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Uber will pay drivers and couriers after every trip
Uber is making a bigger push into payments and financial services by setting up a division called Uber Money. Among the initiatives Uber has in store is paying its more than 4 million drivers and couriers after each ride. It plans to do so through its no-fee mobile bank account, which it's integrating into the Uber Driver app.
Hackers take 5 million payment cards from Saks, Lord & Taylor stores
The wave of large-scale retail data breaches isn't about to subside any time soon. Gemini Advisory has discovered that a JokerStash online crime syndicate, Fin7, is planning to sell over 5 million payment cards stolen from the databases of 83 Saks Fifth Avenue stores (including Off 5th) and the entire network of Lord & Taylor. The crooks are 'only' selling 125,000 of the cards on the Dark Web as of this writing, but the rest are expected to reach the black market in the months ahead. The breaches reportedly started in May 2017, but could be continuing to this day.
Venmo invites users to try physical debit cards
Venmo is inviting select users to try out new debit cards that deducts right from their account, TechCrunch reported. This is four months after rival payment service Square started trying out its own card (and two months after its public launch), so Venmo is a little late to the game, but apparently users are already getting their new payment plastic.
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.
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.
Square is inviting users to sign up for its debit card
That Square debit card that company chief Jack Dorsey teased back in April? It's real, and Square has even begun inviting some users to sign up. After a customer tweeted out that he received an invitation to order a debit card, a Square spokesperson confirmed to Recode that it has indeed started sending out invites. Unlike other debit cards, Square's won't be linked to your bank account in any way -- it uses the balance in your Square Cash app instead.
Square chief teases a smart debit card
Square Cash's virtual payment card might not be quite so virtual in the future. Company chief Jack Dorsey has teased a strange, all-black Visa debit card that Recode suspects is really a physical Square Cash card. A Square spokesperson declined to comment, so take this with a grain of salt, but there's evidence to suggest there's something to this teaser. You see, Square seriously considered a payment card back in 2014 -- the company is no stranger to exploring the concept of a real-world card that draws from online funds.
Thieves can use web bots to guess your Visa card details
If you've punched in credit card details while shopping online, you've probably wondered how secure those digits are. According to Newcastle University, the answer is: not very. Its researchers have discovered that thieves are using web bots to guess Visa credit and debit card info thanks to a flaw in the company's payment system. The biggest challenge is obtaining valid 16-digit card numbers, usually by buying them or using an algorithm to generate valid examples. After that, the bots find expiration dates and CVVs (that three-digit number on the back) by spreading guesses across hundreds of shopping sites, plugging numbers into fields until they hit the jackpot. While that sounds like a painstaking process, the bots can figure things out in 6 seconds.
Walmart takes Visa to court over debit card payments
Walmart isn't happy that Visa still allows customers to sign for purchases made with their chip-equipped debit cards. The retail giant has filed a lawsuit against Visa in New York in an effort to compel the credit card brand to require PIN verification when paying in its stores. Walmart argues that PINs are a lot more secure than signatures and can help prevent fraud. It used to only allow debit card payments verified by PINs when it first started accepting chip cards, but Visa forced the company to allow signature verifications.
Google is deprecating the Wallet card at the end of April
Google announced on Thursday that it will no longer support the physical debit cards tied to users' Wallet accounts beginning July 1. Instead, Google plans to press forward with development on its mobile app.
Square's new reader arrives to accept mobile payments and chip cards
We've known about Square's new NFC-friendly reader for a while, and now the point-of-sale gadget is available for use. Starting today, 100 merchants in "select cities" (quite a few, actually) will begin accepting NFC-driven payments like Apple Pay, Android Pay, Samsung Pay and those newfangled chip credit/debit cards. The reader is a square pad (of course) separate from the company's usual POS setups and sliding readers, allowing you to hover your phone or insert a card to complete purchase. The unit is wireless and pairs with either a countertop system or Square's free mobile app to handle the transactions. However, the new reader itself will set businesses back $49 in order to get started. For the initial rollout, look for the device at businesses in the following cities: Atlanta, Austin, Boston, Chicago, Denver, Los Angeles, Nashville, New Orleans, New York, Miami, Minneapolis, Philadelphia, Phoenix, Sacramento, San Francisco, Santa Cruz, Seattle, St. Louis Tampa, and Washington, D.C.
Kenyan slums dispense clean drinking water through ATMs
In many parts of Kenya's capital of Nairobi, clean water is difficult to come by. That often means taking your chances with dysentery from an impure source, or pay through the nose from a "water vendor." But the BBC reports that thanks to a partnership between the African nation and Danish water company Grundfos, that's about to change. The Nairobi City Water and Sewerage company has just opened four ATM-like kiosks that will dispense 20 liters of potable water for just half a Kenya shilling (about half a US penny). That's 100 times less expensive than what vendors charge for the same amount. Residents simply have to swipe a smart card and put a jug under the spigot, and the access card balances can be refilled either at the kiosk itself or via mobile phone.
Stratos' all-in-one payment card should work anywhere in the US
Many "universal" payment cards... well, aren't. They either don't work everywhere or only hold a limited number of cards, which leaves you out of luck when you're trying to add one more loyalty program. Stratos thinks it has this problem licked, though. Its new Bluetooth Connected Card promises "100 percent compatibility" with payment systems in the US, and it can hold an unlimited number of cards that you control through a mobile app. You also shouldn't have to worry about a thief going on a shopping spree if you lose your card, since you can tell it to automatically lock down if it's not close to your phone for a while.
Etsy takes a stab at real world sales with free credit card readers
Etsy is best known for being an online marketplace of folksy gewgaws and crocheted everythings, but it's making moves to help its sellers do more out in the real world. Case in point: The company just took a page out of Square and PayPal's playbooks by offering free, smartphone-friendly credit/debit card readers to its users. The idea's simple enough: Etsy crafters hawking their wares in public can use the reader just like any of the other ones out there, but once they swipe a card, those products automatically get deducted from their online Etsy inventory. Buyers who already have Etsy accounts can leave reviews too, just to make sure everyone knows how rad their new minimalist wallets are. Voilà: sellers get to make money and build deeper connections with actual, physical people, and Etsy gets a sweet (if tiny, think 2.75 percent) cut of each transaction to help fuel its growth. Now if you'll excuse us, we've got some funky brass steampunk corsets to prep for the big craft show next week.
Shift's debit card lets you pay with both real and virtual money
Part of the challenge of Bitcoin and other virtual currencies has simply been the need to juggle different apps and cards to use every payment option at your disposal. Wouldn't it be nice if one card could handle everything? You might just get your wish. Shift Payments is testing a new debit card that can switch between real and virtual money on the spot, such as through an app; you could pay for morning coffee with Bitcoin and after-work groceries using real cash. Loyalty card support is in the works, too.
What you need to know about card skimming
"Skimming" is a blanket term used when referencing a crime where you take small amounts of money. It literally means to take cash off the top, as if money were the sweet cream floating atop a cauldron of lesser riches. Fifty years ago, skimming might have meant stealing a handful of dollars from your employer, or even millions in elaborate scams we've seen in countless Hollywood films. Today's skimming, however, employs tricks and hardware that are absurdly complex and yet sneaky enough to elude detection. Unless you know what to look for, of course. Today's world of skimming is high-tech, and it wants your credit card and banking info. Though we can't help you catch every conceivable method that crooks are using to try to rip you off, being armed with a bit of knowledge on the topic could save you major hassle down the road. No matter what you take away form this read, at a minimum you'll never look at an ATM or POS terminal the same way again.
Having trouble spending your digital currency? Get a Bitcoin debit card
For all its advantages, Bitcoin has one major drawback: it's rather hard to spend. While the digital currency has legs in online marketplaces like Overstock and Square Market, few brick and mortar stores are equipped to trade in Bitcoin. Special ATMs help a little, but there has to be a better way. Xapo, a crypto coin storage vault, thinks it's found one: the Bitcoin debit card. Xapo's card promises to work exactly like your bank's plastic -- authorizing transactions by checking the requested charge against your account balance in real time. If the sale is approved, Xapo automatically sells a comparable amount of Bitcoin from the user's wallet to cover the purchase. Xapo says the card should be an improvement on the Bitcoin pre-paid cards that already exist, which require the user to manually refill their plastic before hitting the town.
Coin eight-in-one Bluetooth credit card adds security features, boosted pre-order availability
Judging by the millions of YouTube views since it launched just last week, there's quite a bit of interest in Coin. The Bluetooth-enabled swipeable lets you add in identifying info from up to eight individual credit, debit, membership, loyalty and gift cards, and comes along with companion Android and iOS apps that boost functionality. While the applications enable you to save detailed card info for online purchases, push additional payment methods to Coin and access the Bluetooth-powered leash that will send an alert if you walk away without your card, the device works independently as well. The company is announcing some additional security features today that should serve to ease at least some fraud concerns. Coin will include an "alarm" that tracks the number of times the card is swiped and sends an app alert if it suspects unauthorized use. It can also be locked to just one card before you hand it over at a store or restaurant, so a clerk can't accidentally (or deliberately) swap cards before swiping. Reps also responded to 50 questions on a new Q&A page, addressing additional security-related and function queries, including ATM compatibility (yes, it will work), photo ID storage (uh, no) and chip and pin support (not yet, but it's in the works). The firm is also releasing additional cards for pre-order, so if you want to get in before the price jumps to $100, there's still time to hand over 50 bucks (plus $5 shipping) at the source link below.
Google Wallet adds plastic to its payment repertoire, offers pre-paid debit card
Much as Google Wallet tried to get NFC and phones in general to be the payment form of the future, it seems that the company has realized that many folks are still attached to plastic. To meet that luddite demand, today Google began offering a pre-paid Google Wallet debit card to give access to your Google-fied funds when you don't have your handset handy. The card is issued as a MasterCard and grants ATM access, and is currently only available to US residents who have already been through Big G's identity verification process. Should you fit into that category of folks, you'll find all the info needed to sign up at the source links below.
