Tomás Fano

There Could Soon Be Fewer Bodega And Bar ATMs After MasterCard, Visa Policy Shift

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

Uber “Local Rewards” Program Offers Free Rides For Shopping, Dining Out

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

Costco Citi Card Users Receive Cancellation Notices, Are Very Confused

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]

Mike Mozart

Visa Sues Walmart In Response To Lawsuit Over Security Of Debit Card Authorizations

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]

Steve Swain

Kroger Accuses Visa Of Using Threats To Force Supermarkets To Accept Less Secure Debit Cards

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]

Todd Kravos

SCOTUS Will Hear Visa, MasterCard Appeal In ATM Fee Price-Fixing Case

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

Costco’s AmEx To Visa Transition Isn’t Going Great For Some Customers

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]

Mike Mozart

Costco Officially Switches From AmEx To Visa Today

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]

Ciaran McGuiggan

Credit Card Forgers Going On One Last Crime Spree While Magnetic Stripe Readers Are Still Prevalent

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]

ralph

Home Depot Accuses Visa, MasterCard Of Colluding On “Defective” Credit Cards

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]

frankieleon

Walmart Sues Visa Over Security Of Debit Card Authorizations

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

Visa Update Aims To Speed Up Slow Chip-Card Checkouts

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?

frankieleon

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]

Mike Mozart

Will Costco’s Switch From American Express To Visa Affect My Credit?

In June, Costco will officially change its store-branded credit card from American Express to a Visa card issued by Citi. The wholesale club is promising a seamless transition, but some longtime Costco customers have concerns: Will my credit score or history be dinged? Can I opt-out?  [More]

Mike Mozart

Citi Will Send Members’ New Costco Visa Cards In May

This June, things will change at Costco: the warehouse retailer will change its official, store-endorsed credit card from a Costco-branded American Express card to a Costco-branded Visa card from Citi. We now know that the new cards will start being mailed out in May, and what kinds of rewards users will be able to expect. [More]

(Ciaran McGuiggan)

Supermarket Chain Sues Credit Card Companies Over Costly Chip Card Delay

Nearly five months ago, new credit card rules went into effect making retailers liable for fraudulent purchases if they haven’t upgraded their checkout technology to accept more secure, but far from perfect, chip-enabled cards. While some retailers have installed the card readers, many haven’t turned them on. But according to a new class-action seeking lawsuit, it’s not their fault.  [More]

Costco Credit Cards Will Officially Switch To Citi, Visa In June

Costco Credit Cards Will Officially Switch To Citi, Visa In June

For more than a year now, Costco has been preparing to take its store-branded credit card business in a new direction. Specifically, it’s transferring its credit card network from long-time partner American Express to Citigroup and Visa. After hitting a few snags in the road, the shopping club now plans to make things official in June.  [More]

San Francisco Wants High-Rise Verizon And Visa Ads To Come Down Before Super Bowl

San Francisco Wants High-Rise Verizon And Visa Ads To Come Down Before Super Bowl

With visitors coming to town for a high-profile sporting event next week, two high-rise buildings in San Francisco sold exterior ad space to Verizon and to Visa. There’s a problem, though: the ads, which are 15 and seven stories high respectively, are illegal, and the city wants them to come down before the Super Bowl. [More]