The knives come out: Visa, Mastercard will charge PayPal and Google for their mobile wallets

via theverge.com

Our long, slow slog towards ubiquitous mobile payments isn't getting any shorter, and today comments from Visa show that it's going to get more contentious before it gets better. Visa's CEO Charlie Scharf said that "it is totally appropriate" to charge companies like PayPal and Google a fee when their digital wallets get used. Both PayPal and Google offer something called a "staged wallet," which means that those companies act as a kind of intermediary between you and your credit card. That theoretically helps make your wallet easier to use — since it can contain multiple cards — but Visa and Mastercard really hate this approach because it means they can't collect as much data about your purchasing habits.

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Up To 1.5M Credit Card Numbers May Have Been Stolen In Visa, MasterCard Security Breach

via techcrunch.com

On Friday, we heard the news that payments processor Global Payments was hit with a massive security breach involving MasterCard and Visa cardholders. At the time it was unclear the reach of the security issue, which was being investigated by the U.S. Secret Service. Tonight, Global Payments reports that those cards affected in the breach processing system were confined to North America and up to 1.5 million card numbers may have been exported. Visa had originally pegged that number at around 50,000 cards stolen.

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Visa, MasterCard to use buying history for ad targeting?

All the purchases you make with your MasterCard or Visa could be used to provide you with more-targeted ads as you surf the Web, a new report claims.

According to today's Wall Street Journal, the credit card companies are currently trying to work out a system whereby purchases consumers make in a brick-and-mortar store can be used to deliver more effective ads online.

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MasterCard highlights mobile payments

It's been a long time coming, but the mobile-payment revolution may finally be here.
MasterCard, one of the major credit card issuers eyeing the market for years, is set to launch its service in the U.S. with partner Google. The company is the exclusive credit card issuer for the launch of Google Wallet, a digital-wallet application for Google Android phones.

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MasterCard Shows the Future of Mobile Payments Is In Your Senses

via readwriteweb.com

The future of mobile payments has the potential to invade your senses. MasterCard is showing off what could be the next wave of innovation in payments this afternoon at an event in New York City. Imagine being able to wave at your TV and order a order a pizza. Or get a coupon because your smartphone was listening to a commercial. These possibilities are not as far-fetched as you might think.

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