Americans continue to pay down revolving debt balances after all, as pessimism may be curbing consumer credit growth

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News 4 new results for “Near Field Communications” Stevens Student Research Protects Credit Card Owner Privacy PR.com (press release) Students at Stevens Institute of Technology built a prototype for a software-defined radio system that defends credit card near-field communications chips from being read illegally. Their system was recognized with 3rd place at the RIT . . . → Read More: Stevens Student Research Protects Credit Card Owner Privacy

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A recent Spacenet piece highlighted the importance of managed networks in the Payment Card Industry as the Data Security Standard Program (PCI DSS) has established a standard set of security riles created by major credit card companies that offer merchants and service providers a complete and unified approach to protecting the information of the cardholder. When a company has launched a managed network, it is important that this network can still comply with the PCI DSS program in all transactions.

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San Francisco here it comes – New York City and San Francisco have been selected for the Google Wallet and Google Offers wireless payment system. Google Wallet stores your credit card information, tracks bonus points and purchases. Google…

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Chicago, IL, United States (AHN) – Michaels Stores is working with federal authorities to resolve what it believes to be PIN pad tampering in its Chicago-area stores.

The Texas-based company says credit and debit card information may have been stolen, a suspicion confirmed by reports from customers on the retailer’s Facebook page about unauthorized activity with their cards.

Michaels said it was alerted by authorities this week after customers who shopped at its stores reported illegal activity with their debit card accounts. The retailer is urging customers to check their accounts for any illegal transactions, and to change their PIN numbers. Consumers who believe they were victims of fraud should inform their bank immediately.

Authorities are still investigating the data breach. Michaels is the largest arts and crafts retailer in North America, with more than 1,000 stores.

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The information contained in the analysis is so misleading it casts doubt on NCUA’s ability to understand the issue and its impact on credit unions….[ Read Article ]

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Speaking over the weekend, PlayStation head Kaz Hirai admitted that up to 10 million user’s credit card info were possibly stolen. Apologizing, Hirai says: “We deeply apologize for the inconvenience we have caused.” The company does say that it does not believe any credit card info was actually stolen, but it is the first admission that comes complete with a figure. When the PSN relaunches this week, everyone will need to download a system update and change their passwords. As a small form of compensation, Sony will start a “Welcome Back” program, offering up some “entertainment content” for free and a free 30-day subscription to the premium PlayStation Plus.

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More than $3,000 charged to credit and debit cards

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Bloomington, Mn. Sunday 12/27/10 Arthur Skov of Hastings handed his credit card to Alohadrah Reese who was working the register at Best Buy. Skov bought $ 575 worth of tech gadgets and …

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A large percentage of credit card offers include an insurance provision for car rentals. A nice perk, especially for people who travel a lot; but like the details in any contract, the fine print needs to be thoroughly examined. Don… Noreen Panizzoli April 05, 2011

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