Visa, MasterCard Commit to Long Overdue 'Chip and PIN' Switchover

The swipe-and-sign credit card transaction for U.S. consumers will soon be history, replaced by the “chip and PIN” process already in use throughout Europe and other parts of the world. The Wall Street Journal is reporting that Visa and MasterCard are committed to replacing the old swipe system by October 2015.

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PayPal: You're Protected With Us (Unlike Card Users at Target)

PayPal has sent out an email to its users that’s takes a bit of a cheap shot at Target’s huge security breach, during which the accounts of 40 million credit and debit card users were stolen. It’s also a bit of a swipe at Visa and MasterCard, the two payment network giants.

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Retailers' Lawsuit: Visa, MasterCard Exploit Their 'Market Power'

It’s official. There is an all-out legal war over interchange fees — those “swipe” fees that merchants pay banks based on rates and policies set by the giant credit card networks of Visa and MasterCard. The latest twist comes in the form of a new lawsuit filed by some of the biggest U.S. retailers.

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