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MasterCard sets new standards for payroll cards
PURCHASE, N.Y. — MasterCard has set new standards for its payroll cards, and says it says should help employees take better advantage of its benefits. Payroll cards, which are similar to debit cards, are a means for an employer to pay employees. They typically are used as a way to deposit paychecks for workers who […]
Last-ditch effort to stop $6B fee fixing settlement
NEW YORK — A group of retailers and trade groups has launched a last-ditch effort to stop a settlement worth at least $6 billion that Visa Inc., MasterCard Inc. and major banks have agreed to pay retailers for alleged fee fixing. Ten out of the 19 retailers and trade groups that are plaintiffs in the […]
Groupon launches payments service
NEW YORK — Groupon launched a payment service Wednesday that allows businesses to accept credit cards using an iPhone or iPod Touch, becoming the latest company to enter the growing mobile payments market. The announcement sent the online deals company’s stock up nearly 6 percent. Groupon shares climbed 26 cents to $4.95 in midday trading. […]
Retail group says it opposes card fee settlement
NEW YORK — The National Retail Federation is opposing a proposed $7.25 billion settlement that Visa Inc., MasterCard Inc. and major banks have agreed to pay retailers for alleged fee fixing. The retail trade association said Tuesday that its board has given approval for it to go to court to try to block the settlement. […]
Lawyers wary of charging ‘swipe fees’
In the wake of a proposed settlement between credit card-issuers Visa and MasterCard and merchants that would allow vendors to pass along “swipe fees” to their customers, lawyers who accept credit card payments are grappling with the issue of whether such up-charges are a good practice.
Settlement has merchants unsure
About 80 percent of Lisa Ponzoli’s customers pay for their purchases with credit cards.
Data breach affected up to 1.5 million cards
A company that processes credit card transactions said Monday that as many as 1.5 million card numbers were compromised in a data breach early last month. The CEO of the company, Global Payments Inc., said the matter was “absolutely contained,” but Visa dropped the company from its list of approved third parties that process transactions […]
Google adds Visa, Amex, Discover cards to Wallet
NEW YORK — Google’s Wallet is getting thicker, with the addition of Visa, American Express and Discover to the search company’s payment system, which aims to make cellphones the credit cards of tomorrow. MasterCard, the other major payment processor, is already part of the project. And Google released the Wallet application Monday for one Sprint […]
Capital One to buy HSBC U.S. credit card arm
MCLEAN, Va. — Capital One Financial Corp. said Wednesday that it will buy the U.S. credit card arm of Britain’s HSBC for a premium of about $2.6 billion as a way to expand its domestic credit card business. “Adding the HSBC card business to our own will enhance our credit card franchise and accelerate our achievement […]
Slow start to spring projected for retailers
NEW YORK — A late Easter, lingering cold weather and rising gas prices are squeezing discretionary spending this spring, according to data being released Wednesday. Figures from MasterCard Advisors’ SpendingPulse show sales growth slowed in some categories last month. But consumers spent more on clothing — and most other items from electronics to luxury goods […]
Supreme Court considers credit card notice rule
WASHINGTON — The U.S. Supreme Court heard oral arguments in a case that will decide what notice credit card companies must give to consumers about interest rate increases under a now-changed federal regulation. Although the law has been amended, the case remains closely watched because credit card companies can still face litigation under the previous […]
Hackers strike back to support WikiLeaks founder
LONDON — WikiLeaks supporters struck back Wednesday at perceived enemies of founder Julian Assange, attacking the websites of Swedish prosecutors, the Swedish lawyer whose clients have accused Assange of sexual crimes and the Swiss authority that froze Assange’s bank account. MasterCard, which pulled the plug on its relationship with WikiLeaks on Tuesday, also seemed to […]
