Displaying items by tag: Credit Cards

New Zealand’s card payments market is expected to rebound strongly in 2021 registering 10.3% growth, supported by the economic revival, rising consumer spending, and growing preference for contactless payments, according to a new forecast by analyst firm GlobalData.

Changes to Westpac Group's digital gambling block feature mean more customers can restrict their spending on gambling.

New South Wales residents were the most financially impacted by scams in July, accounting for 37% of the total amount lost in the month.

Six subsidiaries of media firm Nine Entertainment have paid penalties totalling $159,840 after the competition regulator the ACCC issued them with 12 infringement notices for allegedly charging subscribers and advertisers excessive payment surcharges.

Cross-border, cross-currency money movement and payments provider Western Union has announced the expansion of its 17-year relationship with Australia Post, with the launch of Western Union digital money transfers, enabling customers to send money worldwide, 24/7, via auspost.com.au.

Australia's biggest bank, the Commonwealth Bank, is currently having issues that are impacting the usage of credit and debit cards of its customers.

One of the three people indicted by the US over involvement in stealing millions of credit card and debit card numbers, which were then either used by the gang or sold, has been sentenced to a 10-year jail sentence by the US District Court in Seattle.

Researchers at ETH Zurich, a university for science and technology studies, have used a man-in-the-middle attack to bypass the use of a PIN code by Mastercard payment cards, and also those from Maestro.

A survey of 1000 Australians has found that about half (48 percent) are now using their smartphones to make payments, either through use of an app — including mobile banking — or else through other functionality.

There has been a marked reduction in the level of fraud experienced by its merchant customers, according to the Commonwealth Bank, but despite the drop the bank has warned that small businesses must remain extra vigilant over the festive season.

A senior official from Mastercard Australasia says it is misleading to compare costs of schemes that process card present, card not present and international debit transactions with a domestic-only debit scheme, namely eftpos, that, at this stage, processes very few card not present transactions.

The number of malicious domains which are similar to that of retail giant Amazon has risen by 28% in the run-up to the firm's Prime Day on 13 October, the Israeli security firm Check Point has warned.

Global payments technology firm Visa claims it has used its artificial intelligence to prevent more than $560 million in fraud affecting Australian businesses during the 2019-20 financial year.

Global payments technology company Mastercard has expanded its cryptocurrency program, making it easy for its partners to introduce secure compliant payment cards to market.

MYOB has released new payments and employee management features for its accounting software.

Consumer advocacy group CHOICE claims Australian banks have "pocketed" $6.3 billion over the last decade by failing to pass interest rate cuts onto credit card customers.

The Maze ransomware group has threatened to publish more than 11 million credit card numbers it exfiltrated from the Costa Rica-owned Banco CBR in August, as it continues to try and squeeze the organisation to meet its ransom demands.

Security outfit Sophos claims that funds extracted from victims of sextortion schemes have been deposited by cyber criminals in bitcoin wallets.

New Zealand’s retail lending market is expected to record a healthy growth over 2019–23 to reach NZ$395.9bn (US$265.6bn) in 2023, according to analyst firm GlobalData.

Westpac Bank has signed a settlement agreement with the New Zealand consumer watchdog, The Commerce Commission, admitting it breached the Credit Contracts and Consumer Finance Act 2003, and agreeing to make payments to customers totalling $3.7 million.