Content about Credit cards

July 28, 2014

The National Retail Federation, Retail Industry Leaders Association, Food Marketing Institute, Merchant Advisory Group, National Association of Convenience Stores, National Grocers Association, and National Restaurant Association are jointly calling for an open and universal tokenization standard in the U.S. payments system.

Washington, D.C. – The National Retail Federation (NRF), Retail Industry Leaders Association (RILA), Food Marketing Institute (FMI), Merchant Advisory Group, National Association of Convenience Stores (NACS), National Grocers Association, and National Restaurant Association (NRA) are jointly calling for an open and universal tokenization standard in the U.S. payments system.

July 3, 2014

Cardtek Group, a provider of software for financial transactions and EMV migration, is launching Cardtek USA.

Chicago – Cardtek Group, a provider of software for financial transactions and EMV migration, is launching Cardtek USA. The company’s North American headquarters, based in Chicago, will facilitate the U.S. adoption of Europay-MasterCard-Visa (EMV) technology in an effort to help prevent credit card fraud and data breaches.

July 2, 2014

Tim Hortons and Canadian Imperial Bank of Commerce (CIBC) are launching the new CIBC Tim Hortons Double Double Visa Card, leveraging a two-button technology that allows cardholders to press the CIBC Visa button on the front of the card to pay for their purchases anywhere Visa is accepted.

Toronto – Tim Hortons and Canadian Imperial Bank of Commerce (CIBC) are launching the new CIBC Tim Hortons Double Double Visa Card, leveraging a two-button technology that allows cardholders to press the CIBC Visa button on the front of the card to pay for their purchases anywhere Visa is accepted. One percent of each dollar spent is converted instantly into Tim Cash rewards, and by touching the Tim Card button, cardholders can then redeem their Tim Cash loyalty points at Tim Hortons locations.

June 18, 2014

The National Retail Federation and the Retail Industry Leaders Association have asked an appeals court to overturn a federal judge’s approval of a lawsuit settlement regarding Visa and MasterCard’s credit card swipe fees, saying it was negotiated by only a handful of merchants and would do nothing to bring the fees under control.

Washington, D.C. - The National Retail Federation (NRF) and the Retail Industry Leaders Association (RILA) have asked an appeals court to overturn a federal judge’s approval of a lawsuit settlement regarding Visa and MasterCard’s credit card swipe fees, saying it was negotiated by only a handful of merchants and would do nothing to bring the fees under control.

June 10, 2014

Rocky Mountain Chocolate Factory (RMCF) is providing PCI compliance and security management services to 280-plus franchised RMCF locations using the Cybera One platform. RMCF sought a comprehensive network security solution to facilitate cost-effective PCI Security Council data security standards (DSS) compliance, as well as a solution that could ease implementation and management challenges and protect brand identity.

Durango, Calif. — Rocky Mountain Chocolate Factory (RMCF) is providing PCI compliance and security management services to 280-plus franchised RMCF locations using the Cybera One platform. RMCF sought a comprehensive network security solution to facilitate cost-effective PCI Security Council data security standards (DSS) compliance, as well as a solution that could ease implementation and management challenges and protect brand identity.

May 9, 2014

After several months of sluggish retail sales, consumer shopping in the U.S. rebounded in April, according to the latest MasterCard SpendingPulse report, which aggregate national retail sales activity in the MasterCard payments network, coupled with estimates for all other payment forms, including cash and check.

Purchase, N.Y. -- After several months of sluggish retail sales, consumer shopping in the U.S. rebounded in April, according to the latest MasterCard SpendingPulse report, which aggregate national retail sales activity in the MasterCard payments network, coupled with estimates for all other payment forms, including cash and check.

April 29, 2014

Target Corp. named veteran IT executive Bob DeRodes as chief information officer. The retailer also announced that it plans to incorporate MasterCard chip-and-PIN technology across its Target-branded REDcard portfolio by early 2015

Minneapolis -- Target Corp. named veteran IT executive Bob DeRodes as chief information officer. The retailer also announced that it plans to incorporate MasterCard chip-and-PIN technology across its Target-branded REDcard portfolio by early 2015, and is converting existing payment terminals at its stores this year ahead of schedule.

April 23, 2014

Ever since the major retailer breaches last year, outsiders have been pointing fingers at the victim merchants demanding to know how something like this could happen. But cyber risk in the payment card industry is a problem greater than any one company.

By Erin Nealy Cox, Stroz Friedberg

April 17, 2014

MasterCard has entered into an agreement to acquire Pinpoint Pty. Ltd. , an Australian provider of loyalty and rewards services to financial institutions across the Asia Pacific region.

Purchase, N.Y. – MasterCard has entered into an agreement to acquire Pinpoint Pty. Ltd., an Australian provider of loyalty and rewards services to financial institutions across the Asia Pacific region. This acquisition is expected to close in second quarter 2014.

April 9, 2014

Japanese online giant Rakuten has teamed up with First Bankcard to launch the Rakuten Rewards MasterCard Program, which provides cardholders with reward points for using their credit card to shop on Rakuten.com and elsewhere.

New York -- Japanese online giant Rakuten has teamed up with First Bankcard to launch the Rakuten Rewards MasterCard Program, which provides cardholders with reward points for using their credit card to shop on Rakuten.com and elsewhere.

Rakuten.com, formerly Buy.com, is Rakuten's U.S. marketplace, offering consumers more than 17 million products at everyday low prices from a network of small and large business shop owners.

April 3, 2014

VeriFone Systems announced today that five devices in its PAYware Mobile line of EMV- enabled mobile point-of-sale (mPOS) devices have been approved by the Visa Ready Program.

San Jose, Calif. -- VeriFone Systems announced today that five devices in its PAYware Mobile line of EMV- enabled mobile point-of-sale (mPOS) devices have been approved by the Visa Ready Program. The program is designed to ensure that devices, software and solutions used to initiate or accept Visa payments are compatible with Visa’s requirements.
 
By adopting PAYware Mobile devices that are Visa Ready approved, merchants enjoy the benefits of secure electronic payment acceptance from virtually any location.
 

March 28, 2014

Wal-Mart Stores Inc. filed suit with the U.S. District Court for the Western District of Arkansas suing Visa for $5 billion, alleging that the financial services company overcharges on the credit and debit card swipe fees it charges retailer.

Bentonville, Ark. – Wal-Mart Stores Inc. filed suit with the U.S. District Court for the Western District of Arkansas suing Visa for $5 billion, alleging that the financial services company overcharges on the credit and debit card swipe fees it charges retailer.

The suit claims that Visa colluded with banks to fix swipe fees between January 2004 and November 2012, forcing it to raise prices and reduce customer service, resulting in lost retail sales.

March 7, 2014

Visa Inc. and MasterCard Inc. are teaming up to create a new group that will focus on improving payment system security.

Foster City, Calif. – Visa Inc. and MasterCard Inc. are teaming up to create a new group that will focus on improving payment system security. The group will include banks, credit unions, retailers and initially focus on adoption of EMV (Europay, MasterCard, Visa)-compliant card technology in the U.S. in advance of the October 2015 liability deadline.

The group will also study tokenization, or the replacement of customer account numbers with unique digital payment codes, and also cooperate with other industry groups.

March 4, 2014

While debate goes on about the use of technology to reduce the potential for credit card fraud, there are basic operational steps that retailers can take now to protect customer data and minimize risk. And the starting point should be to draw up a statement of standard operating procedures (SOP) for everyone in the organization.

February 26, 2014

The National Retail Federation is officially recognizing the financial institution JPMorgan Chase & Co. for its decision to issue Europay, Mastercard and Visa (EMV)-compliant payment cards that require customers to enter a personal identification number, as well as store their personal data in an encrypted microchip.

Washington, D.C. -- The National Retail Federation (NRF) is officially recognizing the financial institution JPMorgan Chase & Co. for its decision to issue Europay, Mastercard and Visa (EMV)-compliant payment cards that require customers to enter a personal identification number (PIN), as well as store their personal data in an encrypted microchip.

February 12, 2014

A new Verizon report has found that too many businesses, following their annual assessment for meeting the Payment Card Industry Data Security Standard, fail to maintain ongoing compliance – putting the businesses at an increased risk for data breaches, and financial and reputational damages.

New York - A new Verizon report has found that too many businesses, following their annual assessment for meeting the Payment Card Industry Data Security Standard, fail to maintain ongoing compliance – putting the businesses at an increased risk for data breaches, and financial and reputational damages.

January 30, 2014

Global credit and debit card issuer Visa Inc. has publicly called for adoption of secure payment technology in response to recent high-profile retailer data breaches.

Foster City, Calif. – Global credit and debit card issuer Visa Inc. has publicly called for adoption of secure payment technology in response to recent high-profile retailer data breaches. In a short statement contained within a financial release, Visa CEO Charlie Scharf said Visa wants to move U.S. retailers toward chip cards that use the Europass, Matercard, Visa (EMV) standard, and away from the more commonly used magnetic stripe cards.

January 13, 2014

Network and application security services provider Cybera, Inc. has reached 20,000 deployments of its payment application defined network (ADN) solution.

New York – Network and application security services provider Cybera, Inc. has reached 20,000 deployments of its payment application defined network (ADN) solution. An AND is an enterprise data network using virtual network and security components to provide a dedicated logical network for each application, with customized security and network policies to meet the requirements of that specific application.

January 13, 2014

VeriFone Systems announced that The Jones Group Inc. has selected VeriFone solutions to enable mobile payment acceptance and enhance customer experience for its internationally recognized brands, including Jones New York and Nine West.

New York -- VeriFone Systems announced that The Jones Group Inc. has selected VeriFone solutions to enable mobile payment acceptance and enhance customer experience for its internationally recognized brands, including Jones New York and Nine West.

VeriFone will upgrade the brands’ payment environments with its PAYware Mobile e210 mobile point-of-sale (mPOS) solution and the MX 915, an NFC-enabled, multi-media payment terminal.
 

January 10, 2014

Target Corp. on Friday cuts its profit forecast on the heels of disappointing fourth quarter same-store sales.

Minneapolis -- Target Corp. on Friday cuts its profit forecast on the heels of disappointing fourth quarter same-store sales. The retailer also disclosed that its previously announced data breach involved many more people was much wider than it initially thought.

December 12, 2013

MasterCard plans to expand its world headquarters in Purchase, N.Y., suburbs and open a technology lab in Manhattan, the Associated Press reported.

New York -- MasterCard plans to expand its world headquarters in Purchase, N.Y.,  suburbs and open a technology lab in Manhattan, the Associated Press reported.

The report said that MasterCard is investing several million dollars to open a new mobile e-commerce technology lab in New York City, which will lead to 122 new research and development and software jobs in Manhattan.

 

November 27, 2013

MasterCard and global online payment provider Ogone are partnering on the integration and deployment of MasterPass.

Purchase, N.Y. -- MasterCard  and global online payment provider Ogone are partnering on the integration and deployment of MasterPass. This collaboration which covers Belgium, The Netherlands, France, United Kingdom, Germany and Spain in a first phase and the remaining countries Ogone operates in later on.

November 11, 2013

Version 3.0 of the PCI Data Security Standards (PCI DSS) and Payment Application Data Security Standard (PA-DSS) has been published and will become effective on January 1, 2014.

New York -- Version 3.0 of the PCI Data Security Standards (PCI DSS) and Payment Application Data Security Standard (PA-DSS) has been published and will become effective on January 1, 2014.

The PCI Security Standards Council (PCI SSC), a global forum for the development of payment card security standards, published version 3.0 to its website, but version 2.0 will remain active until Dec. 31 to ensure adequate time for organization to make the transition.

September 24, 2013

VeriFone Systems, a leading global secure electronic payments provider, named Paul Galant as CEO and elected him to its board of directors, effective Oct. 1.

New York -- VeriFone Systems, a leading global secure electronic payments provider, named Paul Galant as CEO and elected him to its board of directors, effective Oct. 1.

Prior to joining VeriFone, Galant served as the CEO of Citigroup Inc.’s Enterprise Payments business. Before that, from 2009, Galant served as CEO of Citi Cards, heading Citigroup’s North American and International Consumer Credit Cards business.

May 23, 2013

A group of large U.S. retailers – including Macy’s, Target and J.C. Penney – filed suit against Visa and MasterCard on Thursday, abandoning a proposed $7.2 billion settlement reached last year over allegedly inflated credit card processing fees.