Tag: Credit card

These services cost more in Canada than anywhere else in the world – here’s why | CTV News

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As the cost of living rises in Canada, many are struggling to afford housing, transportation, gas and even food. But data shows that even before the COVID-19 pandemic, the costs of everyday products and services in Canada have been some of the most expensive in the world. Here’s where Canadians end up paying more than other countries, and why: Read full story here: These services cost more in Canada than anywhere else in the world – here’s why | CTV News

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New Normal: Are Canadians Ready To Go Cashless After Coronavirus? | CTV News

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TORONTO — As the pandemic loomed, Lillian Elliott and her partner Sheryl Davies headed to the ATM to stock up on a bit of cash. They haven’t touched it since. The residents of Montague, P.E.I. had made it a habit of budgeting using cash in envelopes but since fears of transmission of COVID-19 has given widespread pause to handling bills and coins, the two have entirely shifted to using a credit card for expenses. “I just don’t want to be touching money right now,” says Elliott, but she can’t foresee…

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Data For A Whopping 26 Million Stolen Payment Cards Leaked In Hack Of Fraud Bazaar | Arstechnica

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A thriving online bazaar selling stolen payment card data has been hacked in a heist that leaked the records for more than 26 million cards, KrebsOnSecurity reported on Tuesday. The 26 million figure isn’t significant only to the legitimate consumers and businesses who own the stolen cards or the financial institutions that issued them. Fortunately for the card owners, the database is now in the hands of affected financial institutions, who can invalidate and replace the cards. Read full story here: Data For A Whopping 26 Million Stolen Payment Cards…

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Unless You Want Your Payment Card Data Skimmed, Avoid These Commerce Sites | Ars Technica

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More than 100 e-commerce sites around the world are infected with malicious code designed to surreptitiously skim payment card data from visitors after they make purchases, researchers reported on Wednesday. Among those infected are US-based websites that sell dental equipment, baby merchandise, and mountain bikes. Read full story here: Unless You Want Your Payment Card Data Skimmed, Avoid These Commerce Sites | Ars Technica

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‘Is That Even Legal?’: Companies May Be Sharing New Credit Or Debit Card Information Without You Knowing | CBC News

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A Vancouver woman is sounding the alarm for millions of Canadians who have credit and debit cards, after information about her debit card was shared when it shouldn’t have been. Vanessa Acuña blames an “updating service” that some credit and debit card companies have that allows new account numbers and expiry dates to be shared with merchants customers have dealt with in the past. Read full story here: ‘Is That Even Legal?’: Companies May Be Sharing New Credit Or Debit Card Information Without You Knowing | CBC News

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MasterCard Won’t Let Companies Automatically Bill You After Free Trials | Engadget

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We’ve all made the mistake of starting a free trial and forgetting to cancel it before the billing period kicks in. Now, MasterCard will protect against this. The company announced a new policy that will require merchants to get authorization from you before hitting you with recurring charges for subscriptions. It will also require companies to provide you with monthly updates with pricing and clear instructions on how to cancel if you need it. Read full story here: MasterCard Won’t Let Companies Automatically Bill You After Free Trials | Engadget

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Pilot Project Demos Credit Cards With Shifting CVV Codes To Stop Fraud | Ars Technica

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US-based PNC Bank is in the middle of a pilot project that aims to test out credit cards with constantly changing card verification values (or CVVs) to reduce online credit card fraud. The dynamic CVV is displayed on the back of such a card in e-ink, and changes according to an algorithm supplied by Visa. Read full story here: Pilot Project Demos Credit Cards With Shifting CVV Codes To Stop Fraud | Ars Technica

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‘You’re Gonna Lose Your Money’: Air Canada Online Glitch Leaves Retiree On Hook For Flight He Didn’t Book | CBC News

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A Winnipeg retiree fought back after finding himself on the hook to pay for an Air Canada flight he didn’t book, and never took. Claude Neblett was charged more than $700 after a website malfunction took his credit card details, but didn’t issue him an airline ticket. “I was very, very angry. Very upset,” said Neblett, who lives on a fixed income after retiring from Canadian Pacific Railway more than a decade ago. “But then I calmed myself down I said, well, I will try every means to get my refund.”…

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Why Aren’t Chip Credit Cards Stopping “Card Present” Fraud In The US? | Ars Technica

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A security analysis firm called Gemini Advisory recently posted a report saying that credit card fraud is actually on the rise in the US. That’s surprising, because the US is three years out from a big chip-based card rollout. Chip-based cards were supposed to limit card fraud in the US, which was out of control compared to similar fraud in countries that already used EMV (the name of the chip card standard). Gemini Advisory now says that 60 million credit and debit card numbers were stolen in the US in…

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Hidden Camera Reveals How Bank Employees Mislead And Upsell On Pricey Credit Card Insurance | CBC News

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A Marketplace hidden camera investigation is raising questions about how bank employees are selling a pricey and controversial product marketed to help with credit card payments if you lose your job or get sick. It’s called credit card balance insurance, or balance protection insurance — and if you’ve signed up for a credit card, chances are you’ve been asked to buy it. But many experts say the insurance comes with high fees — typically a percentage of a cardholder’s outstanding balance — and so many exclusions it can be hard…

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