Credit Cards

The year 2019 is shaping up to be the worst year yet for data breaches, according to a recent report from Risk Based Security Inc. Through the year’s first half, 3,813 breaches were reported, up 54% from a year earlier. Those breaches exposed more than 4.1 billion consumer records, up …

Banking giant JPMorgan Chase & Co. will pull the plug on its Chase Pay mobile app in early 2020, though the payment service will continue online and in some merchant apps. Chase disclosed the coming changes in an email notice to customers Wednesday. The notice gives no reason or exact …

More than a score of Texas cities have been hit with ransomware, crippling their municipal computer systems and accounting for one-third of all municipal ransomware attacks so far this year, according to Armor Defense Inc., a cloud-security company. It released a ransomware report Tuesday. Among the latest cities is Borger, …

CannaTrac Technology Inc., a cashless payment provider to the cannabis industry under the CannaCard brand, announced a letter of intent with an unnamed cannabidiol distributor to create an online-payment service using the CannaCard platform. CannaTrac said the distributor’s clients currently generate $80 million in annual revenue and will use CannaCard …

As merchants, consumers, and financial institutions contend with the aftereffects of unceasing data breaches, Visa Inc. is adding new products to help prevent and disrupt payment fraud. Announced Tuesday, the roster of new products include Vital Signs, which monitors transactions and alerts financial institutions to signs of potential fraudulent activity …

Point-of-sale equipment maker Scansource Inc. announced it will divest distribution businesses in Europe, the United Kingdom, Colombia, Chile, and Peru, as well as its Miami-based export operation, as part of a strategic repositioning. The businesses totaled $623 million in net sales in fiscal 2019.Apple Inc. said its Apple Card is now open to all U.S. …

Cash may still be king among consumers for purchases of $10 or less, but its market share is steadily being eroded by credit and debit cards, says an annual survey from CreditCards.com. The most recent edition of the survey, released late last week, reveals that 43% of respondents with rewards …

Rite Aid Corp. selected Bank of America Merchant Services to process transactions at its 2,400 stores nationwide and on its Web site. BAMS processes under an agreement with First Data Corp., now part of Fiserv Inc., though the companies announced July 30 the collaboration will end next year.The 7-Eleven Inc. convenience-store chain has launched in …

A CreditCards.com poll found that 49% of U.S. adults usually pay with cash for transactions of less than $10. Thirty-five percent use debit cards and 16% use credit cards. The survey canvassed more than 2,500 adults in July.Eighty-two percent each of Generation X consumers and Baby Boomers buy in-store at least monthly, Blackhawk …

Payment card standards body EMVCo on Thursday disclosed proposed specifications changes to accommodate the coming of longer issuer identification numbers on credit and debit cards, changes that could affect merchants using card numbers to identify their loyalty program members in addition to processing protocols. The changes stem from a revised …