Visa
Latest
Facebook's Calibra cryptocurrency wallet launches in 2020
After months of rumors and speculation, Facebook is finally making its cryptocurrency efforts official. This is Calibra, a digital wallet that will use a new cryptocurrency called Libra. Calibra, which is now a subsidiary of Facebook, is designed to "provide financial services that will enable people to access and participate in the Libra network," a blockchain technology developed by Facebook that's getting support from MasterCard, Visa, PayPal, eBay, Uber, Lyft and Spotify, among others. Facebook says it plans to launch Calibra in 2020, and the service will be available in Messenger and WhatsApp, as well as in a standalone app.
WSJ: Facebook's cryptocurrency finds backing from PayPal and Uber
Facebook has secured some pretty big backers for Project Libra, according to The Wall Street Journal. PayPal, Uber, Visa and Mastercard are reportedly investing around $10 million each in the social network's cryptocurrency. Other investors include Stripe and Booking.com. By agreeing to put money into the initiative, they've become part of a consortium created to govern the digital coin. It's not yet clear, however, if Facebook has already managed to raise the $1 billion it was hoping to in order to fund the coin's creation.
US now requires social media info for visa applications
If you want to stay in the US, you'll likely have to share your internet presence. As proposed in March 2018 (and to some extent in 2015), the country now requires virtually all visa applicants to provide their social media account names for the past five years. The mandate only covers a list of selected services, although potential visitors and residents can volunteer info if they belong to social sites that aren't mentioned in the form.
Visa will help bring tap-to-pay to more buses and subways
Tap-to-pay is incredibly convenient for mass transit, but it's also incredibly inconsistent. There's no guarantee you'll find it in every big city, let alone smaller burgs that can't justify revamping their turnstiles. Visa wants to fix that -- it's partnering with Planeta Informatica on a new Secure Access Module that brings tap-to-pay to existing public transportation systems. Your bus or subway network wouldn't have to throw everything out to let you pay with your contactless card, smartphone or watch.
US will limit visas for Chinese tech students
The Trump adminstration's ever-growing trade fight with China is about to have a significant impact on Chinese students traveling abroad. After the State Department confirmed that it would shorten the length of some Chinese citizens' visas, the AP has learned that officials would limit visas to one year for any student studying in tech-related fields like aviation, high-tech manufacturing and robotics. While the exact aim isn't clear, those fields line up with the Made in China 2025 plan -- this would discourage students from earning degrees in the US solely to give China a technological edge.
Credit card companies unite for a checkout button to take on PayPal
Even if you don't use PayPal to send money to friends, there's a good chance you've reached for their checkout button in online stores, which is tied to all of your payment information. It's simply easier than getting up and finding your wallet. Now, the major credit card companies -- Visa, Mastercard, American Express and Discover -- are joining forces for a checkout button of their very own, the Wall Street Journal and Bloomberg report. And yes, it means the end of Masterpass and Visa Checkout, services that attempted to replicate the easy PayPal experience.
You won't have to sign for credit card purchases much longer
For all of the progress the US has made in payment technology, it still clings to the past when it comes to credit card payments. You still have to sign for many in-person purchases, which is downright backwards in an era of chip-based cards and digital tokens. And the financial industry is finally ready to kiss them goodbye. As of later in April, four of the biggest credit card networks (AmEx, Discover, Mastercard and Visa) will no longer require signatures for these credit card transactions. It's up to retailers to decide whether or not to ditch handwritten approvals. As the New York Times noted, though, it's doubtful many retailers will keep up the tradition.
US visa applications may soon require five years of social media info
The State Department wants to require all US visa applicants, both immigrant and non, disclose their social media handles to the US government, CNN reports. In documents that the department will file to the Federal Register tomorrow, it proposes that nearly every individual applying for a US visa be required to hand over any social media handles used on certain platforms in the past five years as well as submit any telephone numbers and email addresses used during that same time period.
Coinbase promises refunds after repeatedly charging crypto fees
A number of Coinbase customers found themselves hit with duplicate charges for a single card-based purchase over the past few days. Some even reported losing tens of thousands after being charged 17, even 50, times. In a blog post updating customers about the situation, the cryptocurrency exchange has promised to "ensure that each affected customer will be refunded in full for any erroneous charge." The company said that after conducting an internal investigation, it has determined that the problem was a result of Visa reversing and then recharging transactions. As you know, it usually takes a while for both debit and credit card refunds to show up.
Visa will make signatures optional for chipped credit cards
It's been about a month since American Express and Mastercard decided to stop requiring signatures for EMV chip credit cards. Now Visa is joining their ranks, making signatures optional for chipped transactions in North America.
New UK Visa card lets you spend Bitcoin like normal money
With Bitcoin trading at all time high, investors are working out whether it's best to sit on their stockpile or make the most of it while they can. For those wishing to utilise their investment, opportunities can be limited, with only a small number of big companies currently supporting cryptocurrency transactions. London Block Exchange (LBX) wants to change that. It's launching a new Visa debit card that will let users spend their Bitcoin (and other digital currencies) anywhere across the UK.
Visa swaps payment cards for NFC gloves at the Winter Olympics
Visa is very fond of showing off its tap-to-pay technology at the Olympics, and that's truer than ever with the 2018 Winter Olympics around the corner. The payment giant is selling a trio of NFC-equipped gadgets to help you shop at the PyeongChang games, most notably a set of winter gloves. Yes, you can pay for that souvenir without freezing your hands as you reach for a credit card or even your phone. You won't have to use them or the other devices at the games, but they'll come with prepaid values of between 30,000KRW to 50,000KRW ($27 to $45) to encourage shopping in South Korea. Visa hasn't offered pricing.
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.
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.
Automated English visa test struggles to understand English
An Irish veterinarian's application for an Australian visa has been rejected after she failed to pass an automated English proficiency test, despite completing it in her native language of... English. Louise Kennedy, who has two degrees (both obtained in English), wanted to apply for permanent residency in the country on the grounds of her job, which is classed as a shortage profession. Despite acing the reading and writing parts of the test she didn't score highly enough on oral fluency, as it seems the machines couldn't understand her accent. The Pearson Test of English (PTE) Academic is an automated system that asks applicants a number of questions and records their vocal responses which are analyzed and scored. The Australian government demands a score of at least 79 points. Kennedy scored 74.
Shopify goes after Square with a new mobile credit card reader
Shopify just released its new card reader that makes it easy for merchants to complete credit or debit card-based sales on the go. The reader accepts chip dips or swipes and works with Visa, Mastercard, American Express and Discover. It connects wirelessly to Android and Apple phones via Bluetooth and at full charge can carry out 400 chip dips and 700 swipe transactions.
Afghan girls robotics team will compete in the US after all
An all-girl robotics team from Afghanistan that was denied a visa to participate in the First Global Challenge robotics competition will be allowed to enter the US after all. The White House confirmed that the Department of Homeland Security (DHS) reversed the visa denials for the six teen girls, reportedly after President Trump personally intervened.
Visa dreams of turning your entire home into a cash register
In a world where you can pay for goods with the tap of your phone, send money to anyone with an app and do most of your shopping online, credit cards seem a bit long in the tooth. Visa is looking to toss them almost completely, replacing them with a process that makes paying for stuff online as simple as tapping any internet-connected device in your house, no credit card terminals or filling in of forms needed.
US is now asking for visa applicants’ social media names
Last month, the Trump administration formally proposed tougher vetting for visa applicants that would require more social media scrutiny. Today, the State Department formally enacted the expanded questionnaire, which will force applicants to disclose their social media handles from the last five years and biographical information going back 15 years.
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.
