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MasterCard won't let companies bill you after free trials for physical products (update)
We've all made the mistake of starting a free trial and forgetting to cancel it before the billing period kicks in. Now, MasterCard will protect against this --but only for physical products. The company announced a new policy that will require merchants to get authorization from you before hitting you with recurring charges for subscriptions. It will also require companies to provide you with monthly updates with pricing and clear instructions on how to cancel if you need it.
Cathay Pacific data breach affects up to 9.4 million customers
Cathay Pacific, the primary airline of Hong Kong known for its high-speed WiFi, was hit with a major data breach that affects up to 9.4 million passengers. The company said that personal information including passport numbers, identity card numbers, credit card numbers, frequent flyer membership program numbers, customer service comments and travel history had been compromised. No passwords were compromised, which may not be any consolation.
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.
The exciting world of credit card terminals is coming to VR
In maybe the most boring VR announcement to date, payment processing company WorldPay has decided to bring its services to virtual worlds. The UK-based company, one of the leading payment processors worldwide, used the HTC Vive for its prototype. In their system, to pay for an in-game item you use the Vive's controllers to pick it up, revealing a bubble with its price. Staring at the virtual price tag for a few seconds allows you to make the purchase, which you do with a virtual version of your real credit or debit card. You then hold your card over a VR payment terminal. And, if you need to type in a PIN, number bubbles pop up all around you in random order so that onlookers can't guess your code.
PlayStation is still getting away with 'minimum funding' charges
When game consoles stumbled into the modern era, their digital-content stores were a mess. Nintendo's Wii locked its customers into an annoying point system. The Xbox 360 obfuscated the value of Microsoft Points by using an odd 0.8 conversion rate. Sony's PlayStation Store listed its items in real, local currency but still forced users to load up digital wallets with a minimum amount before purchasing anything on the marketplace. Over the years, Nintendo and Microsoft fixed their digital-currency problems, aping Sony's up-front pricing and even improving upon it by allowing users to buy content without requiring them to add funds to a wallet system. Sony, on the other hand, hasn't changed. If you don't promise to spend at least $5 in the PlayStation store, you're not allowed to buy anything at all.
Credit card readers were hacked at MSG for nearly a year
Knicks fans have it rough. To watch last year's third-worst team, fans got to pay the league's highest ticket prices and drink the priciest beer. To add further insult, Madison Square Garden (MSG) Co. has revealed that their credit card information may have been stolen, too. Thieves tapped the magnetic card readers at merchandise and concession stands at Knicks and Rangers Games, Radio City Music Hall and other MSG locations between November 9th, 2015 and October 24th of this year, the company wrote in a special notice.
PayPal's Mastercard deal brings its payments to more stores
PayPal wants to be your go-to payment option online and in stores, but it has a problem: banks and credit cards aren't a fan of its free bank transfers and other attempts to push online payment over the conventional variety. However, it's trying to make amends. In the wake of a Visa deal from July, PayPal has forged a partnership with Mastercard that gives the credit card firm higher prominence online in return for more of a retail footprint. PayPal will make Mastercard a "clear and equal" payment choice in its wallet (complete with an image of your card), let you set the card as a default payment method and will "not encourage" you to link a bank account if you're a Mastercard customer. In exchange, you can use a linked Mastercard in your PayPal wallet to make in-store purchases at contact-free terminals.
Wendy's says over 1,000 locations affected by credit card breach
Fast food chain Wendy's announced in February that is was looking into a possible security breach. The franchise followed up in May confirming it found malware on its point-of-sale systems that was being used to nab credit card info. Stolen details were said to include including credit or debit card number, expiration date, cardholder verification value, and service code from less than 300 locations. Last month, the company provided and update that the investigation revealed the breach could be much worse due to a second cyberattack. Wendy's gave another update on the situation this week, disclosing that over 1,000 locations had systems where the malware was installed.
Acer admits hackers stole up to 34,000 customer credit cards
If you bought an Acer device from the company's store in the last year, there's a chance that your credit card info was hijacked. The Taiwan-based company informed California's attorney general that attackers made off with the "name, address, card number, expiration date and three-digit security codes" of users between May 12, 2015 and April 28, 2016. It sent form letters to the 34,500 affected customers, all of whom are in the US, Canada and Puerto Rico.
Olympic athletes will sport Visa's new payment ring in Rio
For those making their way to this year's Olympic games in Rio this August, Visa will be the only card accepted at official venues -- a pretty sweet deal for the payment provider. But, rather than be satisfied with exclusive access to the wallets of a half million tourists, the company is using the event to introduce a new ring that will let people pay with a wave of their hand: No phone, wallet or even battery needed.
London taxis set to accept contactless payments in 2016
London's cabbies have moved one step closer to accepting credit cards and contactless payments inside their vehicles. It's about time, right? After launching a consultation earlier this year, Transport for London (TfL) and London's Mayor Boris Johnson have agreed to move the proposals forward with a planned introduction next autumn. There's still one roadblock -- the TfL Board has to approve the plans in February -- but if they're given the go-ahead, all taxi drivers will be required to accept these payments from October.
Discover cards will work with Apple Pay starting September 16th
Discover has been dragging its heels on Apple Pay support for its credit cards (it confirmed its plans back in the spring), but it's finally ready to get with the mobile payment program. The firm now expects to roll out Apple Pay compatibility on September 16th, with perks (such as a 10 percent cashback bonus and additional travel miles) kicking in if you use Apple's tech to buy goods before the end of 2015. This might not matter much to you if you're a loyal AmEx, MasterCard or Visa fan, but the move means that every major US credit card provider now accepts the iPhone-only service. While this still doesn't represent truly universal card support in Apple Pay, it's much closer than before.
You can now spend up to £30 on contactless cards in the UK
More than ever before, the UK is embracing cashless payment methods such as debit and credit cards, phones and online banking. Some of that boom can be attributed to contactless payments, a technology that lets you pay with a card, fob, smartphone or wearable just by waving it in front of a reader. No signature or pin code required. The only problem, until now, has been the £20 limit on individual transactions. It meant contactless was fine for smaller purchases, but useless for anything substantial like a family supermarket shop. But thankfully, that limit is being increased today to £30.
Coin's newest credit card replacement adds built-in NFC
After delays plagued the initial launch of Coin's Bluetooth single-card solution to slimming down your wallet, the company is back with version 2.0. The new option still stores credit card info for taking care of the bill after lunch, but there's a big addition in tow: NFC. With the addition of NFC tap to pay, you can make contactless payments with the cards stored on Coin. While the new version is starting to ship today, the company is still working on "additional partnerships" with banks and financial institutions, though, so it'll arrive with an Early-Access-Mode. Basically, your options for tapping to pay will be limited at first, but as more banks opt in, you'll be able to enable EMV compatibility through a software update. Speaking of EMV, those Chip and Pin cards will work with the new Coin, too.
MasterCard is testing a new way for you to pay with your face
MasterCard announced on Thursday that it's looking to add a layer of biometric security to its credit cards and all user will need to do is simply take a selfie. The system will create a digitized map of your face, convert that map into a hash and compare it to the hash stored on Mastercard's servers. Users will be able to pay through a mobile app with either their fingerprints or by staring into the device and blinking once. The blink is used to prevent someone from just holding up a picture of you to spoof the system. What's more, "They're storing an algorithm, not a picture of you," Phillip Dunkelberger, who runs Nok Nok Labs, told CNN Money. "And I'm sure they're doing the appropriate stuff to guard it."
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.
Chick-Fil-A admits possible credit card breach
Chick-Fil-A is spending the beginning of 2015 not just serving chicken to hungry partygoers on their way home, but also dealing with a possible credit/debit card breach. The fast food chain has just issued an official statement admitting that it has "recently received reports of potential unusual activity involving payment cards used at a few of [its] restaurants." It says the company has been notified on December 19th of suspicious payment activities on cards used in some of their outlets, so it has begun investigating what happened with help from authorities and IT firms. This aligns with what security journalist Brian Krebs wrote in mid-December: according to the piece, the company has been receiving rather inconsistent reports of suspicious activities from banks since November.
Kmart's registers were hacked, credit and debit card numbers at risk
Get ready to call your credit card provider again -- another major US retailer has reported that its payment system has been compromised. Kmart's IT team quietly announced that malware has been found in its stores' register systems, noting that both debit and credit card numbers have been stolen. The breach seems to have occurred in early September, meaning any purchase made at the chain in the last month and a half is potentially at risk. Security experts say attackers have enough information to possibly duplicate payment cards, but not necessarily steal your identity: personal information, pin numbers, addresses and social security data have not been compromised. Still, it's a big enough breach that Kmart shoppers will want to call their financial providers. Ugh. Happy Friday news dump, everyone. [Image credit: Shutterstock]
Final's credit card tackles security with unique numbers for each retailer
While newfangled credit cards like Coin and Plastc aim to cut down on wallet clutter by loading up all of your payment methods in one place, another option is taking aim at security. It's called Final, and the chip & PIN card serves up a unique number to every place you shop or a "disposable" set of digits for one-time use. So when the next Target or Home Depot breach happens, you'll only have to deactivate the number assigned to those places rather than go through the hassle with your bank. You can easily deactivate numbers when a subscription has run its course, and set monthly limits so you're alerted when someone tries to go over that amount or that "free trial" runs out. When shopping online, there's a browser extension that quickly generates new numbers and populates the info fields automatically. What about mobile payments? Final plays nice with that digital wallet too, and as you might expect, a online portal offers access to spending info so that you can set goals and keep an eye on things. The company is looking to launch its beta in the first quarter of 2015, and if you're looking to opt in, you can sign up for early access via the source link down below.
Plastc wants to be the only credit card you'll ever need
Your fat wallet wants to meet Plastc -- a device which its manufacturers claim can replace most of the credit/gift/loyalty cards you currently mule about. It works by pairing with an app on your phone (via Bluetooth), which provides near unlimited storage for all your cards (Plastc itself can only store up to 20). The app also logs your transaction history. Does this all sound a little familiar? That's because you're probably recalling a similar device called Coin launched back in 2013. Just like Plastc, it, too, can store various card details that you can call up, depending on which one you want to use. The bad news is that Coin, which promised to ship the first units this year, moved its ETA to spring 2015 (though there's a beta test going on) -- something pre-order customers obviously weren't happy with. So, one has to wonder if an unknown company will be able to do what Coin couldn't and release such an ambitious product on time?
