MasterCard, Visa confirm credit card data theft described as ‘massive’ As Reported by Bob Sullivan via MSNBC “MasterCard is currently investigating a potential account data compromise event of a U.S.-based entity and, as a result, we have alerted payment card issuers regarding certain MasterCard accounts that are potentially at risk,” that association said in a [...]
Tag Archives: Debit Cards
Fri 03/30/2012 - 08:28
Fri 09/30/2011 - 04:23
Posted by Chad Davis on September 30, 2011 at 9:05am As expected another big bank announced new fees associated with debit card usage. Bank of America recently announced a $5 per month fee for all customers who use their debit card fee—with exception to ATM usage and certain special accounts. This new fee [...]
Tue 03/01/2011 - 09:08
Reposted from Digital Transactions The prospect of combining on one contactless card payments for parking and transit fares would seem like a winner for hundreds of thousands of commuters who drive each morning to transit parking lots and then hop on a train or bus to the office. That was one idea floated last week [...]
Sat 12/18/2010 - 02:11
Fed proposes 12-cent cap on debit interchange fees * Wants more comment on fraud-prevention costs * Proposal is called for in Dodd-Frank reform law * Promotes competition among card networks * News sends Visa and MasterCard shares tumbling (Rewrites with further details, comment; updates shares) By Dave Clarke and Maria Aspan WASHINGTON/NEW YORK, Dec 16 [...]
Sun 10/10/2010 - 01:53
American Banker  | Thursday, October 7, 2010 By Daniel Wolfe SecureKey Technologies Inc. has developed a way to turn any computer into a contactless payment terminal, bringing the improved security of contactless payments to e-commerce — without requiring online merchants to do anything to their systems. “Now you can turn every e-commerce merchant into a [...]
Wed 05/19/2010 - 02:42
Cross-Posted from Digital Transactions The gap in acceptance costs between PIN-based and signature debit, once wide, continues to narrow, payments executives say. The trend is most apparent in the new interchange schedules for Visa Inc.’s Interlink electronic funds transfer network and the signature-based Visa check card. A number of Interlink rates are rising by percentages [...]
Sat 04/24/2010 - 09:15
Cross-posted from Bank Fraud Forum by Shirley Iscoe According to the 2009 ABA Deposit Account Fraud Survey Report, debit card losses totaled $788 million in 2008, compared to $1.024 billion lost to check fraud. On the surface, clearly check fraud is a larger problem. Surprisingly, however, more banks reported experiencing debit card fraud losses than [...]
Fri 02/19/2010 - 01:46
As posted by Digital Transactions (February 9, 2010) Americans now spend more than half a trillion dollars a year on PIN-debit cards, but the merchant-acquiring industry is still adjusting to consumers’ embrace of point-of-sale. At the same time, debit card pricing is shifting from a simple, flat-fee model to a more complex one, which is [...]
Thu 02/18/2010 - 12:28
Digital Transactions February 11, 2010 Visa Inc.’s announcement this week that starting this summer it will no longer require signatures for transactions of $25 or less at most U.S. merchants heralds a policy that will result in faster and smoother transactions but could also undermine the payments industry’s move toward contactless technology. “The merchant proposition [...]
Mon 02/15/2010 - 11:57
IT experts say they have uncovered flaws in the chip and Pin system which are being exploited by fraudsters to use stolen debit and credit cards. 9:21am UK, Friday February 12, 2010 Neal Walker, Sky News Online A team from Cambridge University’s Computer Laboratory found that criminals can insert a “wedge” between any stolen card [...]
Fri 02/12/2010 - 01:37
As posted on Digital Transactions (February 4, 2010) The bank card networks have weighed in with their latest earnings reports, and operating statistics within them show debit continues to boom while the unprecedented, recession-induced credit contraction over the past year may be nearing its end. At Visa Inc., which reported late Wednesday, U.S. debit payment [...]
Fri 01/29/2010 - 11:39
Forget about cell phone communication for collection calls. The real needle-mover for the ARM industry could be text-messaging — if current laws are changed. by Phill Britt insideARM January 27, 2010 Information technology research and advisory firm Gartner Inc. recently predicted that SMS money transfers will be the number one mobile application by 2012. Even [...]
Fri 01/29/2010 - 10:59
As posted by Veritape Blog The Payment Card Industry Security Standards Council (PCI SSC) has formally clarified that storing sensitive credit card data in digital call recordings is forbidden. In an update to their ‘frequently asked questions’ document on call recording, the PCI SSC has simplified its wording, making it clear that only analogue recordings [...]
