Gift card

So many consumers don’t use the entire amount of money on their gift cards.

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Payments Innovations Making Your Purchases More Secure in 2020 and Beyond

Credit card issuers and merchants are not only searching for the fastest and most convenient solutions for customers, but also those that will make us feel more secure in making a purchase in-store or clicking to buy online. Here are some ways today’s payments technologies will continue to evolve in 2020, and how you can do your part to keep your personal data secure. [Bankrate]

U.S. Gas Stations Rush to Adopt Chip Cards After Failed Bid to Delay Deadline

Gas stations around the U.S. are rushing to upgrade fuel pumps to accept debit and credit cards with chips after Visa and Mastercard rejected a request to delay a looming deadline to complete the work. Beginning in October, station operators that haven’t modernized their pumps will face liability for any card fraud that happens at their businesses. Most retailers began to upgrade payment systems in 2015. For fuel retailers, the deadline was ultimately pushed back five years as the industry faced costs of more than $3.9 billion to do the work. [Bloomberg]

The Insanely Popular Chase Sapphire Reserve Credit Card Just Got More Expensive

The Chase Sapphire Reserve is pushing the envelope on what credit card customers can get from, and are willing to pay for, a super-premium rewards credit card, with an annual fee hike and a couple of trendy new perks. Starting on January 12, new cardholders will pay an annual fee of $550, an increase of $100. Sapphire Reserve cardholders will get free membership in food delivery platform DoorDash’s subscription DashPass service. The second new perk is a one-year enrollment in Lyft’s new Lyft Pink program. [Money]

US Consumers Took It Easy on Their Credit Cards in November

U.S. consumers slowed their borrowing in November, mainly by piling up less credit card debt. The Federal Reserve said Wednesday that consumer credit rose by a seasonally adjusted $12.5 billion in November, down from a gain of $19 billion in October. November’s was the weakest showing since credit card debt fell by $2.8 billion in March. [Associated Press]

Mastercard Develops Mobile AR App to Explain Rewards & Benefits to Cardholders

It’s a good sign for any emerging technology when one of the leaders of an industry adopts it. So when Mastercard decides to develop a mobile augmented reality app, the moment is a milestone for the AR industry. The company announced that it will launch a new AR app that will enable cardholders to explore rewards, benefits, and services available through virtual portals. [Next Reality]

Fintechs Get More Aggressive and Creative Around Debit Card Rewards Programs

To encourage users to swipe more, we’re seeing a resurgence of rewards programs around debit card usage, something that waned after the financial crisis of 2008 and new regulation that capped fees for debit cards. Over the last year, we’re seeing big names offer cash back on certain purchases and sometimes cash back across the board. There’s more competition in the space. There’s also a growing demand among customers, especially younger ones, to use debit cards rather than credit cards. They want rewards but they want to get them with debit. [Tear Sheet]

Mastercard Releases Music Single as Part of Sonic Branding Initiative

Mastercard unveiled its first-ever branded music single, a collaboration with Swedish artist Nadine Randle. The release of the song, entitled “Merry Go Round,” ties in with Mastercard’s recently-announced “sonic brand,” a six-note jingle that plays when users make a transaction with one of the company’s cards. [Billboard]

Sprint, Wirecard Announce IoT Collaboration Focused on Retail Payments

In an effort to allow businesses to offer a variety of payment options in the enterprise space, Sprint is integrating Germany-based Wirecard AG’s unified commerce payments technology into the Sprint Curiosity Internet of Things platform. The companies will initially focus on the retail segment, offering a payments platform that can operate across various platforms and across borders. [Mobile Payments Today]

Las Vegas Data Breach Announced Amid Warnings Of Iranian Cyber Threat

A data breach in Las Vegas comes amid tensions with Iran and a warning from homeland security of quote “potentially disruptive and destructive” Iranian cyber operations. The city of Las Vegas experienced a cyber compromise at 4:30 a.m. PST Tuesday. A major cybersecurity attack could harm banks, the economy, and threaten how our society functions as a whole. [Information Security Buzz]

What to Expect from Cryptocurrency Legislation in 2020

One of the most heated debates in the cryptocurrency space is the future of regulation and whether financial regulatory bodies should oversee the trading of crypto coins. Just last month, a group of United States congressmen put forward a new cryptocurrency bill labeled the ‘Cryptocurrency Act 2020’. The goal of the new legislation is to provide additional clarification on digital asset regulations. The bill has some wide-ranging regulations that, if voted into law, could reshape the crypto landscape moving forward, at least in the United States. [Yahoo Finance]

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Consumers Waste Up to $3 Billion in Unspent Gift Cards a Year

A prepaid gift card may be a popular holiday present, with more than half of U.S. consumers purchasing one this season, but that doesn’t mean they’re used wisely: About $3 billion in cards will go unredeemed this year alone. As much as 3% of gift card dollars are never redeemed. [CBS News]

Payments Innovations Making Your Purchases More Secure in 2020 and Beyond

Credit card issuers and merchants are not only searching for the fastest and most convenient solutions for customers, but also those that will make us feel more secure in making a purchase in-store or clicking to buy online. Here are some ways today’s payments technologies will continue to evolve in 2020, and how you can do your part to keep your personal data secure. [Bankrate]

U.S. Gas Stations Rush to Adopt Chip Cards After Failed Bid to Delay Deadline

Gas stations around the U.S. are rushing to upgrade fuel pumps to accept debit and credit cards with chips after Visa and Mastercard rejected a request to delay a looming deadline to complete the work. Beginning in October, station operators that haven’t modernized their pumps will face liability for any card fraud that happens at their businesses. Most retailers began to upgrade payment systems in 2015. For fuel retailers, the deadline was ultimately pushed back five years as the industry faced costs of more than $3.9 billion to do the work. [Bloomberg]

The Insanely Popular Chase Sapphire Reserve Credit Card Just Got More Expensive

The Chase Sapphire Reserve is pushing the envelope on what credit card customers can get from, and are willing to pay for, a super-premium rewards credit card, with an annual fee hike and a couple of trendy new perks. Starting on January 12, new cardholders will pay an annual fee of $550, an increase of $100. Sapphire Reserve cardholders will get free membership in food delivery platform DoorDash’s subscription DashPass service. The second new perk is a one-year enrollment in Lyft’s new Lyft Pink program. [Money]

US Consumers Took It Easy on Their Credit Cards in November

U.S. consumers slowed their borrowing in November, mainly by piling up less credit card debt. The Federal Reserve said Wednesday that consumer credit rose by a seasonally adjusted $12.5 billion in November, down from a gain of $19 billion in October. November’s was the weakest showing since credit card debt fell by $2.8 billion in March. [Associated Press]

Mastercard Develops Mobile AR App to Explain Rewards & Benefits to Cardholders

It’s a good sign for any emerging technology when one of the leaders of an industry adopts it. So when Mastercard decides to develop a mobile augmented reality app, the moment is a milestone for the AR industry. The company announced that it will launch a new AR app that will enable cardholders to explore rewards, benefits, and services available through virtual portals. [Next Reality]

Fintechs Get More Aggressive and Creative Around Debit Card Rewards Programs

To encourage users to swipe more, we’re seeing a resurgence of rewards programs around debit card usage, something that waned after the financial crisis of 2008 and new regulation that capped fees for debit cards. Over the last year, we’re seeing big names offer cash back on certain purchases and sometimes cash back across the board. There’s more competition in the space. There’s also a growing demand among customers, especially younger ones, to use debit cards rather than credit cards. They want rewards but they want to get them with debit. [Tear Sheet]

Mastercard Releases Music Single as Part of Sonic Branding Initiative

Mastercard unveiled its first-ever branded music single, a collaboration with Swedish artist Nadine Randle. The release of the song, entitled “Merry Go Round,” ties in with Mastercard’s recently-announced “sonic brand,” a six-note jingle that plays when users make a transaction with one of the company’s cards. [Billboard]

Sprint, Wirecard Announce IoT Collaboration Focused on Retail Payments

In an effort to allow businesses to offer a variety of payment options in the enterprise space, Sprint is integrating Germany-based Wirecard AG’s unified commerce payments technology into the Sprint Curiosity Internet of Things platform. The companies will initially focus on the retail segment, offering a payments platform that can operate across various platforms and across borders. [Mobile Payments Today]

Las Vegas Data Breach Announced Amid Warnings Of Iranian Cyber Threat

A data breach in Las Vegas comes amid tensions with Iran and a warning from homeland security of quote “potentially disruptive and destructive” Iranian cyber operations. The city of Las Vegas experienced a cyber compromise at 4:30 a.m. PST Tuesday. A major cybersecurity attack could harm banks, the economy, and threaten how our society functions as a whole. [Information Security Buzz]

What to Expect from Cryptocurrency Legislation in 2020

One of the most heated debates in the cryptocurrency space is the future of regulation and whether financial regulatory bodies should oversee the trading of crypto coins. Just last month, a group of United States congressmen put forward a new cryptocurrency bill labeled the ‘Cryptocurrency Act 2020’. The goal of the new legislation is to provide additional clarification on digital asset regulations. The bill has some wide-ranging regulations that, if voted into law, could reshape the crypto landscape moving forward, at least in the United States. [Yahoo Finance]

(Excerpt) Read more Here | 2020-01-10 21:02:36
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