It sounds like a great idea. A host of new credit and debit cards issued by big financial players like Chase and MasterCard come armed with small computer chips and radio antennae that allow consumers to make payments by literally waving their plastic over a card reader. But according to a story in Consumer Reports Magazine,… Continue reading Risky New Bank Card Technology – Is Your Card At Risk
Tag: Debit card
FTC Charges Marketers with Deceiving Small Businesses
As alleged in the complaint, MSD sales agents typically call small businesses and lead them to believe they are associated with the businesses’ current card processor, Visa, MasterCard, or their bank. The sales agents allegedly promise substantial savings on credit and debit card processing, specifying a much lower rate than the business is currently paying. Agents quote one fee, a fixed per-transaction cost, without mentioning all the other fees the businesses will have to pay, and when asked if there are other fees, merchants are allegedly told there are none.
Swipe-Fee Rule Rejection Helps Merchants and Banks’ Cost
Before Federal Reserve regulations cut back on perks such as reward programs and free checking to soften the blow, Lenders collected about $16 billion annually from swipe fees. Unless overturned, the decision will force regulators to revisit rules that bankers said would cost them 45% of their swipe-fee revenue.
First Tennessee Bank Introduces Its New Debit Card for UT Vols Fans
First Tennessee Bank, a longtime corporate supporter and the official bank of the University of Tennesse’s Vols and Lady Vols, already offers Big Orange checking, with personalized checks.
The Occupy Prepaid Card: The Occupy Money Cooperative is being launched
Nearly two years after the Occupy Wall Street movement grabbed the attention of the media, politicians and general public, the rag-tag collection of protesters is back in the news. This time, however, the loose coalition – whose ire was targeted at the financial and political institutions that cement advantages for a few while ignoring the… Continue reading The Occupy Prepaid Card: The Occupy Money Cooperative is being launched
Fifth Third Bank’s New ‘Stand Up to Cancer’ Debit Card Offering Drives Funding for Cancer Research
Fifth Third Bank this week announced the launch of the Fifth Third Stand Up to Cancer Debit MasterCard. Stand Up To Cancer is a groundbreaking initiative that facilitates scientific collaboration to accelerate innovative cancer research and bring new therapies to patients quickly. The card is now available by visiting any of the Bank’s more than… Continue reading Fifth Third Bank’s New ‘Stand Up to Cancer’ Debit Card Offering Drives Funding for Cancer Research