Content about Debits and credits

February 3, 2014

The National Retail Federation urged Congress to take a comprehensive approach as it contemplates a national response to criminal cyber attacks in which millions of consumers’ credit and debit card numbers were stolen.

WASHINGTON — The National Retail Federation on Monday urged Congress to take a comprehensive approach as it contemplates a national response to criminal cyber attacks in which millions of consumers’ credit and debit card numbers were stolen. NRF said retailers are willing to do their part to improve security, but that banks and card companies must also take major steps to shore up the current fraud-prone payments system.

December 23, 2013

The chief executive of Target is reaching out to consumers in the wake of the widespread hacking of credit and debit card data at Target stores that the company confirmed last week.

MINNEAPOLIS — The chief executive of Target is reaching out to consumers in the wake of the widespread hacking of credit and debit card data at Target stores that the company confirmed last week.

In a statement on the mass-merchandise retailer's website, president, chairman and CEO Gregg Steinhafel sought to ameliorate customers' worries about the possibility that their cards were compromised. He emphasized that the issue had been "identified and eliminated," while the retailer extended a 10% discount to customers who shopped at its stores on Saturday and Sunday.

December 19, 2013

About 40 million credit and debit card accounts of Target customers were compromised between late November and the middle of this month, the mass merchandise retailer said Thursday.

MINNEAPOLIS — About 40 million credit and debit card accounts of Target customers were compromised between late November and the middle of this month, the mass merchandise retailer said Thursday.

Target confirmed earlier reports from the online security blog Krebs on Security that the company experienced a breach affecting nearly all of its stores. The breach was initially thought to have started the day before Thanksgiving and ended on Dec. 6, but investigators later found that it had lasted until Sunday.

August 26, 2013

Members of Sears Holdings Corp.'s loyalty program can increase their reward points by linking certain credit and debit cards to their accounts, the retailer said Monday.

HOFFMAN ESTATES, Ill. — Members of Sears Holdings Corp.'s loyalty program can increase their reward points by linking certain credit and debit cards to their accounts, the retailer said Monday.

The company said members of the Sears and Kmart Shop Your Way program could link up to three eligible Visa cards to their account and use it at any number of Reward Partner merchants, such as Burger King, Popeyes, Louisiana Kitchen, Picture People, Public Storage and 1-800-Flowers.com.

August 19, 2013

Global losses from credit, debit and prepaid card fraud reached $11.27 billion, an increase of 14.6% over the year before, according to a new report.

CARPINTERIA, Calif. — Global losses from credit, debit and prepaid card fraud reached $11.27 billion, an increase of 14.6% over the year before, according to a new report.

July 26, 2013

A company in Finland is about to launch a payment system that allows customers to use their face, according to published reports.

NEW YORK — Pretty soon, retail clerks may be asking customers if they want to pay with cash, credit or face, according to published reports. 

Popular Science reported that Finland-based Uniqul was creating a system that would take the customer's photo and then process biometric data, connecting it to their account. Customers would create the accounts using their credit or debit cards, and Uniqul said the system — which uses military encryption technology — would reduce time for payments from 30 seconds to less than five seconds.

April 22, 2013

More than 2 million credit and debit cards at nearly all of Schnuck Markets' stores may have been compromised as part of a recent hacking incident, the company said.

ST. LOUIS — More than 2 million credit and debit cards at nearly all of Schnuck Markets' stores may have been compromised as part of a recent hacking incident, the company said.

April 2, 2013

Schnucks was the victim of a recent attack on its computer network that compromised its credit and debit card system, the supermarket chain said.

ST. LOUIS — Schnucks was the victim of a recent attack on its computer network that compromised its credit and debit card system, the supermarket chain said.

Saying that it had "found and contained" the issue behind the attack, Schnucks said that a computer code discovered by an outside computer forensic firm had been designed to capture magnetic stripe data on the back of cards.