The unfortunate truth about your new chip credit card
The Unfortunate Truth About Your New Chip Credit Card By Matt Schulz, Senior Industry Analyst for CreditCards.com Call it chip-and-meh. This weekend, a shiny little technological marvel appeared in my mailbox. It’s my new-and-improved Delta SkyMiles American Express card. How is it improved? It has an EMV chip. These chips — which store your data and replace the card’s traditional magnetic stripe — make it harder for hackers to make [...]
3 credit card traps that can cost you a bundle
TV commercials for credit cards show happy people enjoying life. If only you applied for such a credit card, you too could be living the dream. Don’t be fooled. Your interests and the interests of your credit card company are not aligned. And I know: I used to run a profitable credit card business. For the lender, an ideal customer is someone who maxes out their card and only pays [...]
Amex fees could be coming down?
AMEX BATTEL WITH THE FEDS COULD CHANGE THE GAME FOR CREDIT-CARD USERS Jacob Davidson@JakeD 2:12 PM ET Scott Eells—Bloomberg via Getty Images American Express is facing off against the Justice Department today in a court battle that could shape the future of the credit card industry. The suit, which concerns the fees merchants pay every time a customers uses plastic, is the culmination of a four-year war between federal authorities [...]
Happy 4th of july
Happy 4th of July, and a big thank you to those who fought for our independence so many years ago and for those in our military who continue to fight for our freedoms, today. We are blessed to live in this great country. Happy Birthday, United States of America. Our office is closed today in observance of the July 4th holiday. Our normal business hours are 8AM-5PM, Monday-Friday and some [...]
Most US credit cards to be EMV enabled by 2016
41% of debit cards likewise will have embedded chips July 02, 2014 By John Ginovsky By the end of 2015, 70% of U.S. credit cards and 41% of U.S. debit cards will be EMV enabled, says Aite Group. Rising counterfeit card fraud is a key reason why the EMV business case now works for U.S. issuers, as credit card fraud rates doubled to 10 basis points, or 10 cents out of [...]
Consumers may have to wait for EMV
Consumers may have to wait for more secure credit cards says new report BY JACK NEWSHAM | GLOBE CORRESPONDENT JUNE 26, 2014 This computer chip is able to encrypt the user’s information, making it difficult to steal card data and create counterfeits. Despite the hacking theft of some 40 million debit and credit card numbers from Target Corp. in December, most banks say they are not yet ready to begin large-scale [...]
The shape (Square) not making money?
So what have we been saying about square(now referred to as “the shape”), micro merchants, not secure, and not a money maker, here is validation from an excellent source: http://www.forbes.com/sites/stevenbertoni/2014/04/21/why-square-needs-to-sell-itself-and-do-it-quickly/ Well at least the profitability and micro merchants are mentioned. Why is “the shape” attractive to micro merchants, less than $1000 per month in credit card volume, no monthly fees. However, with no monthly fees comes no support, unless one considers text [...]
Who is Jeremy Ochsner?
CEO, Stillwater Payments | Helping clients reduce processing fees and avoid rate increases and egregious lease schemes