To Freeze or Not to Freeze Credit Files

2018-09-06T03:46:45+00:00November 9th, 2017|Categories: Finance|Tags: |

Few of us freeze our credit files at the three major credit bureaus (Equifax, TransUnion and Experian), even after massive data breaches like the one at Equifax. This breach compromised the private data of as many as 145 million Americans. Gartner Research analyst Avivah Litan estimated about 2 percent to 3 percent of U.S. consumers currently have [...]

Mobile Payments “Growing” with American Consumers

2018-09-10T04:21:30+00:00August 25th, 2016|Categories: Finance|Tags: |

When mobile payment technology first became available, some experts referred to it as a solution in need of a problem. The EMV chip card switch provided it with a very real problem that it can fix. Most of the new chip card readers (including Square) can handle the near field communication (NFC) technology used by [...]

Selfie Pay Augments Credit Card Biometrics

2018-09-12T05:08:09+00:00May 26th, 2016|Categories: Finance|Tags: |

Retailers in the U.S. and the U.K. have implemented security checks, such as 3D Secure and Verified by Visa during the online checkout process. Unfortunately, the checks may hinder the shopping experience which can translate into lost sales according to ZDNet. In the U.K., 18 percent of online shoppers abandoned their baskets due to "excessive [...]

U.S. EMV Chip Card Progress?

2018-09-12T05:22:43+00:00February 25th, 2016|Categories: Finance|Tags: |

  How has the implementation of EMV chip cards gone in the U.S. given the October 2015 deadline? There appears to be more work that needs to be done. According to a recently published piece by Greg Buzek, President of IHL Services, only 8.5 percent of merchants are able to accept the new cards, which [...]

Retailers and Banks on Chip-and-PIN Credit Cards

2018-09-14T04:27:01+00:00October 29th, 2015|Categories: Finance|Tags: |

As of October 1, U.S. retailers were required to upgrade their point-of-sale terminals to accept new EMV chip credit cards or be liable for any fraudulent charges. According to Reuters, some large U.S. retailers are trying to take it a step further by using personal identification numbers (PINs) with the new embedded chip credit cards [...]

Credit Card Changes in the Next 5 Years

2018-09-20T03:57:18+00:00July 30th, 2015|Categories: Finance|Tags: |

Innovation is a part of our daily lives whether it is what we drive, devices we use to communicate or how we shop. The credit cards that we use are no different. According to Credit.com and Boston.com, there are five ways that credit cards are likely to change by 2020. Chip and PIN everywhere. While [...]

Simple Laxity Enables Credit Card Fraud

2018-09-20T04:09:05+00:00April 30th, 2015|Categories: Finance|Tags: |

In some ways, retailers and credit card companies are trying to be proactive in the fight against credit card fraud. For example, Visa developed software to detect whether it is you or an impostor who is using your credit card at a gas station pump. The use of new EMV-chip credit cards will help prevent fraud, because they [...]

Online Fraud Follows EMV-Chip Credit Cards

2014-11-26T09:00:24+00:00November 26th, 2014|Categories: Finance|Tags: |

The U.S. is the last G20 country to transition to credit cards secured with EMV chip technology. While initiating the transition has taken awhile, industry experts shared in Forbes that they believe that 70% of U.S. cards will have EMV chips by October 2015, because this is when the responsibility for card losses on magnetic-stripe [...]

Fighting Credit Card Fraud with Gas

2014-08-28T09:00:16+00:00August 28th, 2014|Categories: Finance|Tags: |

According to a 2013 Federal Reserve study, the total number of credit card transactions in the U.S. was 26.2 billion in 2012, and the total value of these transactions was $2.48 trillion. With these staggering numbers showing how much credit cards are used along with the money at stake, consumers, government agencies and businesses alike [...]

The Positive Impact of the Credit Cardholders Bill of Rights

2014-05-22T09:00:26+00:00May 22nd, 2014|Categories: Finance|Tags: |

As U.S. News and World Report identified, this week marks the five-year anniversary of the Credit Cardholders Bill of Rights (aka the CARD Act) being passed. So, some time should be taken to assess how well this legislation has lived up to expectations. The CARD Act had two primary objectives. One was to prevent unfair [...]