Costco Switches from American Express to Visa

Millions of Costco members are finally ready to get rid of their American Express credit cards (aka Amex cards) to shop at Costco, the giant Seattle based Wholesale warehouse. Costco has about 81 million members worldwide, and the company has recently started accepting Visa cards instead of Amex cards. The move is a major advantage…

Wal-Mart sues Visa

The swipe fee antitrust lawsuit that The Official Merchant Services Blog has been covering for a few years now has an update: Wal-Mart, accusing Visa of excessively high card swipe fees, is suing Visa for $5 billion. The action by Wal-Mart is being taken because Wal Mart opted out of the settlement of the class…

PayPal President Hacked

Twitter, the modern equivalent of Mad Libs and the yellow journalism of the late 19th century, has revealed to us a gem of irony that makes the whole Target getting hacked story seem that much more poignant. No one is safe in this bold new era of credit card hackers and identity thieves. Not even…

Can Chip Cards Stop the Hax?

The massive data breach at Target is a big shining beacon illuminating exactly how behind the times the United States remains when it comes to credit card security — namely EMV® chip technology. EMV is a worldwide standard for credit and debit card payments based around the use of chip card technology. The acronym stands for Europay, MasterCard,…

iCloud Keychain to Now Store Credit Card Data

Apple’s recent software update includes a new product called the iCloud Keychain. With the feature, consumers can save sensitive information in a secure online file. Specifically, Keychain will save passwords and credit card information for all of their Apple devices. The program also helps Internet users create safer passwords.  Given the new functionality allowing users…