Data Breach at FireKeepers Casino; 85,000 Cards at Risk

After two months of investigation, FireKeepers Casino and Hotel in Michigan has confirmed a data breach on their computer systems and payment card processors. The company began its investigation in May, and has now verified that a breach did occur … Continue reading

LowCards.com Weekly Credit Card Update–June 26, 2015

Who's Addicted to Mobile Banking Are consumers addicted to mobile banking? Well, if pulling out a mobile phone to check a bank account balance during dinner--and even on a date--qualifies as addictive, then the answer is yes. A Chase-commissioned survey … Continue reading

MasterCard is First International Payments Network in Somalia

MasterCard has become the first international payments network in Somalia, thanks to a partnership with Premier Bank. The bank will issue a co-branded payments card and provide ATM services in Somalia, with prepaid cards and point of sale terminals to … Continue reading

BitStamp Launches Bitcoin Debit Card in Europe

The European Bitcoin platform BitStamp has launched a prepaid debit card that can be used anywhere major credit or debit cards are accepted. The Bitcoins loaded onto the card can be converted to Euros, British pounds or American dollars for … Continue reading

LowCards.com Weekly Credit Card Update–May 29, 2015

As Chip Cards Become Norm, Other Fraud Targets Rise Studies show a climb in the number of "digital shoppers" in the U.S. every year from 2010 with growth expected to continue. But as more buy online, security experts say "Card … Continue reading

MasterCard Send, A New Digitial Payment Service

MasterCard is aiming to change the way people transfer money between debit cards, thanks to its new program called MasterCard Send. This "first-of-its-kind, global personal payments platform" allows consumers to send and receive funds within seconds, rather than waiting for … Continue reading

How Debit Cards Began

Debit cards are now considered part of the "norm" of day-to-day life. After all, when is the last time you pulled out a checkbook to pay for your groceries? As common as these cards are, they were practically unheard of … Continue reading

Oregon Student Debit Card Bill Passes House

A new bill aiming to regulate student debit cards has made its way through the Oregon House and is now headed to the state Senate. HB 2832 is designed to set up federal guidelines for colleges and universities that sign … Continue reading

LowCards.com Weekly Credit Card Update–April 17, 2015

Discover Rolls Out Freeze Feature on Credit Cards Discover credit card customers who can't quite put their finger on their plastic now may use a new "Freeze It" feature that acts like an on-off switch to stop new purchases and … Continue reading

LowCards.com Weekly Credit Card Update–April 10, 2015

Walmart Exec: New Credit Card Design Won't Solve Fraud There's been some hope that improved credit card technology might finally lead to greater security and a reduction of credit card fraud. One idea has been credit cards with embedded chips, … Continue reading

College Students Face up to $710 a Year in Overdraft Fees

College students are particularly vulnerable to excessive overdraft fees from bank debit cards, according to the latest research from the Center for Responsible Lending. The study showed that nearly four out of ten college students (39%) between the ages of … Continue reading

Bitwage and Xapo Partner for International Payroll Debit Card

Bitcoin payroll service Bitwage has partnered with Xapo to create an international payroll debit card that works with the cybercurrency. The new card is designed to help companies pay overseas employees, similar to what they may do through PayPal or … Continue reading

Walmart Exec Says Chip and Signature Won’t Enhance Card Security

Walmart's assistant treasurer Mike Cook is speaking out about the predicted disappointment with chip and signature credit cards, indicating that Americans will still be vulnerable to theft after the shift. In an interview about the changing card infrastructure, Cook told … Continue reading

Oink Card Lets Kids Shop Online But Parents Control Spending

A new debit card known as Oink gives children the ability to make purchases online and at their favorite stores. Parents maintain control of the way money is spent on the card, so this may be a way for children … Continue reading

New Mexico State Senate Approves Debit Card Purchases of Lottery Tickets

The bill allowing players to buy New Mexico lottery tickets with debit cards passed the state Senate last week by a vote of 25-16. The proposed law would give people more payment options when consumers buy their lottery tickets, which … Continue reading

LowCards.com Weekly Credit Card Update–February 13, 2015

Why Some People Still Have Hidden Bank or Credit Card Accounts More than 7 million Americans, including 4.4 million men and 2.8 million women have hidden a bank or credit card account from their live-in spouse or partner, according to … Continue reading

MasterPass Expands to More Merchants

MasterPass, MasterCard's digital wallet, will now be an acceptable payment method at several major retailers. Some of these include Blue Nile, Office Depot, Broadway.com, Chegg, Shop.com, CheapO Air, Neiman Marcus and Rue La La. MasterPass can also be used to … Continue reading

LowCards.com Weekly Credit Card Update–January 23, 2015

More Than 90% of Data Breaches Could Have Been Avoided Nine out of 10 data breaches that occurred in the first half of last year could have been avoided, according to a new report. The report, which analyzed more than … Continue reading

College Credit Card Agreements Decline As More Debit Card Deals Emerge

The Consumer Federal Protection Bureau recently reported a nearly 70% decline in college credit card agreements since Congress established regulations for disclosures in 2009. Educational institutions are now forced to be completely transparent when offering credit cards to students, and it seems … Continue reading

LowCards.com Weekly Credit Card Update–December 19, 2014

Apple Pay Grows to Support 90% of U.S. Credit Cards Apple Pay has been adding support for more credit cards in the United States since the service launched. By transaction volume, the service now supports 90% of the credit cards … Continue reading

MasterCard to Enter Canada’s Debit Card Market in 2015

MasterCard recently announced it will be entering Canada's debit card market in 2015 in an effort to build its business outside of the United States. Rival Visa already operates in the Canadian debit card market, and it could face heavy … Continue reading

Discover Sues Visa Over Debit Card Practices

Discover Financial Services is suing Visa Inc for using anti-competitive practices in its debit card sector. The company alleges Visa has "undertaken a series of illegal actions that undermine competition--harming rival debit networks, merchants, acquirers, card issuers, and consumers." Discover is … Continue reading

Apple Making App Store More Convenient for Chinese Cardholders

In an effort to improve convenience for Chinese credit and debit cardholders, Apple has revamped its App Store specifically for China UnionPay cards. The new options available through the App Store will open the doors for more than 4.5 billion … Continue reading

Canada May Allow Merchants to Decline Mobile Card Payments

As mobile payments increase in popularity, merchants in Canada are concerned about a possible increase in fees. As a result, the country's Finance Minister may announce an adjustment in Canada's code of conduct for credit and debit cards, allowing merchants to … Continue reading

LowCards.com Weekly Credit Card Update–November 14, 2014

New Consumer Protections for Prepaid Cards The Consumer Financial Protection Bureau is extending many of the financial protections of bank accounts to prepaid cards. New rules proposed Thursday by the federal regulator would require that prepaid card users be protected … Continue reading

Debit Cards Decline in Popularity

A new report indicates debit cards are dropping in popularity, even though they remain the most common form of payment in America. According to the TSYS's 2014 Consumer Payment Study, the decline is primarily motivated by security fears from the number … Continue reading

Voxis Allows Cybercriminals to Automate Fraudulent Credit Card Purchases

Cybercriminals have a new way to get as much money from stolen credit cards as possible before being detected for fraud. A program called Voxis Platform is starting to surface on underground forums, allowing thieves to make large volumes of … Continue reading

LowCards.com Weekly Credit Card Update–October 31, 2014

Some U.S. Retailers Shun Apple Pay, Eye Rival Payments System Some large U.S. retailers are refusing to use Apple Pay, Apple's new electronic payments service, as they commit to developing a rival payments system that would bolster their profits by … Continue reading

China Will Allow Foreign Companies to Process Credit Card Payments

For the first time, China may be giving foreign companies the opportunity to process credit card payments, according to a Cabinet statement yesterday. This will allow banks in China to issue credit and debit cards through companies like Visa and … Continue reading

LowCards.com Weekly Credit Card Update–October 24, 2014

Staples Investigates Reports of Possible Credit Card Data Breach The world's biggest office-supply retailer is investigating reports of a possible data breach of Staples customers' credit cards after banks detected a pattern of unusual charges concentrating on a group of … Continue reading

Staples Investigating Potential Data Breach

Staples may be the latest victim of a debit and credit card breach. The office supply chain announced late yesterday that it is investigating a potential data breach at several locations. According to security expert Brian Krebs, several banks identified … Continue reading

President Obama Tightens Security on Government-Issued Debit Cards

Even the federal government is feeling uneasy about the security of debit and credit cards. Reacting to the incredible number of data breaches at major retail chains, the United States government will now require that all federal benefits issued via … Continue reading

LowCards.com Weekly Credit Card Update–October 17, 2014

Kmart Says its Store Registers Were Hacked, Exposing Credit Cards For about a month, Kmart says, its stores' checkout registers were "compromised by malicious software that stole customer credit and debit card information." The company, owned by Sears, says it … Continue reading

Apple Pay to Launch Monday

Apple Pay, a revolutionary new payment system where consumers can make payments with a touch of their finger on their new iPhone 6 and iPhone 6 Plus, will launch this Monday, October 20. Apple Pay allows consumers to store their … Continue reading

Did the Durbin Amendment Make a Difference?

The Durbin Amendment contained a provision that limited the interchange fees merchants paid for debit card transactions. The thought was that retailers would lower their prices if these high swipe fees were decreased. But on the third anniversary of this … Continue reading

Dairy Queen Confirms Data Breach in 395 Stores

International Dairy Queen has confirmed a data breach did take place in 395 locations and may have affected nearly 600,000 debit and credit cards. After an investigation that began in August, the company found that Backoff malware, used in so … Continue reading

LowCards.com Weekly Credit Card Update–October 10, 2014

Banks in U.S. Moving to Chip-Based Debit and Credit Cards In the coming year, banks in the United States are likely to replace debit or credit cards with versions that have tiny computer chips embedded in them, a move aimed … Continue reading

How To Use Credit Card Chip & PIN Technology

America is now a year away from an October 2015 deadline when all banks, retailers and credit card providers will transition to chip and PIN cards in order to strengthen credit card security. All of the cards currently in your wallet … Continue reading

Bank of America Distributes Chip and PIN Debit Cards

Bank of America became the first major U.S. bank to issue chip and PIN debit cards to its customers. The bank already offers EMV credit cards, but will now issue chipped debit cards to customers as their cards expire. Bank … Continue reading

LowCards.com Weekly Credit Card Update–October 3, 2014

Cyberattack Against JPMorgan Chase Affects 76 Million Households A cyberattack this summer on JPMorgan Chase compromised the accounts of 76 million households and seven million small businesses, a tally that dwarfs previous estimates by the bank and puts the intrusion … Continue reading

Aldi Now Accepting Credit Cards in England

Aldi, the retail food chain best known for its low prices, will lift the credit card ban for its stores in England beginning October 13. Until now, the store has operated on a cash and debit card payment system, but … Continue reading

Pay Rent with a Credit Card, Thanks to New App

A new app known as RadPad allows users to pay rent with a credit card, even if the landlord does not accept credit card payments. For landlords who are signed up with RadPad, the app sends money from the tenants … Continue reading

Data Breach at 216 Jimmy John’s Locations

Jimmy John's is the latest company to suffer a major data breach. The sandwich shop chain confirmed today that criminals hacked into their point of sale systems at 216 stores and accessed customer debit and credit card information. The breach … Continue reading