Mastercard

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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....

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...

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...

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...

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...

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...

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...

Dow Climbs 27 as Year-End Rally Weakens
 Dow Climbs 27 as 
 Year-End Rally Weakens 
MARKETS
Dec 28, 2009 3:15 PM CST

Dow Climbs 27 as Year-End Rally Weakens

Mastercard reports better-than-expected holiday sales

(Newser) - Stocks faltered but managed to reclaim most of the day's gains in the final hour of today's session. The day saw light trading volume and news of a bump in retail sales from MasterCard's SpendingPulse unit, the Wall Street Journal reports.
  • The Dow gained 26.98 points to close at
...

Salvation Army Takes Plastic
 Salvation Army Takes Plastic 
Nov 23, 2009 5:55 PM CST

Salvation Army Takes Plastic

Charity tests 'cashless kettle' program

(Newser) - The Salvation Army's red kettles that collect holiday donations—a symbol for over 100 years—are getting an update. Numerous sites across the country will take credit cards this year as part of a pilot program dubbed "cashless kettles." Earlier tests suggest that the program has promise: in...

Debit Cards Overtake Credit

 Debit Cards Overtake Credit 
Apr 30, 2009 8:35 AM CDT

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...

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...

Dow Up 106; Hope for a Bottom
 Dow Up 106; Hope for a Bottom 
MARKETS
Feb 5, 2009 3:18 PM CST

Dow Up 106; Hope for a Bottom

MasterCard's success boosts financials

(Newser) - Stocks rebounded after initially falling lower today, as investors snapped up bargains from depressed equities, MarketWatch reports. MasterCard led advances with a 14% gain after beating profit estimates. Wal-Mart was another strong performer, rising 4.33% on strong January sales. The Dow closed up 106.41 at 8,063.07....

Stocks Up 305 in Election Rally
 Stocks Up 305 in Election Rally 
MARKETS
Nov 4, 2008 3:19 PM CST

Stocks Up 305 in Election Rally

Indices up 3%-4% after remaining in positive territory for entire session

(Newser) - Stocks rallied on Election Day as investors applauded the looming conclusion to the presidential race, the Wall Street Journal reports. Continuing declines in interbank lending, and strong third-quarter earnings reports also fueled optimism, with the Dow rising 305.45 to close at 9,625.28. The Nasdaq climbed 53.79...

Diamond-Inlaid Mastercard? 'I Like!'

Company readies lavish gold card for rich Kazakhstanis

(Newser) - MasterCard hopes that a worldwide recession won't stop shoppers from toting around a gold-encrusted, diamond-inlaid credit card, the Financial Times reports. Later this month, the company will issue VIP customers in Kazakhstan the "Diamond" card—which comes with a personal manager, is trimmed with gold, has a 0....

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...

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...

Stocks Rise on Healthy Data
 Stocks Rise on Healthy Data 
MARKETS
May 29, 2008 3:33 PM CDT

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...

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,...

Visa Plans $17B IPO in Risky Market
Visa Plans
$17B IPO in Risky Market
Feb 25, 2008 8:55 AM CST

Visa Plans $17B IPO in Risky Market

Public offering would be the biggest in Wall Street history

(Newser) - Visa is hoping to surpass rival MasterCard’s 2006 stock market debut with a $17 billion IPO that would be the largest in Wall Street history. The company today said it hopes to sell some 406 million shares for $37 to $42 each, reports the Wall Street Journal. The biggest...

Dow Tanks on Consumer Woes
Dow Tanks on Consumer Woes
MARKETS
Jan 11, 2008 3:25 PM CST

Dow Tanks on Consumer Woes

Index nosedives after more bad news about spending

(Newser) - The Dow plunged 246.79 points to 12,606.30 today as investors, worried about consumer spending, fled retailers and credit-card issuers. Analysts are concerned the mortgage crisis has finally hit pocketbooks, hurting credit, jobs, and public confidence, the Wall Street Journal reports.The Nasdaq slid 48.58 to close...

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