa Over Security Of Debit Card Authorizations
By 5.10.16
While retailers across the country installing chip-and-PIN card readers to better protect consumers’ bank information during checkout, Walmart claims in a recently filed lawsuit that Visa is urging the retailer to use a less-secure method for verifying debit card payments. [More]
Visa Update Aims To Speed Up Slow Chip-Card Checkouts
By 4.19.16
While banks have issued hundreds of millions of more secure chip-enabled payment cards in the U.S., only around 20% of Visa merchants currently have chip-card readers up and running. If you’ve used one of these cards at a store, you’ve likely experienced the odd, silent wait as your card sits in the reader, seemingly taking forever for approval. An upgrade from Visa aims to shave a significant amount of time off this process. [More]
Can A Cashier Make Me Read My 3-Digit Credit Card Code In Front Of Other Shoppers?
By 4.15.16
Your credit card has a 16-digit number on the front, plus an expiration date, and another three-digit code on the back. We all know in a vague way that the code on the back (also known as the “CVC” or “CVV”) has something to do with making transactions safer or reducing fraud, but other than that we don’t give it much thought — and while we might expect to have to share that number when shopping online, we certainly don’t expect to be asked to read it out loud when making an in-person purchase at a crowded coffee shop. [More]
