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]
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.
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]
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.
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]
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]
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]
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]
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]
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]
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]
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]
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]
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]
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.
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]
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]