For years, the signature requirement for completing a credit card transaction has felt something like an obsolete means of confirming a user’s identity. ...more
In a recent decision, Justice Anil Singh of the Commercial Division dismissed a counterclaim asserted by Visa against Wal-Mart for fraudulent inducement. According to Justice Singh, Visa’s allegations failed to satisfy the...more
We’ve talked a fair amount about the switch to chip & pin card systems over the past few years. But how about a lack of cards altogether? Because that’s what the banks have in mind....more
There are a half a billion chip cards in the market right now. They have been touted to improve security and reduce credit card fraud. But do they? According to a new report, both Visa and MasterCard have reported that...more
Some thoughts—from Chair Yellen, herself—about why, despite pretty strong economic indicators for a pretty long time now, the Fed hasn’t begun to raise rates again....more
Payment technology company, NCR Corporation (NCR), determined last week that the new chip-based credit card technology isn’t as secure as we thought. The technology behind these chip cards that is supposed to make them more...more
A recent bombshell lawsuit by The Home Depot alleges patterns of antitrust violations, illegal collusion, and anti-competitive conduct by the Visa and MasterCard credit card networks. The suit arises in a climate in which the...more
As expected, the Fed announced yesterday that it was holding current interest rates steady and would be slow to push rates up while the economy tiptoes toward stability. Much more from Chair Yellen and economists’ reaction...more