credit

Visa chief: Fee on digital wallets seems 'appropriate'

Digital wallet operators, like Google, PayPal, and others, should be charged a fee for offering such a service, according to Visa CEO Charlie Scharf.

Speaking at the Barclays Emerging Payments Forum yesterday, Scharf said "it is totally appropriate" for credit card companies to charge digital wallet operators a fee on all transactions, according to Reuters, which was in attendance.

Scharf's comments come after eBay revealed in a February regulatory filing that MasterCard was planning to charge it a fee for its digital wallet service starting in June. The actual amount PayPal pays isn't expected to be … Read more

FBI investigating how sensitive celebrity data landed on Web

Some hacker or hackers has it out for a handful of celebrities, politicians, and law enforcement officials, including First Lady Michelle Obama, Vice President Joe Biden, and pop singer Beyonce.

Collected onto one Web site -- called "The Secret Files" -- is a slew of financial and personal information on these public figures. The data is so sensitive that it has sparked investigations by the FBI and other law enforcement agencies.

The U.S. Department of Justice announced yesterday that the government agencies are looking into how www.exposed.su obtained the Social Security numbers, credit reports, telephone … Read more

Free ways to protect against identity theft

Identity thieves are more active than ever. In 2012, the Federal Trade Commission received more than 2 million consumer complaints overall, and for the 13th consecutive year, identity theft was the most-common complaint category: 369,132 ID-theft reports were added to the FTC's Consumer Sentinel Network in the year, an increase of more than 30 percent from 2011.

Last week the FTC released its 2012 Consumer Sentinel Network Data Book (PDF). According to the report, the fastest-growing category of identity theft relates to government documents and benefits: complaints in this category increased 46 percent from calendar-year 2010. Credit-card fraud (… Read more

Get an 8GB credit card flash drive for $7.99

We all know that flash drives are dirt-cheap nowadays, but most of them are designed to ride in your pocket or on your keychain. What if you forget the drive, or don't have your keys with you? What then?!

One item you almost always have with you: your wallet. Hence today's deal: Meritline has the 8GB Black Credit Card Shaped USB Flash Drive for $7.99 shipped. Regular price: $9.99. Savings: two dollars. Woo!

I know, it's barely a deal, but not every day needs to be about TVs, laptops, and other big-ticket items. And this, … Read more

NFC seeps into bloodstream of Mobile World Congress

BARCELONA, Spain--NFC (near field communication) technology has been around for some time now, but as of yet it's failed to hit a level of ubiquity in our devices that would galvanize more businesses to adopt it. That, however, is changing fast.

While most think of NFC as solely a new payment solution, companies are constantly finding new ways to implement it.

NFC is essentially a new way to exchange information from one device to another, wirelessly. It's different from other wireless technology in that it requires the two devices to be within a centimeter of each other. Hence … Read more

Apple wins California credit card privacy case

The California Supreme Court today ruled that Apple did not break state law by requiring customers to provide personal identification information such as mailing addresses and phone numbers to complete online credit card transactions.

The decision was a split one, as first reported by Reuters, with four of the seven justices finding in favor of Apple. A copy of the decision is embedded below.

The proposed class action suit was initially brought against Apple by plaintiff David Krescent in June 2011. Krescent alleged that Apple required his telephone number and address to purchase media downloads.

The majority of the justices … Read more

Credit card companies' WikiLeaks block just fine, EU says

Credit card companies that blocked WikiLeaks a couple of years ago didn't do anything wrong, the European Union's European Commission said today.

Last year, donation collection gateway DataCell complained to the commission that it was unfair for MasterCard Europe, Visa Europe, and American Express to have blocked donations to WikiLeaks. DataCell provided payment gateway services to WikiLeaks, accepting donations for the controversial organization. It was able to facilitate those transactions by operating its datacenter in Iceland -- away from legal prying eyes.

In its complaint, which it filed in July 2011, DataCell said that the credit card companies … Read more

The 404 1,162: Where we protect our necks (podcast)

Questions answered on today's episode of The 404 Show:

- What's the point of having an LCD screen and buttons on my credit card?

- What comes in the Nintendo Wii U box, why do people love unboxing videos so much, and why does my brain feel like it's being massaged? Side note: ASMR Subreddit

- What's the history of Goatse.cx and how can I use it to ruin everyone's day?

- How can I sucker someone into giving me free money for the holidays?… Read more

How Square can help you sell more cupcakes

With the holiday season bearing down on the calendar, Jake Vance needs to know how many cupcakes he should make every day. Make too many, and the rats that frequent his dumpsters are happy. Don't make enough, and customers walk away without getting to enjoy their favorite treat.

Vance runs Sweet Avenue, a small bakery in Rutherford, N.J. So small, in fact, that it doesn't make sense to spend hundreds and hundreds of dollars on point-of-sale software or professional cash registers that are routinely used by larger businesses to generate smart data on sales patterns.

Until even … Read more