Best Buy Replaces MasterCard with Visa for Branded Credit Cards

Best Buy is switching to a new credit card processor in 2015, choosing Visa over MasterCard to handle its co-branded card. Citigroup will remain the card-issuing bank, but Visa will become the processor at the beginning of the year. Reports … Continue reading

Credit Card CEOs Don’t Have to Worry About Personal Debt

Being the CEO of a credit card issuer or processor pays well. Very well. MasterCard CEO Ajay Banga's pay package last year totaled $11.3 million, an increase of 35 percent over his 2011 compensation of $8.3 million, according to the … Continue reading

Retailers Can Give Discounts to Customers Using Certain Visa Cards

Visa has lifted the ban that prohibits its retail partners from offering special deals to customers that paid with a specific bank's credit or debit card, according to the American Banker. New Visa CEO Charles Scharf was behind the change … Continue reading

Visa’s Profit Up 25 Percent Due to Growth in Credit Card Spending

Visa net profit increased 25 percent in the last three months of 2012, up from $1.03 billion a year ago to $1.29 billion. Consumers used their credit and debit cards more often during holiday shopping. Visa, the world's largest payment … Continue reading Weekly Credit Card Update December 21

Consumer Group Warns of Card Surcharges Credit cardholders must be on the watch for new check-out fees that merchants will be able to impose starting in January under a class-action settlement with Visa and MasterCard. But merchant trade groups say … Continue reading Weekly Credit Card Update October 26

Credit Card Settlement Could Stymie PayPal's Retail Plans A provision within the hotly-contested settlement between merchants and credit card networks could potentially slow PayPal's bid to become more widely accepted at grocery stores, restaurants and other retailers. Retailers that choose to … Continue reading