All articles tagged with #debit cards
Google Wallet for Android is introducing app shortcuts that allow users to place credit and debit cards on their homescreen for easy access. These shortcuts display a picture of the card, the credit card network, and the last four digits, and can be dragged to the homescreen for one-tap access. This feature aims to streamline the process of accessing and switching between cards within the app.
New York City's pilot program to provide prepaid debit cards to 500 migrant families for purchasing food and baby supplies has faced criticism from right-wing critics who questioned the fairness and potential for abuse. The cards, intended for use at supermarkets and grocery stores, would be loaded with approximately $12 per day per person, totaling around $1,440 per month for a family of four. Mayor Eric Adams defended the program amid concerns about cost and the selection of the financial services company overseeing it.
The US Supreme Court is considering a case that could make federal regulations more susceptible to legal challenges, as a convenience store seeks to revive a lawsuit targeting a 2011 Federal Reserve rule on debit card "swipe fees." The store argues that it should not be bound by the six-year statute of limitations for legal challenges to regulations, while the Biden administration warns that adopting this position could expand the class of potential challengers to government regulations. The outcome could have significant implications for businesses, consumers, and regulatory regimes.
Buying a lottery ticket with a credit card can result in high fees and no rewards, as it is likely to be processed as a cash advance. Cash advances come with additional fees and higher interest rates compared to purchases or balance transfers. Some states even prohibit purchasing lottery tickets with credit cards. It is recommended to use cash or a debit card instead, with options like the Axos Bank CashBack Checking that offers no fees and rewards for signature-based transactions.
Mastercard has instructed financial institutions to cease allowing marijuana transactions on its debit cards, dealing a blow to the cannabis industry in the United States. Despite the legalization of marijuana in several states, it remains illegal at the federal level, leading most banks to avoid servicing cannabis companies. Mastercard's decision is seen as another setback for the state-legal cannabis industry and its consumers, who are seeking access to safe and legal cannabis products. The move comes as the industry continues to advocate for cannabis reform and the passage of the SAFE Banking Act, which would facilitate easier access to banking services for the cannabis sector.
Three suspects installed card skimming devices at Walmart stores in Canandaigua and Geneva, New York between July 2 and July 5. The devices were discovered on July 5, and it is unknown if any data was collected. Customers who used their credit or debit cards during that time period are advised to check their accounts for unauthorized purchases and report any suspicious activity to their financial institution and law enforcement.
Visa's Q2 profits rose 14% YoY on an adjusted basis, driven by a global increase in credit and debit card usage. The company processed $2.955 trillion in transactions on its payment network last quarter, up 10% YoY. While Visa's fortunes are still tied deeply to the performance of the global economy, its new CEO remains confident in the company's ability to manage through changing environments. Visa shares rose nearly 2% in after-hours trading.