NEWS ABOUT: Visa

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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... More »

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... More »

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... More »

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... More »

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... More »

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... More »

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... More »

'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... More »

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... More »

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... More »

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... More »

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... More »

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... More »

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... More »

Visa, Mastercard Warn of New Data Breach

Alerts issued after malware infects another payment processor

(Newser) - Mastercard and Visa have alerted financial institutions about another serious data breach at a payment processor, Wired reports. The breach, like the massive fraud unveiled at Heartland Payment Systems last month, is believed to have occurred through malicious software. The credit card issuers are refusing to name the processor involved... More »

Lenders Yank Credit Cards as Economy Sours

Plastic crisis comes hot on the heels of mortgage crisis

(Newser) - The flattening economy is putting the squeeze on credit card lending just when consumers can least afford it, the New York Times reports. Lenders are putting the brakes on new credit card offers and reining in lines of spending for existing holders, even those with good credit records. The flood... More »

MasterCard to Pay Amex $1.8B

Antitrust settlement will help Amex defray losses as economy continues to drag

(Newser) - MasterCard will pay American Express $1.8 billion in 12 quarterly installments, settling a lawsuit that claimed it had blocked banks from offering American Express cards to customers, the Wall Street Journal reports. American Express said the antitrust settlement would "help to lessen the impact of this weakening economic... More »

Stocks Rise on Healthy Data

GDP, financial rallies treat investors well, for now

(Newser) - The markets saw gains today as good economic data and a rally amid financial shares gave evidence that the nation may be moving past the current slump, the Wall Street Journal reports. The Dow gained 52.19 points to close at 12,646.22, the Nasdaq gained 21.62 to... More »

Interest Soars Sky-High in Visa's $18B IPO

Record-breaking debut could mark turning point for markets

(Newser) - Visa pulled in almost $18 billion in its initial public offering yesterday, the San Francisco Chronicle reports. The credit card company's IPO was the biggest by far in US history and the second biggest ever. The $44-per-share price investors paid was $2 higher than the company's highest estimate, and the... More »

Supermarket Breach Exposes 4M Credit Cards

Hannaford grocery stores report 1,800 related fraud cases

(Newser) - A data security breach at Hannaford, an East Coast supermarket chain, has exposed the credit card information of 4.2 million customers and resulted in 1,800 cases of fraud so far, the Boston Globe reports. The breach, which went undetected for three months, is one of the largest ever,... More »

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