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MasterCard Sued for $18.6B on Behalf of 46M People

The lawsuit alleges it charged excessive fees

(Newser) - Approximately 46 million people in Britain could one day be $400 richer thanks to a massive $18.6 billion lawsuit filed Thursday against MasterCard, CNN reports. It's one of Britain's first class action lawsuits. Walter Merricks, the former head of Britain's Financial Ombudsman Service who filed the... More »

For MasterCard Users, Selfies Are the New Passwords

'Consumers hate passwords'

(Newser) - We're all taking selfies all the time anyway, so we might as well put them to good use. The Verge reports MasterCard is rolling out "selfie pay" in 14 countries. If additional authentication is needed after online shoppers enter their credit card info, MasterCard users will be able... More »

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... More »

Things You Can't Buy With a Credit Card (Like Pot)

MarketWatch rounds up 10 examples where plastic is forbidden

(Newser) - Don't give up on cash just yet: There are plenty of items that remain difficult or impossible to get with your credit card, MarketWatch reports. Ten reasons you may want to keep going to the ATM:
  • Neither Visa, MasterCard, nor American Express will let you buy marijuana with plastic,
... 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 »

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 »

To Get New Credit Card: Pay Off Expired Debt?

Feds have fined debt collector for deceptive practices

(Newser) - Americans burdened with old debt and low credit ratings are getting an unlikely offer in the mail: a new credit card. But the fine print explains that accepting the card means reviving debts that had expired by law, the Wall Street Journal reports. For one New York deli owner, the... 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 »

WikiLeaks to Stop Leaking

Because it's strapped for cash, Julian Assange says

(Newser) - WikiLeaks won’t be releasing any more secrets in the near future, Julian Assange announced today; the credit card companies have brought it down. In a statement, WikiLeaks said it was making the move in response to the “blockade” against donations established by banks and credit card companies . “... More »

WikiLeaks Spoofs MasterCard

Assange and Co. rail against banking blockade

(Newser) - WikiLeaks is fighting back against MasterCard and the banks that have cut it off with an Internet ad spoofing those ubiquitous MasterCard “priceless” ads. (Side note: Those pretty much have to be the most parodied ads of all time at this point, right?) The ad outlines all the costs... More »

Hackers Shut Down MasterCard Site—Again

'Anonymous' team protests moves against WikiLeaks

(Newser) - LulzSec may have disbanded, but hackers are still angry over WikiLeaks’ banking troubles. They’ve once again taken down the website of MasterCard—one of several financial firms that have “blockaded” Julian Assange’s group. Tweeted one hacker: “ DOWN!!!, thats what you get when you mess... More »

PayPal Sues Google, Says It Stole Trade Secrets

Goes after 'Google Wallet' mobile system

(Newser) - EBay and its PayPal subsidiary have filed a lawsuit accusing Google of stealing its trade secrets in the creation of its Google Wallet product . The suit names two executives—Osama Bedier and Stephanie Tilenius—who jumped ship to Google after long stints working at PayPal and eBay respectively, Reuters reports.... More »

UN Rights Chief to World: Play Nice With WikiLeaks

She raises alarm over moves to cut off funding, starve it of server space

(Newser) - Hackers aren't the only ones not happy about companies deciding to stop doing business with WikiLeaks. The United Nation High Commissioner for Human Rights said yesterday that attempts to cut off WikiLeaks' funding and deprive it of server space "could be interpreted as an attempt to censure the... More »

Facebook, Twitter Locked in WikiLeaks War

'Operation Payback' accounts suspended

(Newser) - Facebook and Twitter have found themselves stuck in the middle of a furious online battle that shows no sign of stopping any time soon. The social media sites have blocked accounts belonging to a group waging cyber-war on firms that have stopped doing business with WikiLeaks — but the move... 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 »

WikiLeaks-Loving Hackers Strike MasterCard, PayPal

Companies who shunned site targeted

(Newser) - WikiLeaks' bank accounts have been frozen, a host of companies have stopped doing business with it, and its founder is in custody, but is anybody coming to its defense? Step up, 4chan. "Anonymous," a group linked to the notorious message board, has launched denial-of-service assaults against firms that... 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 »

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