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News Tips & Updates on Credit Card Technology

With EMV, benefits far outweigh minor risks

Monday,29th September, 2014
One of the hardest parts of using the World Wide Web is deciding whom you should believe -- and whose information you should dismiss. There are times when being able to discriminate between these is critical. If you insist on running your symptoms past MedicalSchoolDropout.com, you could easily have sleepless nights worrying about nothing. Or, worse, you might be falsely reassured, and put off visiting your family doctor at a time when it's urgent you do so. Incidentally, this writer recently asked a senior attending surgeon at a major hospital how she felt about patients turning up with their own .......

Is Apple Pay going to kill your credit card?

Tuesday,16th September, 2014
For some time now, The Motley Fool has been talking about an innovation that it thinks could "spell disaster for credit card companies" and their grip on their "$21.6 trillion" global market. The innovation? Near-field communication, more commonly abbreviated to NFC, which is the technology that allows you to make in-store payments using a smart device. It's actually a low-power wireless link, which is used to transfer small quantities of data between two devices positioned a few inches apart. In this case, one of them is your smartphone or tablet and the other is an enabled point-of-sale (POS) terminal. Obviously, you .......

Needled by PINs: Why bankers think you're dumb

Monday,14th April, 2014
Do bankers think we're stupid? You can see why they might. For decades, we stood back and watched as they extracted huge wealth from the economy through rip-offs and exotic financial instruments that even they didn't fully understand. We allowed them to argue for -- and achieve -- greater and greater deregulation, and barely raised an eyebrow when, through lobbying and campaign contributions, they bought and paid for successive congresses. (Referring to Capitol Hill, Sen. Dick Durbin, D-Ill., once observed that bankers "frankly own the place.") Then we, the public, bailed them out to the tune of anything between several .......

Big new changes unveiled for credit cards

Monday,17th March, 2014
Regular readers already know about the coming EMV revolution that should soon see (in fact, American Express just launched one) U.S. credit cards come loaded with ultra-secure microprocessor chips. That's important because it could drive down some types of card fraud, but -- given that the technology has been around in parts of Europe for decades -- it's hardly the sort of innovation to get a technophile's pulse racing. However, the end of February saw Barcelona, Spain host the Mobile World Congress 2014, and plenty of amazing new card technologies were unveiled, demonstrated or discussed there -- including some that .......

Is 2014 the year your credit card gets a chip?

Monday,03rd February, 2014
Recent problems at Target and Neiman Marcus have once again brought debit and credit card security into the headlines. But perhaps the issue should never have gone away. Last September, IndexCreditCards.com covered research from The Nilson Report that showed America to be the global leader in card fraud -- and not just because we're also global leader in card use (though we are). Fewer than one quarter of all the world's card transactions take place in the United States, but very nearly half (47.3 percent) of fraudulent ones occur here. In December 2013, the Federal Reserve published a study that showed .......

Might bitcoins replace credit cards?

Monday,23rd December, 2013
Earlier this month, Time.com published a piece by reporter Jessica Roy in which she described her experiences when purchasing every item on her Christmas gift list using bitcoins. She wrote, "...bitcoins are a far more secure method of payment than your credit card, so if you use them, there's little reason to fear identity thieves as other shoppers might." Wow. That sounds pretty good. Should you seriously consider trading in your plastic for a pile of virtual bitcoins? It's almost impossible to overstate the extent to which the answer to that should be a resounding "No!" What is Bitcoin? Bitcoin is effectively a .......

Yet another revolution in credit card technologies?

Monday,23rd September, 2013
IndexCreditCards.com has previously reported on how near-field communications (NFC) was set to revolutionize the way we pay using credit cards and other plastic. Now, quite suddenly, it appears that a newer technology may be set to knock NFC out of the race. NFC You're probably familiar with NFC. In fact, you may already have used it, because it's out there in various stores, restaurants and so on. It's the technology that enables you to wave an enabled card or smart device near a terminal at a point of sale (POS) instead of handing over a card to be swiped. You then authorize .......

Credit cards, shopping and crystal balls

Monday,22nd July, 2013
Every so often, we in this corner of cyberspace give our readers a heads-up on technologies that are affecting -- or may soon affect -- their experiences when shopping or using their credit cards. Sometimes, we get things spookily right. Just weeks before Edward Snowden began his odyssey around some of the world's most oppressive and instrusive regimes, we highlighted in Big data: Who is watching your credit card use? how government and businesses are using big data to spy on citizens and consumers. Admittedly, we missed the NSA off this list, although we would have included it, had we happened .......