Credit Cards in the News: September 12-18, 2015

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Credit card news pops up every week and it’s not always easy to keep track of each story, especially all the stories about credit card fraud. That’s why we provide you with a summary of the top stories on CompareWallet so you can read what matters the most and not have to worry about all the other stuff. Here are the highlights for September 12-18, 2015.

Two Men Plead Guilty in Largest US Hacking Case

On Wednesday, a Russian man accused of selling 160 million credit and debit card numbers pleaded guilty and will spend 30 years in prison. The following day a second Russian man admitted to being a black-market broker for the largest computer hacking ring to hit America. The two men and three others stole user names and passwords, personal identification information, and credit and debit card numbers from 2005 to 2012. Information was stolen from companies such as NASDAQ OMX Group Inc., 7-Eleven Inc., Carrefour SA and J.C. Penney Co. Read more…

Merchants Not Yet Ready for Mobile Wallet Transactions

It appears that the mobile wallet revolution won't be occurring as quickly as some consumers and businesses had hoped. While consumers are signing up to use mobile wallets because they are convenient and secure, most merchants just aren't able to accept them as a form of payment. With the looming Oct 1. EMV deadline, many had hoped that payment terminals in stores around the country would be updated to accept both chip cards and mobile payments, but a recent survey revealed that only 27% of all U.S. merchants will be prepared for the shift with new POS systems. Read more...

Google Announces Android Pay

Google has reportedly told USA Today that Android Pay will begin showing up in the Google Play store and will be available to all users this week. In terms of using your phone as a credit card, reports are that the experience is similar to Apple Pay and the old Google Wallet. Unlike Apple Pay, Android Pay does not require a fingerprint scanner to authorize payments. Users without a sensor can verify purchases with a four digit PIN code. Read more…

An Avant-Garde Credit Card

A designer named Li Wenkai has developed a new concept for credit cards that could create a huge convenience for cardholders. The concept, called Avant Garde Card, proposes to place a shallow 1mm protrusion high on either side of the credit card to create a "bump." The bump would allow easier manipulation of a card when extracting from a wallet or lifting off a table. The designer further envisions the bump concept added to cards such as business cards and drivers’ licenses. Read more...

The Top 10 Credit Cards in the U.S.

New for 2015, this comprehensive list of the top 10 credit cards available in the U.S. today is ranked based on the various offers available for each card. People generally apply for credit cards to meet a specific need, such as transferring a high-interest credit card to a low interest credit card or to earn rewards for all purchases. This list provides the top reason someone would sign up for each credit card. Read more…

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