Visa

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Federal Lawsuit: Visa's 'Unlawful Conduct' Keeps Prices High

Company is accused of illegally monopolizing debit card market

(Newser) - The Justice Department is taking action against the company that processes more than 60% of debit card transactions in the US. In an antitrust lawsuit filed in federal court in Manhattan on Tuesday, the department accused Visa of illegally monopolizing the market by blocking competition, keeping fees artificially high, CNN...

Visa Delivers Big Win to Gun Control Advocates

Payment processor will start categorizing gun shop sales

(Newser) - Payment processor Visa Inc. said Saturday that it plans to start separately categorizing sales at gun shops, a major win for gun control advocates who say it will help better track suspicious surges of gun sales that could be a prelude to a mass shooting. But the decision by Visa,...

McDonald's Is Closing Its 850 Restaurants in Russia

After calls for a boycott, company decides to pause operations

(Newser) - Update: McDonald's, facing pressure including calls on social media for a boycott, says it is temporarily shutting down its operations in Russia. The company "has decided to temporarily close all our restaurants in Russia and pause all operations in the market," CEO Chris Kempczinski said in a...

Visa Issues Warning About Buying Your Gas Like This

Using cards at gas pumps can be risky, Visa says

(Newser) - Ever wonder about the safety of using credit cards at gas pumps? Well, Visa has issued two recent security alerts ( here and here ) about cybercrime groups that have hacked North American fuel dispensers, installed malware, and culled out what appears to be unencrypted card data, ZDNet reports. Seems...

Just One of 10 Most Valuable Brands Isn't American

Nice job, Tencent

(Newser) - Bragging rights for the world's most valuable brands are usually controlled by US companies, but in this year's ranking by BrandZ , one of China's own cracked the top 10, CNN reports. Tencent, which makes online games, apps, and other digital add-ons, rode on the coattails of its...

New iPhone May Be an E-Wallet
 New iPhone 
 May Be an E-Wallet
Sep 1, 2014 11:35 AM CDT

New iPhone May Be an E-Wallet

Apple reportedly teaming up with credit card companies for iPhone 6

(Newser) - For detractors who complain that their iPhones just don't do enough, Apple may be upping the ante. Rumors are swirling that when the iPhone 6 is unveiled on Sept. 9 , it's not only going to play music, surf the Internet, and make phone calls—it will also function...

Dow Dumps Bank of America, HP, Alcoa

Nike, Visa, and Goldman Sachs to replace them

(Newser) - The Dow Jones Industrial Average is ditching Hewlett-Packard, Bank of America, and Alcoa, it announced today, in what the Wall Street Journal is calling "the biggest shake-up of the 30-stock index in almost a decade." The Dow will add Nike, Visa, and Goldman Sachs to replace the three...

McDonald's Advice to Its Workers: Get Second Job
McDonald's Advice to Its Workers: Get
a Second Job
IN CASE YOU MISSED IT
Jul 21, 2013 7:00 PM CDT

McDonald's Advice to Its Workers: Get a Second Job

And heating is a luxury in sample budget

(Newser) - McDonald's has a new budgeting tool for its employees, but the advice on " Practical Money Skills for Life " is pretty laughable, critics are pointing out. The site, a partnership with Visa, is supposed to help these low-wage workers learn how to manage their money, ThinkProgress reports, but...

WikiLeaks: We Need a Million Bucks, Stat

They blame Visa/Mastercard for financial woes

(Newser) - WikiLeaks needs "a minimum" of a million euros ASAP in order to "effectively continue its mission," it announced in a news release today. The anti-secrecy organization has seen its cash reserves plummet from around $983,600 in December 2010 to less than $120,000 at the end...

It Might Cost a Little More to Use Your Credit Card
It Might Cost a Little More
to Use Your Credit Card
$6B settlement
Jul 14, 2012 6:22 AM CDT

It Might Cost a Little More to Use Your Credit Card

Merchants win right to add surcharge in huge case

(Newser) - Retailers scored a big win versus credit card companies yesterday, settling a seven-year-long lawsuit for $6 billion, plus fees relief that could reach $1.2 billion, reports the Wall Street Journal . Visa, MasterCard, and several large banks agreed to the deal, which will give merchants the option of charging customers...

US Still Rules in Decathlon

Americans dominate sport heading into London Olympics

(Newser) - In 2008, China beat out the US for most Olympic gold medals; this year, it's poised to garner the most total medals. Olympic glory has become a little less common stateside—but when it comes to the decathlon, we're set to do ourselves proud. The three favorites for...

Pay Off Student Loans ... by Spending More
Pay Off Student Loans
... by Spending More
odd notions dept.
Apr 8, 2012 10:59 AM CDT

Pay Off Student Loans ... by Spending More

New Visa debit card has rather strange idea for borrowers

(Newser) - Struggling with student loan debt? The SmarterBank Visa debit card can help you pay it off … by spending more money on other stuff. The card, launched by student loan comparison company SimpleTuition.com, offers rewards from 0.5% (for purchases under $100) to 1% (for purchases over $100), which...

Visa Dumps Processor After 1.5M Numbers Breached

Customer names, Social Security numbers reportedly safe

(Newser) - Visa has made credit card processor Global Payments persona non grata after some 1.5 million numbers were breached in a massive hack announced Friday , and the New York Times notes that the figure could be as high as 3 million. Global Payments has been removed from Visa's list...

'Massive' Data Breach May Have Hit MasterCard, Visa

10M cards may be affected

(Newser) - MasterCard is investigating a feared security breach linked to a credit-card processor in the US, it says; Visa has reportedly launched a similar investigation. While the companies are mum about the extent of the problem, financial insiders tell Krebs on Security it's "massive," potentially involving 10 million...

Mastercard, Visa to Use Purchases in Ad Targeting?

Companies also hope to mine your DNA

(Newser) - What you buy in the real world could eventually determine the ads you see online. Visa and MasterCard are studying ways of tracking consumer purchases in order to target online advertising—a plan that could take a heavy toll on online anonymity, the Wall Street Journal reports. One example offered...

Look Out, PayPal, Visa Wants Your Customers

Credit card giant working on person-to-person transactions

(Newser) - Visa will soon allow customers to use their credit and debit cards to send money to other individuals, reports AP . It's the same type of service offered by the likes of PayPal, but Visa will come into the market with the advantage of 1.85 billion cards in circulation. One...

Sarah Palin Cyber-Attacked by WikiLeaks Supporters

It's similar to attacks on MasterCard, Visa, PayPal

(Newser) - The WikiLeaks' revenge brigade has gone after Sarah Palin. The hackers, part of the so-called Operation Payback, tried to shut down her SarahPac website and "disrupted" the credit card accounts of her and husband Todd, reports ABC . Similar cyber-attacks were wreaking havoc on the websites of MasterCard and Visa...

MasterCard Blocks Payments to WikiLeaks

Credit card company won't allow use for 'illegal activity'

(Newser) - The world's stomp on WikiLeaks just hit the jugular: MasterCard is blocking all payments to the muckraking media site. "MasterCard is taking action to ensure that WikiLeaks can no longer accept MasterCard-branded products," said a company spokesman. "MasterCard rules prohibit customers from directly or indirectly engaging in...

Visa Corners Debit Card Market—With Higher Fees

Fees on signature debit purchases boost banks, screw merchants

(Newser) - In a bizarre twist, the intense competition among debit card companies has resulted in a race to higher prices, which benefit banks at the expense of retailers, not to speak of consumers. At issue is whether you sign for that debit purchase or enter your PIN instead—the former costing...

Debit Cards Overtake Credit

 Debit Cards Overtake Credit 
Apr 30, 2009 8:35 AM CDT

Debit Cards Overtake Credit

A surge in debit-card usage reflects a shift from the days of easy credit

(Newser) - The recession has boosted the popularity of debit cards, the Wall Street Journal reports. In the last quarter of 2008, debit-card transactions processed by Visa were 50.4% of the company’s volume, surpassing credit cards for the first time. Rival MasterCard’s debit volume surged 13% last year as...

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