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American Express will stop requiring signatures for purchases
Mastercard and Discover both announced in recent months that, starting next year, they would no longer require signatures for credit card transactions. Now, the Verge reports, American Express has announced it's also moving away from signatures. As of April 2018, American Express signature requirements will be no more and the company says it's because technology advances have made them obsolete. "Our fraud capabilities have advanced so that signatures are no longer necessary to fight fraud," American Express Executive VP Jaromir Divilek said in a statement.
Uber’s new credit card could be a tough sell (updated)
Uber isn't exactly known for protecting the privacy of its drivers or riders. Tim Cook reportedly had to threaten to remove the Uber app from iPhones after he discovered the app was "fingerprinting" iPhones with a permanent ID. The ride sharing company had to stop gathering location data from passengers, even after a ride ended, and it settled with the FTC over abuse of customer data. Now Uber is offering a new credit card, available November 2nd, which might seem a bit counter-intuitive.
Affirm’s app lends you money to buy things online
Paypal co-founder Max Levchin launched Affirm back in 2012 to extend credit for folks to buy things online. Today, his company has extended that feature to a mobile app, functionally creating a virtual credit card for anyone who wants to trust a tech company instead of banks.
Discover card users can redeem their points on Apple Pay
Apple Pay gives you many ways to pay for your purchases -- and now Discover's cashback bonus is one of them. Discover and Apple have teamed up to give you the ability to redeem your cashback points through the mobile payment app, so long as you can fulfill a set of requirements. You'll obviously have to add your Discover card to Apple Pay, download the Discover app, have a rewards balance higher than the amount of the item you want to purchase and, most importantly, you have to be using an iPhone 6 or later.
PlayStation credit card gives extra money back for gaming purchases
If you're a PlayStation fan, you probably use your credit card for a lot: games, add-ons, the virtually obligatory Plus subscription and the occasional accessory. Wouldn't it be good if you could at least get some compensation for pouring so much money into Sony's coffers? If you live in the US, you can. Sony has launched a Visa-based PlayStation credit card from Capital One that gives you discounts and redeemable points if you shop for Sony gear or PlayStation services.
Curve's smart card switches between credit and debit after purchases
Have you ever bought something only to regret it later as you run into a spending limit on the card you used? If you live in in the right country, you might have a way to overcome this particular strain of buyer's remorse. Curve is giving its British and European Mastercard users the ability to switch a purchase between credit or debit up to two weeks after the transaction took place. If you realize you're going to go into overdraft, or that you should have expensed dinner on your corporate credit card, you can make a change before it's too late.
Samsung Pay finally works with your Discover card
Samsung Pay was supposed to work with Discover cards in 2016 (it was announced in 2015), but the year came and went without support. And that's no small problem if you like tap-to-pay purchases. While Discover isn't the biggest name in the credit business, it has over 51 million card holders. Thankfully, that conspicuous gap appears to have closed: Samsung phone owners have noticed that Discover support quietly went live in recent days. We've asked both Samsung and Discover for comment, but Samsung hasn't updated its compatibility list as of this writing. Don't be surprised if the two are waiting before making the news official.
Hackers stole credit card data from Buckle stores' cash registers
If you shopped at Buckle in the past several months, you might want to check your financial statements -- the clothing store has confirmed a Krebs on Security report of a data breach. Intruders planted malware on the chain's cash register systems to steal credit card data between October 28th, 2016 and April 14th, 2017. The potential data loss is limited if you used a relatively secure chip-based card, but it's much worse if you relied on the magnetic stripe. The malware looked at stripe tracking data to collect names, card numbers and expiration dates.
GameStop confirms extensive credit card data breach
If you're a GameStop customer, check your mail. The company just sent out letters to online patrons confirming a suspected payment security breach. In April, GameStop said they were looking into a possible data breach that might have put customers' credit card information at risk. Confirming those suspicions, Kotaku reported today that a number of GameStop customers have received letters notifying them that their credit cards may have been stolen.
Chipotle finds malware exposed credit card info across the US
Hackers stole credit card information from customers at Chipotle restaurants across the United States between March 24th and April 18th, the company announced today. Chipotle revealed in April that it had been the victim of an attack, and today it shared details about the type of information stolen from customers, which covered "cardholder name in addition to card number, expiration date, and internal verification code." No other information was compromised, Chipotle said.
Google will track your shopping trips to prove its ads work
First, Google followed you to the store using location data, much like Foursquare. Then its launched its Express shopping service. Now, it will track billions of credit and debit card transactions in an even bigger effort to prove its online ads push users into brick-and-mortar shops.
Mastercard aims to speed up your chip-and-PIN payments
Chip cards are ultimately faster than paying with a magnetic stripe and a signature (or worse, a check), but they're sometimes slow -- and it's bad enough that Mastercard wants to do something. The company is partnering with Verifone and Global Payments to build its speedy M/Chip Fast technology into EMV card reading systems destined for the US. The focus is on fast food, grocery stores, mass transit and anywhere else that waiting even a few seconds might cause frustration (especially for the people behind you).
Pay an American Express bill just by talking to Alexa
With Amazon's Alexa getting smarter every day, soon enough you won't have to do much yourself. American Express is the latest company to tap into the virtual assistant's skills, allowing customers to use voice commands to check their account balance, review recent charges or make a payment. Alexa devices will also connect to Amex Offers, which is going to let card members browse limited-time deals that may be available through their card. It's worth noting American Express isn't the first financial service to bring these kind of features to Amazon's platform; Capital One started doing something similar earlier this year. If you have an Amex card, as well as an Alexa-enabled device, you can learn how to set this up right here.
Nintendo speeds up the Switch eShop with an obvious fix
When you go to buy a digital game on Nintendo's Wii U or 3DS consoles, you only have to enter your payment information once. The systems store your credit card number so you can make your next purchase without having to type that string of digits in each time. Nintendo's hot new mobile/TV-based Switch, however, did not have this same ability. Thankfully, the gaming company has tweaked the Switch eShop today with the feature, making it even easier to spend all your money on digital downloads.
Smart card Plastc goes under despite $9 million in preorders
Plastc, a smart payment card that can store all your CC details, promised to be the only plastic you'll ever need to bring when it started taking pre-orders in 2014. Now, almost three years and countless shipment delays later, the company threw in the towel. In a statement posted on its website, Plastc says it has officially shut down on April 20th and will file for Chapter 7 bankruptcy. According to a Magnify Money editorial, Plastc raised $9 million from 80,000 pre-orders. It wasn't and will not be able to fulfill any of them.
Over 1,000 Intercontinental hotels hit by a data breach
The Intercontinental Hotels Group (IHG) thought only a handful of Holiday Inns were affected by a data breach that happened last year, but it turned out to be a much bigger deal. In a statement posted on its website, IHG has admitted that it found signs of malware designed to access credit card data used at front desks in a lot more locations. It didn't mention a specific number, but it linked to a tool where you can look up which Holiday Inns, Intercontinentals and Crowne Plazas were affected. A Krebs on Security reader did some digging, though, and found 1,175 properties in IHG's tool. That's a sizeable chunk of the 5,000 hotels it has worldwide.
Mastercard adds fingerprint sensors to payment cards
Our fingerprints are quickly replacing PINs and passwords as our primary means of unlocking our phones, doors and safes. They're convenient, unique, and ultimately more secure than easily guessed or forged passwords and signatures. So it makes sense that fingerprint sensors are coming to protect our credit and debit cards. Mastercard is testing out new fingerprint sensor-enabled payment cards that, combined with the onboard chips, offer a new, convenient way to authorize your in-person transactions. Instead of signing a paper receipt or entering your PIN while struggling to cover up the number pad, you simply place your thumb on your card to prove your identity.
GameStop looks into a potentially serious credit card breach
Did you shop at GameStop's online store for the holidays, or take advantage of its post-holiday clearance sales? You might want to check your credit card statement. GameStop has confirmed to security guru Brian Krebs that it's looking into a possible data breach that compromised credit card info between September 2016 and February 2017. Krebs' financial industry sources claim that the intruders not only took card numbers, expiration dates and cardholder addresses, but the three-digit security number that's ordinarily hard to get (as it's not usually stored online). This suggests the attackers planted malware on the site to harvest the info before it was transmitted -- this was clearly not a run-of-the-mill breach if so.
Google Play listing shows how you'll pay on Android Wear
Google is hoping the release of Android Wear 2.0 will push more people toward smartwatches, and one of the key pillars of that strategy is Android Pay. Ahead of the launch, it has (perhaps accidentally) released some screenshots on the Play Store that show how it'll work and look. At supported retailers with an Android Pay or contactless logo, you simply hold your NFC-equipped Android Wear watch next to the terminal until it's approved. It'll then detail the latest transaction in a list, and you can scroll to see your recent history.
Coin shuts down its payment services on February 28th
You knew Coin's payment tech wasn't long for this world when Fitbit bought the company in 2016, and now the end is at hand: the Coin team is shutting down its payment services on February 28th. ITs signature universal credit card devices will keep working as long as they still have battery power, or about 2 years after activation. However, the mobile app will stop working after that date -- you can't change cards on the device if they're due to expire. Nearly all support is going away (outside of deleting accounts), and you're already out of luck if you need a warranty exchange.
