Visa Interchange Rates Postponed Until April 2021 Visa recently announced that the majority of their interchange rate changes previously announced for April and October 2020 in the U.S. are now deferred to April 2021, with two exceptions: Visa will move forward with consolidating downgrade categories such as EIRF and Standard into a new Non-Qualified interchange […]
Payroll Protection Program for Businesses And Contractors
Payroll Protection Program (PPP) is live for businesses and will go live on April 10th for Independent Contractors (1099). To apply for the forgivable loans, business owners have to contact their bank. Independent contractors have to wait until April 10th. Note, that the assistance loan link on SBA web site is for non-forgivable loans ONLY.
Card Brands Drastically Increase E-Commerce Fees as America goes into Lock Down
In a prescient move, Visa has dramatically increased their fees for online processing, effective April. Mastercard also raised rates on two of their buckets. Discover and America express have increased the assessment fees by a point each. Businesses switching to or already processing most of their transactions online, may see up to 40pts hit on […]
Best Buy latest to suffer breach
One of the nation’s largest technology retailers was hit with a cyberattack, one that may have exposed consumers’ sensitive financial information to prying eyes.
Atlanta in recovery mode after vicious ransomware attack
City services were stymied on March 22 when a ransomware strain – dubbed SamSam – hit Atlanta’s servers.
Panera Bread latest business giant hit by breach
Hackers were able to successfully breach Panera Bread’s website, surfacing the credit card information specifics of a disputed number of customers.
Saks Fifth Avenue suffers breach
Luxury brand Saks Fifth Avenue is the latest to fall victim to a data breach, the hacker exposing sensitive data conducted via credit card processing.
Millions of Americans typically use the same credit card, poll suggests
An estimated 49 million Americans tend to go with the same credit card when paying for goods or services by credit, based on a new poll.
Debit card breaches jump 10 percent in 2017
Recognizing the frequency with which card processors are used, fraudsters targeted debit cards in 2017, resulting in a sharp increase in reported breaches, according to newly released statistics.
Nearly 17 million identities stolen in US last year
Approximately 16.7 million Americans were victimized by fraudsters last year, based on newly released figures from Javelin Strategy & Research.