Credit cards News

Payment processor exposes 2.5M credit card transactions Special By Tim Sandle PAAY, a New York payments start up, exposed millions of credit card numbers. The massive database storing millions of credit card transactions has been secured after being exposed to the public for three weeks on the Internet.

Payment processor exposes 2.5 million credit card transactions Special By Tim Sandle Paay, a New York-based card payments processor, left about 2.5 million credit card transactions publicly exposed for roughly three weeks. Chris DeRamus, CTO and co-founder, DivvyCloud looks into the issue.

Q&A: Why the 'cashierless' trend is here to stay Special By Tim Sandle Computer vision is a form of artificial intelligence that trains computers to interpret and understand the visual world. Such technology is being used to run cashierless stores and it is set to shape a number of other industries in the near future.

NCSC report reveals 1 million payment card fraud cases thwarted Special By Tim Sandle The NCSC’s annual report reveals that has thwarted more than one million cases of suspected payment card fraud in the last year. OneSpan’s Mark Crichton, Senior Director Security Product Management provides an assessment.

Reintroduction of the Safe Banking Act would cover cannabis By Karen Graham U.S. Sens. Jeff Merkley (D-OR) and Cory Gardner (R-CO) have reintroduced the Secure and Fair Enforcement (SAFE) Banking Act in the U.S. Senate as the House companion bill, HR 1595, gains momentum.

Visa offers businesses $10,000 each to go cashless By Arthur Weinreb Visa Inc. is offering to pay 50 American eateries $10,000 each if they refuse to accept cash payments from customers. Visa believes companies will make more money if they become completely cashless.

Despite economy, Americans are optimistic about their credit By Claudio Buttice Many Americans are concerned about jobs and the economy. But despite today's business climate, most people remain optimistic when it comes to managing their wallet and personal finances.

Costco's switch to Visa from Amex hits unanticipated challenges By Nathan Salant Issaquah - If it isn't one thing, it's another complicating discount retailer Costco's switch to Visa-branded credit cards from American Express.

Thanks to new credit cards, Netflix can't collect its money By Owen Weldon On Wednesday, Netflix reported that it saw around 300,000 less signups in the United States than it had expected in the last quarter. One of the reasons why growth was slow is because of the ongoing switch to chip-based debit and credit cards.

Our credit cards are changing — What you need to know By Karen Graham Big changes are coming to credit card users in the U.S. on Thursday. October 1 is the deadline for businesses to upgrade registers and credit card readers to accept a new type of credit card that includes an embedded computer chip.

EU charges credit giant MasterCard with antitrust violations By Nate Smith The European Union on Thursday formally charged credit card giant MasterCard with antitrust allegations, alleging the credit giant is artificially raising monthly minimum payments for its European customers.

Op-Ed: Most Americans would be concerned if spouse had bad credit By Elizabeth Brown Nearly 3 of 4 Americans (73%) would be concerned if they discovered their fiancé had a bad credit rating, according to a new survey by Capital One. Additionally, a spouse's bad credit rating is more likely to concern women (80%), compared to men (66%).

Amazon sued by U.S. regulators over kids apps By Tim Sandle Washington - The US Federal Trade Commission (FTC) has sued Amazon. The FTC says that Amazon allowed millions of dollars of unauthorized purchases by children to take place in its mobile app store.

Majority do not understand differences between credit cards By Tim Sandle A large number of credit card users do not fully understand their card's terms, benefits and rewards program, and have trouble selecting between different types of cards. This is according to an annual survey of credit card users.

Op-Ed: Credit cards — How many is too many? By Larry Alton This is a question many credit card users ask themselves. The real answer to the ‘how many’ question is this: it depends.

Op-Ed: Warning to a world growing increasingly dependent on credit cards By Simon Crompton It is absolutely possible for a person to get by without a credit score. This, by extension, means that it is absolutely possible to get by without credit cards.

Heartbleed virus poses risks to all data, sent and received By Simon Crompton When security researchers noticed issues with encryptions used to securely transmit emails, e-commerce transactions, social network posts, and other Web traffic, they dug deeper to discover the cause was something lurking for over two years.

PayPal president's credit card gets hacked By Tim Sandle Despite running a global business that is designed to hold hackers at bay, PayPal president David Marcus has tweeted that someone used a skimming device to clone his credit card while he was in the U.K.

Chip and Pin to become U.S. norm by October 2015 By Joe Z Hudson Following security breaches at Target as well as other retail chains, it has been announced that the more secure chip and pin technology in credit cards will be issued.

Target CEO: Banks need to issue chip-based credit cards in U.S. By Michael Krebs With the FBI now warning all retailers on similar breach possibilities, Target CEO Gregg Steinhafel is refocusing attention on the need for chip-based credit card technology adoption in the United States.

FBI warns of more credit card breaches By Joe Z Hudson Washington - The FBI has warned retailers to be prepared for more cyber attacks like those that affected Target and Neiman Marcus as well as others over the last few months.

South Korea hit hard with credit card information theft By Karen Graham The hackers that targeted the credit and debit card system for Target during the Christmas season jeopardized close to 40 million customers accounts, to date. An even bigger breach has been discovered in South Korea, affecting almost half the country.

Russian man creates own credit card and sues bank for closing it By Eduardo Arrufat Moscow - A Russian man scanned a commercial credit card agreement and changed the terms of contract in his favor. After returning it signed to the lending bank, they failed to notice the trick and now a Russian court has backed him up.

Op-Ed: Credit card debt — As bleak as they say it is for young adults? By Jason Bushey San Diego - According to a recent survey, young adults are carrying more credit card debt and taking longer to pay it back. Why so much debt, and what's the solution to paying it down?

Chief Justice's credit card theft sparks renewed consumer caution Special By Michael Essany The Chief Justice of the United States Supreme Court John Roberts recently revealed that he was the victim of credit card information theft.

Twitter, Amex let card members pay for items using a #hashtag By Andrew Moran New York - American Express is introducing a new service on Twitter that allows its customers to make purchases through specialized tweets. The new feature is called "Amex Sync" and by including a special hashtags, consumers can purchase items.

Credit card 'checkout fees' for consumers permitted as of Jan. 27 By Leigh Goessl This week a new rule comes into effect that may impact how often you use your credit card. As of Sunday, stores in most U.S. states are permitted to charge customers a "checkout fee" when paying by credit.

Op-Ed: A Faustian Christmas: Why not to use credit cards during holidays By Andrew Moran Toronto - It's less than week away until Santa Claus comes down that chimney to deliver gifts for Christmas. Question: how did Santa Claus pay for all those presents? Let's hope it wasn't with a credit, otherwise he'll be in serious trouble.

High Canadian debt levels soar, Q3 hits all-time record at 164% By Andrew Moran Ottawa - A new report from Statistics Canada has found that consumer debt levels have hit an all-time high in the third quarter of 2012. The debt-to-disposable-income ratio stood at 164.4 percent, up from 163.3 percent in the previous quarter.

New malware steals credit card data from point-of-sale terminals By Leigh Goessl A security researcher has uncovered a type of malware being used to directly steal credit card payment information straight from point-of-sale terminals at retailers, hotels and other places of business.

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