Menu
Posted: Aug 24, 2016
Categories: Debit Cards, Fraud
Comments: 0
Author: Michele Featherstone

Thoughts on the Good News and Bad News for Credit Unions

When a debit card number is counterfeited, like what happens in a breach of data from a merchant, any counterfeit card number usage results in withdrawals directly from the cardholder’s bank account. Even though the cardholder’s liability for fraudulent transaction is limited - under the FCBA, liability for unauthorized use of the card tops out at $50 and many issuers have a $0 liability for fraud - there also can be additional costs and fees as a result. Checks that bounce result in NSF charges or scheduled bill pays that fail and incur late fees are just some of the aggravations that debit cardholders whose cards were caught in one of the many highly publicized data breaches had to deal with.

Read more
Posted: Jul 26, 2016
Comments: 0
Author: Bill Lehman
Walmart Pay has joined the burgeoning list of “Pays” – mobile payment apps – and has quietly made its way from its launch in 2015 to now be accepted in every Walmart store (over 4,600 locations) in the U.S. And early reports show that 88% of transactions processed through Walmart Pay are from users who previously used the app, meaning high satisfaction. Contrast this with Apple Pay’s low repeat usage rate – one-third of all Apple Pay users don’t use it a second time. Walmart Pay, which is actually a component of the Walmart mobile app, works with any credit, debit, prepaid (and of course) Walmart card, and allows payment at checkout by opening the app and scanning a QR code.
Read more
Posted: May 31, 2016
Comments: 0
Author: Bill Lehman

There was a time when a bank or credit union did not talk about fraud to their cardholders. They did not want to give the impression that their financial institution might be susceptible. The only mention was when describing the benefits of using the Visa or MasterCard brand which carries zero liability to the cardholder in case of fraud. But those days of silence on the subject are long in the past. Consumers are leery of identity theft, have started to look closely at their statements and, have learned the need to keep their social security numbers private.

 


 

Read more
Posted: May 17, 2016
Comments: 0
Author: Tom Davis

CurrentC, the much publicized merchant-owned mobile payment system announced in August 2012 by Merchant Customer Exchange (MCX), is closing up shop, according to a company statement released on May 16. An MCX spokesperson said the decision was a result of feedback from the CurrentC pilot program and the need to focus their resources on “other priorities,” including Chase Pay. 

To get more insights and details on the decision to pull the plug on CurrentC development, click here to read the PYMNTS.com article, “Say Bye-Bye To MCX CurrentC.”

Read more
Posted: May 4, 2016
Comments: 0
Author: Tom Davis

Apple Pay made headlines when it launched back in September 2014.  Many analysts celebrated, hailing the introduction as the advent of mobile payments. In reality, Starbucks was already successful with their mobile payments app, Uber was accepting payments in-app, and Disney had rabid fans paying for Mickey balloons and Mickey Ice Cream Bars using their Magic bands, years before Apple Pay launched.

Read more
RSS
123456

search

Featured Stories