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]
Have you ever had one of those days where you just want pizza to come to you as easily as possible, using as few tools to procure said pizza as possible? Then you might be into a new concept from Visa and Pizza Hut, that wants to get drivers to order and pay for their pizza without ever leaving their cars — or picking up their smartphones, for that matter.
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]
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.
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]
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]
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]
This year credit card companies have sought out ways to make credit card use safer and more secure for consumers. While we’re still waiting for the widespread implementation of chip-and-pin cards, Visa is attempting to tackle fraud at one of its more common sources: the gas pump. [More]
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]
Chain fusion bistro P.F. Chang’s confirmed last week that its payment system had been breached, and the company’s official statement is that they’re investigating when and how the breach started. Unofficially, we may have an answer to the first half of that question: the breach may have started in September of 2013. [More]
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]
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]
“Pay at the pump” generally means you swipe your credit or debit card at the machine. But in New Jersey, where you’re forbidden from pumping your own gas, there really is no other choice than paying at the pump, though the card isn’t always swiped at the actual pump. This vague distinction between “pay at the pump” and “giving your card to someone at the pump” is why one Jersey driver is out $217 in credit card rewards. [More]
We were a bit flabbergasted recently while looking at a budget planning guide from Visa for McDonald’s employees that conveniently added a second job (no easy feat for most) and also seemed to forget the fact that most people need staples like food and gasoline. Not to mention healthcare, which usually is a lot more than $20 a month. So what’s a real budget like for an honest to goodness, living, breathing, eating human being working at McDonald’s? [More]