Fantasy Sports Lawsuit Takes Aim at Credit Card Companies

A new class action lawsuit filed in New York could alter the way credit card companies interact with fantasy sports sites. The suit alleges that Visa, MasterCard, American Express, and other banks are facilitating illegal gambling operations online by accepting … Continue reading

10 Credit Card Tips to Better Manage Holiday Spending

We are approaching one of the biggest shopping weekends of the year. Nearly 136 million people plan to shop over the four-day Thanksgiving weekend according to the National Retail Federation. Consumers are projected to spend an average of $805 during … Continue reading Weekly Credit Card Update–November 20, 2015

First U.S. Debit Card Ready for Use in Cuba Americans visiting Cuba can finally put away their cash and pull out their debit card. MasterCard and Fort Lauderdale-based Stonegate Bank announced Thursday that their cards are now active for use … Continue reading Weekly Credit Card Update–November 6, 2015

How Your Voice Can Protect You from Credit Card Fraud That call to your bank is being recorded for more than just "quality assurance purposes." Some banks are using voice biometrics and other technology to help determine who is calling … Continue reading

RushCard to Compensate PrePaid Debit Card Users for Outage

On October 29, RushCard announced it is creating a "multi-million dollar" fund to cover the costs that its prepaid debit card customers incurred after their cards stopped working in mid-October. When RushCard moved to a new payment processor on October 12, technical problems … Continue reading Weekly Credit Card Update–October 30, 2015

Walmart Exec Predicts New Credit Card Chip Technology Will Cause Black Friday 'Anarchy' A Walmart executive is predicting "anarchy" this holiday shopping season due to new rules in place requiring retailers to accept chip-embedded credit cards from consumers. The exec … Continue reading

MasterCard Launches Selfie Pay for Online Purchases

MasterCard has been working on its facial recognition identity verification program for months, and it is finally coming to market. The MasterCard Identity Check platform, formerly known as "Selfie Pay", allows users to authorize online purchases with a simple snap … Continue reading

MasterCard Aims to Make Any Gadget a Payment Device

Yesterday, MasterCard announced that consumers will soon be able to pay for products from their cars, fashion accessories, technological devices, wearables, and categories that have not yet been imagined. This program will provide a high level of security, and give … Continue reading

USAA Moves Credit Portfolio from MasterCard to Visa

USAA, one of the largest issuers of debit and credit cards in the United States, has announced it will move its portfolio to Visa after a 30-year relationship with MasterCard. The United Services Automobile Association provides financial planning, banking and insurance … Continue reading

MasterCard Launches Safety Net Program for Cybersecurity

To help protect banks and payment processors against cyber hacking, MasterCard has developed a special program called Safety Net that identifies potential threats before they turn into full-blown attacks. The program is designed to screen billions of transactions a day … Continue reading

Could Facial Recognition Eliminate Passwords By 2020?

Is it possible that selfies could replace passwords within five years? The security gurus at MasterCard think that could happen. "I think it will take three to five years for passwords to die out," Ajay Bhalla, president of enterprise security solutions … Continue reading

MasterCard Makes Aid Distribution Easier and More Transparent

Last Thursday, MasterCard launched its MasterCard Aid Network. This program will make it easier for individuals and humanitarian organizations to provide aid to areas facing political and economic unrest. This is a non-financial service that allows impacted populations the ability … Continue reading Weekly Credit Card Update–September 25, 2015

What's the Chip in Your New Credit Card Do? The microchip on your credit or debit card helps make it more difficult for fraudsters in two important ways. It makes it harder to physically counterfeit the card and it creates … Continue reading

Study Reveals What Consumers Want from Mobile Payments

A first-of-its-kind global study reveals what consumers want from the mobile payment market. According to the survey, consumers are seeking out newer, more convenient ways to pay for items. What makes this study rather unique is the methodology used for gathering … Continue reading Weekly Credit Card Update–September 11, 2015

Consumer Credit in U.S. Increased More Than Forecast in July Consumer credit in the U.S. rose more than projected in July, boosted by bigger credit card balances and loans for automobiles. The $19.1 billion increase followed a $27 billion gain … Continue reading

Free EMV Card Readers Available for Small Businesses

Small businesses enrolled in the MasterCard Easy Savings program may now receive a free EMV card reader, courtesy of ShopKeep. The new partnership also gives small business owners a 20% discount on point-of-sale hardware, including cash drawers, printers and other … Continue reading

Visa vs. MasterCard–Which One Is Better For Me?

The world is filled with near duopolies, two companies that dominate a market--from Burger King and McDonald's to Boeing and Airbus. And when talking about the credit card industry, it can be difficult not to mention Visa and MasterCard in … Continue reading Weekly Credit Card Update–August 28, 2015

Banks Offering Mobile Banking But Consumers Slow to Adapt Financial institutions are offering mobile banking faster than consumers are adapting to it, according to a recently published survey from the Federal Reserve Bank of Boston. Banks and credit unions are … Continue reading

MasterCard Tests ‘Selfie Pay’, Facial Recognition Technology

MasterCard is testing new facial recognition technology that would allow users to verify payments with a quick photo. Dubbed "Selfie Pay," this new system will soon be tested in the United States and the Netherlands. To use Selfie Pay, an account … Continue reading Weekly Credit Card Update–July 31, 2015

Could Mike Tyson Become The New Face For Bitcoin? Although bitcoin has taken some major steps toward mainstream adoption over the past year, the cryptocurrency's user base is still largely dominated by tech-savvy individuals who see digital currencies as an … Continue reading

Americans Would Rather Have Nude Photos Stolen Than Financial Data

According to a new survey from MasterCard, 77% of Americans worry about the security of their personal information. 62% worry about their emails getting hacked, and 46% worry about being pickpocketed. But what is more surprising is the value that … Continue reading Weekly Credit Card Update–June 19, 2015

Almost One in Six US Consumers are Using Mobile Wallets Almost one in six US consumers (15%) have used a mobile wallet in the past six months, up from 9% in the same period in 2013, and an additional 22% … Continue reading

MasterCard To Provide Tokenization for Private Label Credit Cards

MasterCard has become the first payment provider to extend tokenization services to store branded credit cards. Tokenization is a unique security feature that credit card providers will adapt in the near future. Rather than collecting card data from their customers, … Continue reading

Google Receives Major Support for Android Pay

Last week, Google announced that its mobile payment platform, Android Pay, will be available on Android tablets and smartphones. In the short time since its unveiling, the Apple Pay competitor has already received substantial support from a number of large … Continue reading 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

MasterCard’s Chip 360 Helps Businesses Switch to EMV

MasterCard has made a commitment to help small businesses transition to EMV credit card technology before the October, 2015 deadline. The credit card giant has launched Chip 360, a program designed to educate business owners on the steps needed for … Continue reading

OneBit App Makes Bitcoins Acceptable at MasterCard PayPass Terminals

In an effort to bring Bitcoins into the mainstream payments market, a group of participants from the MasterCard Masters of Code hackathon developed an application that ties Bitcoins with MasterCard's PayPass technology. The application, known as OneBit, allows Bitcoin users … Continue reading

MasterCard’s “In Reach” Program Helps Millennials Reach Career and Financial Goals

In an effort to improve the financial literacy of upcoming generations, MasterCard has created the "in reach" program to teach Millennials how to better manage their money and their careers. The information provided in the program is derived from a … Continue reading

SmartMetric Wins $3 Million Fee Dispute with MasterCard and Visa

SmartMetric successfully won a legal fee dispute with Visa and MasterCard, which would have cost the company $3 million in fees and court costs. The case dealt with the biometric technology the two credit card giants claimed acted as patent … Continue reading

Citi and MasterCard Sign Expanded Deal on Consumer Credit Cards

Citigroup Inc. has reached an agreement to shift some of its consumer credit cards to MasterCard over the course of the next 10 years. The company said it will continue to maintain Citi credit cards on other networks, including consumer … Continue reading Weekly Credit Card Update–March 6, 2015

Retailers Face $8.65 Billion Bill for New Generation of Credit Cards New technology about to be deployed by credit card companies will require U.S. consumers to carry a new kind of card and retailers across the nation to upgrade payment … Continue reading Weekly Credit Card Update–February 27, 2015

Google Buys Softcard, Teams Up with Carriers on Mobile Payments Google and the mobile carriers have long been at odds over mobile payments, but faced with the runaway success of Apple Pay, the two rivals have become friends. AT&T, Verizon … Continue reading Weekly Credit Card Update–February 20, 2015

In Challenge to Apple Pay, Samsung Buys Mobile Payment Company Samsung is buying mobile-payment startup LoopPay as the Korean phone maker steps up to challenge Apple and its payment system on iPhones. The deal strengthens speculation that Samsung Electronics plans … Continue reading

MasterCard Commits $20 Million to Enhance Cybersecurity

Credit card companies, retailers and payment networks are all feeling the heat after a year of massive data breaches and countless cases of identity theft. MasterCard is now taking some major steps to protect their customers with a $20 million … Continue reading

Costco, American Express to End Exclusive Partnership in U.S.

The exclusive relationship between American Express and Costco will end in the retailer’s United States stores on March 31, 2016, the credit card issuer announced this morning. The Canadian division of Costco made a similar decision in September of last … Continue reading

Americans Saving, Not Spending, Extra Money from Low Gas Prices

The unexpectedly low gas prices in America have not resulted in increased consumer spending. Instead, Americans seem to be putting their money away for a rainy day or paying down existing debts with the money they've saved. A study from … 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,, Chegg,, CheapO Air, Neiman Marcus and Rue La La. MasterPass can also be used to … Continue reading Weekly Credit Card Update–January 30, 2015

Apple Pay Accounts for $2 out of every $3 Spent with Contactless Payments Apple CEO Tim Cook said that around $2 out of every $3 spent using contactless payments across Visa, MasterCard, and American Express are being made with Apple … Continue reading 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

MasterCard Signs Agreement with Gujarat to Accelerate Electronic Payments

MasterCard has signed a Memorandum of Understanding (MOU) with the State Government of Gujarat to cooperate in accelerating the adoption of electronic payments for the government, businesses, tourism and transit industries. The agreement will improve the speed and transparency of … Continue reading

A Truly “Green” Credit Card Hits The Market

Credit card issuers have marketed their cards to specific target audiences for years. Frequent fliers, bookworms, NFL fans, home fixer-uppers, students, travelers, NASCAR fans....and now, people concerned about climate change. Today, a biodegradable MasterCard that helps combat climate change hit … Continue reading

Google Sues Visa and MasterCard for Excessive Interchange Fees

Google has filed a lawsuit against Visa and MasterCard for high interchange fees, which the search engine says are in violation of Section 1 of the Sherman Act. Google filed a three-page complaint with the U.S. District Court in the … Continue reading

MasterCard and BMW Create Contactless Credit Card for DriveNow Car Sharing

MasterCard and BMW have joined forces to create a contactless credit card that can be used with BMW and MINI vehicles on the DriveNow car sharing fleet. The card has the ability to hire, unlock and operate the vehicles, all … Continue reading Weekly Credit Card Update–December 26, 2014

Staples Estimates Hackers Breached 1.16 Million Credit Cards Staples confirmed that suspicious cyber activity, first spotted in September, was most likely a malware attack that may have breached 1.16 million credit cards. A preliminary investigation found evidence of malware installed … Continue reading Weekly Credit Card Update–December 12, 2014

Bebe Stores Confirms Credit Card Breach Women's clothier chain Bebe stores inc. confirmed that hackers had stolen customer card data from stores across the country in a breach that persisted for several weeks last month. Bebe stores said its investigation … 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 Weekly Credit Card Update–December 5, 2014

What Happens When You Swipe Your Card? This holiday shopping season, you might worry that every time you swipe your credit or debit card some criminal might be swiping your account number and with good reason. The number of reported, … Continue reading

Consumers Plan to Use Credit Cards for Holiday Shopping

Americans have seen a number of substantial data breaches since last year's holiday season, but that has not had a major effect on how they plan to pay for their items this Christmas. A new survey from TransUnion shows 80% of … Continue reading