Content about Debit card

September 22, 2014

A class-action settlement RadioShack Corp. reached with consumers that offered them $10 vouchers as compensation for printing their credit and debit card expiration dates on receipts has reportedly been overturned by the 7th U.S. Circuit Court of Appeals in Chicago.

Fort Worth, Texas – A class-action settlement RadioShack Corp. reached with consumers that offered them $10 vouchers as compensation for printing their credit and debit card expiration dates on receipts has reportedly been overturned by the 7th U.S. Circuit Court of Appeals in Chicago. According to Reuters, a panel of three federal judges said the total $1 million settlement is too small considering the amount of legal fees that must be paid.

September 19, 2014

Home Depot Inc. confirmed that some 56 million payment cards were likely compromised in a data breach that went undetected for five months.

Atlanta -- Home Depot Inc. confirmed that some 56 million payment cards were likely compromised in a data breach that went undetected for five months. It is the largest known breach of a retail company’s computer network to date. By comparison, the widely publicized breach at Target last December affected 40 million credit and debit cards.

September 4, 2014

The alleged security breach that recently hit The Home Depot Inc. may have compromised credit and debit card data at nearly all of the company’s stores.

Atlanta – The alleged security breach that recently hit The Home Depot Inc. may have compromised credit and debit card data at nearly all of the company’s stores. According to the security website Krebsonsecurity.com, the unique ZIP codes of a large batch of new cards listed for sale on underground hacker sites shows a more than 99% overlap with nearby Home Depot stores, suggesting a widespread breach.

August 18, 2014

The National Retail Federation on Monday told the U.S. Supreme Court that the debate over debit card swipe fees is “of staggering importance” and asked the justices to review a ruling that left the Federal Reserve’s cap on the billions of transactions conducted each year at 21 cents rather than reducing it to a lower level.


Washington, D.C. -- The National Retail Federation on Monday told the U.S. Supreme Court that the debate over debit card swipe fees is “of staggering importance” and asked the justices to review a ruling that left the Federal Reserve’s cap on the billions of transactions conducted each year at 21 cents rather than reducing it to a lower level.


August 13, 2014

Amazon.com has entered into direct competition with digital payment providers Square and PayPal by releasing Amazon Local Register, a secure card reader and mobile app that allows retailers to accept credit and debit cards from a smartphone or tablet.

Seattle – Amazon.com has entered into direct competition with digital payment providers Square and PayPal by releasing Amazon Local Register, a secure card reader and mobile app that allows retailers to accept credit and debit cards from a smartphone or tablet. Users create an account, purchase a $10 card reader, and download a free mobile app.

August 7, 2014

Bindo, a retail technology company, is launching a mobile Europay, MasterCard, Visa (EMV)-compliant credit card reader for its cloud-based iPad point-of-sale (POS) system.

New York -- Bindo, a retail technology company, is launching a mobile Europay, MasterCard, Visa (EMV)-compliant credit card reader for its cloud-based iPad point-of-sale (POS) system.

Bindo’s newly developed EMV reader has full end-to-end encryption with its iPad POS system and is both EMV Level 1 and Level 2 certified in the U.S.

August 5, 2014

On dates ranging from October 19, 2013 and April 10, 2014, hackers compromised the security of credit card processing systems at 33 locations of the P.F. Chang’s restaurant chain in Florida, Maryland, New Jersey, Pennsylvania, Nevada and North Carolina, and may have stolen consumer credit card data.

Scottsdale, Ariz. – On dates ranging from October 19, 2013 and April 10, 2014, hackers compromised the security of credit card processing systems at 33 locations of the P.F. Chang’s restaurant chain in Florida, Maryland, New Jersey, Pennsylvania, Nevada and North Carolina, and may have stolen consumer credit card data. The U.S. Secret Service notified P.F. Chang’s of the breach on June 10, 2014 and P.F. Chang’s says it has been processing credit card numbers securely since June 11.

July 23, 2014

Card.com, a provider of mobile prepaid debit cards, is partnering with IDology, a vendor of technology solutions that verify an individual’s identity and deter fraud anywhere in the payments value chain.

Atlanta - Card.com, a provider of mobile prepaid debit cards, is partnering with IDology, a vendor of technology solutions that verify an individual’s identity and deter fraud anywhere in the payments value chain. Card.com has integrated IDology’s real-time, on demand identity verification and fraud prevention solution into their Customer Identification Program (CIP) process in order to improve their customer approval cycle, streamlining customer onboarding while also preventing fraud.

July 14, 2014

Consumer spending slowed in June but remained positive on a year-over-year basis with a growth of 3%, according to First Data SpendTrend analysis, which tracks same-store point-of-sale data by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks from nearly four million merchant locations serviced by First Data.

Atlanta -- Consumer spending slowed in June but remained positive on a year-over-year basis with a growth of 3%, according to First Data SpendTrend analysis, which tracks same-store point-of-sale data by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks from nearly four million merchant locations serviced by First Data.

June 13, 2014

P.F. Chang's Chain Bistro confirmed Friday that it had been the victim of a data breach in which data was stolen from customers’ credit and debit cards used at its restaurants.

NEW YORK — P.F. Chang's Chain Bistro confirmed Friday that it had been the victim of a data breach in which data was stolen from customers’ credit and debit cards used at its restaurants.

June 12, 2014

P.F. Chang’s China Bistro Inc. is the latest retailer to investigate a possible data breach.

Scottsdale, Ariz. — P.F. Chang’s China Bistro Inc. is the latest retailer to investigate a possible data breach.

The retailer emailed has been contacted by banks and law enforcement agencies about online reports that credit card and debit card numbers matching ones used at P.F. Chang’s locations between March and May 2o14 have appeared for sale on underground hacker websites.

Media reports indicate the U.S. Secret Service is also investigating the potential breach, although the Secret Service has not publicly commented.

 

May 27, 2014

While the reach of mobile devices has grown dramatically in recent years, we’ve failed to realize the promise of using this ubiquitous device as a mobile wallet.

By Rob Stringer, Cortex MCP

April 9, 2014

Forte Payment Systems is launching Forte Checkout, an intuitive platform for online payment acceptance that supports electronic check in addition to credit and debit card payment methods.

Allen, Texas -- Forte Payment Systems is launching Forte Checkout, an intuitive platform for online payment acceptance that supports electronic check in addition to credit and debit card payment methods. Forte Checkout integrates seamlessly and securely to applications that need payment handling capabilities.

April 9, 2014

VeriFone Systems Inc. plans to release the VX 690, a handheld EMV-capable payment terminal featuring Bluetooth, 3G radio and Wi-Fi connectivity for fast transactions and flexible payment capabilities, in late 2014.

San Jose, Calif. -- VeriFone Systems Inc. plans to release the VX 690, a handheld EMV-capable payment terminal featuring Bluetooth, 3G radio and Wi-Fi connectivity for fast transactions and flexible payment capabilities, in late 2014. The terminal is PCI PTS 3.0 compliant and features built-in security protection that includes end-to-end encryption to protect data at every point of the transaction.

April 7, 2014

While a majority of the most popular prepaid debit cards charge monthly fees, specific fee structures vary widely.

New York – While a majority of the most popular prepaid debit cards charge monthly fees, specific fee structures vary widely. According to a study of 30 of the most widely held prepaid debit cards conducted by Bankrate.com, 83% of the prepaid cards surveyed charge monthly fees, but 33% will waive them, typically based upon the amount loaded onto the card.

April 3, 2014

Despite a slight decrease in corporate payments fraud and a heightened interest in security risks, 2013 saw an increase in fraud specific to credit and debit cards as criminals and their schemes became more sophisticated, according to the 2014 AFP Payments Fraud and Control Survey released by the Association for Financial Professionals (AFP).

Washington, D.C. -- Despite a slight decrease in corporate payments fraud and a heightened interest in security risks, 2013 saw an increase in fraud specific to credit and debit cards as criminals and their schemes became more sophisticated, according to the 2014 AFP Payments Fraud and Control Survey released by the Association for Financial Professionals (AFP).

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 21, 2014

The U.S. Appeals Court for the District of Columbia on Friday overturned a lower court's decision in July that favored the merchants and was a setback for banks.

Washington, D.C. -- The U.S. Appeals Court for the District of Columbia on Friday overturned a lower court's decision in July that favored the merchants and was a setback for banks. The National Retail Federation expressed disappointment with the decision, which will keep the Federal Reserve’s cap on debit card swipe fees at 21 cents rather than reducing it to a lower level.

March 12, 2014

Severe winter weather hindered shopping activity in February, according to First Data Corp.'s SpendTrend report, which tracks same-store POS data by credit and debit cards, closed loop prepaid cards, EBT, and checks from the nearly four million retail locations serviced by First Data.

Atlanta -- Severe winter weather hindered shopping activity in February, according to First Data Corp.'s SpendTrend report, which tracks same-store POS data by credit and debit cards, closed loop prepaid cards, EBT, and checks from the nearly four million retail locations serviced by First Data.

Consumer spending was also restrained by the termination of emergency unemployment insurance, a reduction in food stamp benefits and low-income growth, First Data said.

March 7, 2014

Only about four-in-10 (39%) of consumers are "very confident" that using a credit or debit card was safe. Half (49%) of consumers surveyed were only "somewhat confident."

Lenexa, Kan. - Only about four-in-10 (39%) of consumers are "very confident" that using a credit or debit card was safe. Half (49%) of consumers surveyed were only "somewhat confident." In light of the mass retail payment security breaches in recent months, Balance Innovations surveyed shoppers about their confidence in using credit and debit cards at their primary grocery store and whether they have changed their payment methods in response.

March 4, 2014

The data security breaches at Target and Neiman Marcus have put a white-hot fire under the push for the adoption of microchip-based credit-card technology to replace the traditional (and, many would say, backward) U.S. standard of magnetic strip cards.

The data security breaches at Target and Neiman Marcus have put a white-hot fire under the push for the adoption of microchip-based credit-card technology to replace the traditional (and, many would say, backward) U.S. standard of magnetic strip cards. (The latter store unencrypted customer data on magnetic stripes.) Advocates of the chip cards, which store encrypted customer data on embedded microchips, say their use minimize the risk of data breaches at the POS.

But how exactly do chip-enabled cards work, and how much additional protection do they really offer?

February 3, 2014

The National Retail Federation on Monday urged Congress to take a comprehensive approach as it contemplates a national response to criminal cyber attacks in which millions of consumers’ credit and debit card numbers were stolen.

Washington, D.C. -- The National Retail Federation on Monday urged Congress to take a comprehensive approach as it contemplates a national response to criminal cyber attacks in which millions of consumers’ credit and debit card numbers were stolen. NRF said retailers are willing to do their part to improve security, but that banks and card companies must also take major steps to shore up the current fraud-prone payments system.

January 31, 2014

The National Retail Federation (NRF) is scheduled to testify before a Senate committee the week of Feb. 3, as lawmakers begin to look into criminal attacks in which millions of consumers’ credit and debit card numbers were stolen.

Washington, D.C. – The National Retail Federation (NRF) is scheduled to testify before a Senate committee the week of Feb. 3, as lawmakers begin to look into criminal attacks in which millions of consumers’ credit and debit card numbers were stolen.

January 30, 2014

Target reportedly said a data breach at an unidentified vendor led to hackers obtaining phony credentials that allowed them to gain access to Target’s systems and steal the information for 40 million credit and debit cards, as well as the personal data of about 70 million consumers.

Minneapolis – Target reportedly said a data breach at an unidentified vendor led to hackers obtaining phony credentials that allowed them to gain access to Target’s systems and steal the information for 40 million credit and debit cards, as well as the personal data of about 70 million consumers. According to the Associated Press, Target did not offer any specific details on who the vendor was or how hackers obtained the credentials.